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The Bank transactions page lists the bank and credit card transactions that have been brought into MYOB Essentials. If you haven’t set up a bank feed or imported a bank statement, this page won’t show any transactions. See Bank feeds and Import bank and credit card statements.
For each bank or credit card transaction on this page, you need to either:
- match it to an existing MYOB Essentials transaction (or bank transfer)
- allocate it to one of your MYOB Essentials accounts.
What to look for
When you allocate or match a transaction, you’re identifying whether or not it has been entered in MYOB Essentials. You should check for:
- Transactions already entered in MYOB Essentials (eg. invoices and bills, or payments like Spend Money and Receive Money transactions). You should match these bank transactions to the corresponding MYOB Essentials transaction. See Matching bank transactions.
- Transactions not entered in MYOB Essentials (eg. bank charges, bank interest, cash withdrawals or deposits). You should allocate these bank transactions to the appropriate MYOB Essentials account. See Allocating bank transactions.
If you have regularly occurring bank transactions that always have a particular description (such as a transaction containing the text BANK INTEREST), you can set up rules to manage them. The next time these transactions are received or imported, MYOB Essentials will allocate them automatically to an account you choose. For more details, see Creating rules.
- Transfers between bank accounts. If you’ve transferred money between two of your bank accounts, MYOB Essentials can match the two bank transactions, even if you haven’t entered a bank transfer transaction into MYOB Essentials. You should confirm that this match is correct. See Identifying transfers between your bank accounts.