Setting up bank feeds

https://help.myob.com/wiki/x/qpKO

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On the Manage bank feeds page, you can apply for a new bank feed, track the progress of your application and manage your existing bank feeds.

To set up a bank feed, you’ll need your bank account or credit card details. Note that you need to have subscribed to MYOB Essentials, and a bank feed can only be authorised by an administrator or by an accounting advisor (such as your accountant).

Depending on your bank, and the authorisation method you choose, you might also need access to the account's online banking system.

Applying for a bank feed

There are three steps to the process of applying for a bank feed:

Apply—Enter the details of the bank account you want to link to MYOB Essentials.
Authorise—Print the authorisation form, sign it and send it to MYOB. If you're with Commonwealth Bank (Australia only), you can choose to do this step using your online banking system. If you're with Westpac (Australia only), you don't need to do this step.
Link—Once your bank feed has become active and you've started receiving transactions, choose which of your MYOB Essentials accounts to link it to.

Once you’ve completed your application, your bank transactions will start appearing in MYOB Essentials within 10 business days.

You can track the status of your application on the Manage bank feeds page. For details of what each status means, see Tracking the status of your bank feed application.

What you’ll need

Before you start setting up a bank feed, you’ll need access to a few things:

An MYOB Essentials account equivalent to the bank account or credit card you’re setting up a bank feed for. For example, if you’re linking your Visa card, you would need an MYOB Essentials credit card account to link it to.
For a bank account, you’ll need the bank account number, BSB and account holder’s name
For a credit card, you’ll need the card holder’s name, credit card number and expiry date (for a credit card)
The person authorised to sign for the bank account. This is usually the account holder. (Not applicable for NetBank applications or Westpac paperless applications)

Apply for a bank feed

Commonwealth Bank account holders (Australia only)

If you’re setting up a bank feed for a Commonwealth Bank account, speed things up by choosing the option to complete your application online through NetBank, instead of printing and posting a form to MYOB. See Apply for a bank feed using Commonwealth Bank Netbank

Apply for the bank feed

From the Settings menu, choose Manage bank feeds, or click the Set up bank feeds button on your Dashboard. The Manage bank feeds page appears.
Click Set up bank feed.
Choose whether you want to set up a bank feed for a bank account or credit card, then select the bank or financial institution the account or card belongs to.
If you’re setting up a bank feed for a bank account, enter the Account Holder Name, BSB and Account Number.
If you’re setting up a bank feed for a credit card, enter the Name on card and the Last 4 digits of the card number.
Read the Terms of Use and select the option if you agree with them.
Click Apply for bank feeds.
If you're applying for a bank feed for an Australian Westpac account, click Done. Your application is complete and your transactions will start appearing in MYOB Essentials within 10 business days. Keep an eye on the status of your application on the Manage bank feeds page. When your bank feed becomes active, link it to an MYOB Essentials account. See Link your bank feed to an MYOB Essentials account. You don't need to do the rest of the steps in this procedure.
For other applications, click Print Form. Depending on your computer’s settings, the form will either appear in a new tab, where you can save or print it, or a popup will appear, asking whether you want to save or print the form. To complete the authorisation process, follow the procedure in Authorise the bank feed.

Authorise the bank feed
Print the form.
If you’re setting up a bank feed for a credit card, fill in the remaining digits of the credit card number.
Have the form signed and dated by the authorised signatory for the bank account you’re setting up a bank feed for.
Post the signed form to the MYOB address given on the form.
Once the authorisation form is received, MYOB will forward the information to your bank or financial institution.
You can check on the status of your application on the Manage bank feeds page. It can take up to 10 business days for your bank feed to become ready. For more details about the statuses shown in this window, see Tracking the status of your bank feed application.
When the bank feed is ready, you'll receive a notification on your MYOB Essentials dashboard, asking you to link the new bank feed to an account. See Link your bank feed to an MYOB Essentials account.

Apply for a bank feed using Commonwealth Bank NetBank (Australia only)

Follow these steps if you’re setting up a bank feed for an account with the Commonwealth Bank. You will also need to be able to access the NetBank facility for this account.

Apply for the bank feed

From the Settings menu, choose Manage bank feeds, or click the Set up bank feeds button on your Dashboard. The Manage bank feeds page appears.
Click Set up bank feed.
Choose whether you want to set up a bank feed for a bank account or credit card, then select Commonwealth Bank of Australia from the list of banks and financial institutions.
In the Application method section, choose Online through my bank.
Note that you'll need to have access to NetBank for this account. If you don't have access, you'll need to follow the steps at Apply for a bank feed, above.
If you’re setting up a bank feed for a bank account, enter the Account Holder Name, BSB and Account Number.
If you’re setting up a bank feed for a credit card, enter the Name on card and the Last 4 digits of the card number.
Read the Terms of Use and select the option if you agree with them.
Click Apply for bank feeds.
Copy the MYOB bank feed reference number that’s displayed on your screen. You’ll need this number when completing your NetBank application.

Authorise the bank feed
Click Continue to online banking. Your browser opens the NetBank login page in a new tab.
Log in to your NetBank account using your NetBank Client number and Password.
Note that this step (and all subsequent steps) must be completed by a person who has independent signing rights on the bank account that you are setting up bank feeds for.
Enter the bank feed reference number in the MYOB business reference number field, on the Set up a bank feed to MYOB page.
If you clicked through from MYOB Essentials to NetBank, this should be the first page you see after logging in. Otherwise, you can get to this page by going to the Manage my accounts page in NetBank, and clicking Set up a transaction feed to MYOB.
Select which of your accounts you’re setting up a bank feed for.
If an account doesn’t appear in the list, it might require authorisation by more than one person. To set up a bank feed for an account that doesn’t appear in this list, email bankfeeds@myob.com.
Indicate that you agree to the terms and conditions by ticking the checkbox.
Click Submit. A confirmation page appears, and your application will start to be processed.You can check on the status of your application on the Manage bank feeds page. It can take up to 10 business days for your bank feed to become ready. For more details about the statuses shown in this window, see Tracking the status of your bank feed application.
When the bank feed is ready, you'll receive a notification on your MYOB Essentials dashboard, asking you to link the new bank feed to an account. See Link your bank feed to an MYOB Essentials account.

Link your bank feed to an MYOB Essentials account

When your bank feed is ready, you'll receive a notification on your dashboard, asking you to link the new bank feed to an account. Click the link in the dashboard notification.
The Manage bank feeds page appears, with the new bank feed highlighted in pink.
From the Select account dropdown list, choose which of your MYOB Essentials accounts you want to link the bank feed to.
The account you choose should be an equivalent bank or credit card account you’ve set up in MYOB Essentials.
For example, if you’re setting up a bank feed for your main transaction account, you might choose to link it to the 1-1000 Cheque Account in MYOB Essentials. Similarly, if you’re setting up a bank feed for your Visa card, you might choose to link it to the 2-1040 Visa account in MYOB Essentials.
MYOB Essentials accounts that are already linked to a bank feed do not appear in the list.
In the confirmation box, click Yes to confirm your choice of linked acount.
The bank feed is linked to the selected account, and bank transactions will start appearing in the linked account. You can view the transactions from your bank feed on the Bank transactions page.

Tracking the status of your bank feed application

On the your bank feeds page, you can see a list of all your current bank feeds, along with the account details, and the status of each bank feed.

When you apply for a bank feed, the status field will show what stage your application is at, whether there has been a problem with your application, and whether you need to do anything.

Note that the application process can take up to 10 business days to complete. If it’s taken longer than this for your bank feed to become active, contact bankfeeds@myob.com.

What does my bank feed’s status mean?

The possible statuses of your bank feeds are listed in the following table, along with what you need to do.

Status	What it means	What you need to do
Not yet active	Your bank feed application is in progress.	Nothing for now. You'll know that your bank feed is working when transactions from that account start appearing on your Bank transactions page.
We've not yet received your form	We're still waiting to receive your form.	Make sure you've posted the application form to the address shown on the front page of the form.
We've got your application	Your application has been received by MYOB.	Nothing. Your form made it to the right place, so give yourself a pat on the back.
We're working on it	BankLink have received your application and are currently processing it.	Nothing. Kick back and relax while we do the work.
Waiting for bank approval	The application has been sent to your bank and is currently awaiting the bank's approval.	Nothing. You should hear soon whether your feed was approved.
Approved (nearly there!)	The application has been approved.	Check back often. Your bank feed will start working soon.
Bank feed connected	The bank feed is up and running, and your transactions are being imported into MYOB Essentials.	Get started matching and allocating your bank transactions. See Working with bank transactions.
Declined. Contact support.	Your application has been declined.	You need to contact MYOB Essentials support by emailing bankfeeds@myob.com.
Card number missing from form	The credit card number on your authorisation form was not completed.	Reprint the authorisation form (see To reprint the authorisation form), complete the credit card number, and post it to the address shown on the front page of the form.
Already linked elsewhere	The bank account you're trying to set up a bank feed for has already been used with another provider, such as M-Powered Bank Statements.	You need to cancel the service that the bank account is linked to, and then apply again.
Please send the original form	The form we received was a copy, and not the original.	Please send the original form. We need the signed form (and not a copy). Any form where the signatures or other details are photocopied or printed will be declined.
This account isn't supported	The bank account type selected is not compatible with our bank feeds service and is not available to use with Bank Feeds.	Unfortunately, there’s no way to make this work right now. Check back in the future to see if we’ve added this account type to the accounts that can be used with MYOB Essentials. See the current list of banks and account types: Australia \| New Zealand (PDF viewer required). To remove the bank feed from your list, you’ll need to cancel it. See Cancelling a bank feed. If you still want to import transactions from this account, you can do so manually. See Import bank and credit card statements.
Your bank needs your signature	Your bank doesn't have your signature on file and can't verify the signature on the authorisation form.	Go to your bank and supply them with your signature. They will then be able to match this signature against the one on the application form.
Signature doesn't match bank	The signature on the authorisation form doesn't match the one you have on file with your bank.	Reprint the authorisation form (see To reprint the authorisation form) and ensure that it is signed by the account holder or an authorised signatory.
Your form wasn't signed	The authorisation form you sent wasn't signed by the account holder or an authorised signatory.	Reprint the authorisation form (see To reprint the authorisation form) and ensure that it is signed by the account holder or an authorised signatory.
Account name doesn't match	The account name on your application doesn't match the name on file at the bank.	Cancel your bank feed (see Cancelling a bank feed) and re-apply. Make sure the account holder’s name you enter on the application exactly matches the one on file at your bank.
Account number doesn't match	The account number on your application doesn't match the account number on file at the bank.	Cancel your bank feed (see Cancelling a bank feed) and re-apply. Make sure the account number is correct and matches the one shown on your bank statement.
The account is closed	The account you applied for a bank feed for has been closed.	You can’t apply for a bank feed for this account, as it has been closed. Reapply with an active bank account. To remove the bank feed from your list, you’ll need to cancel it. See Cancelling a bank feed.
Your form wasn't witnessed	The authorisation form you sent wasn't witnessed.	Reprint the authorisation form (see To reprint the authorisation form) and ensure that it is both signed by the account holder and witnessed.
Rejected, contact your bank	Your bank has rejected your bank feed application.	Contact your bank to find out the reason for the rejection.
Application has been cancelled	The application has been cancelled.	Reapply for the bank feed, as the application has been cancelled.

Reprinting the authorisation form

In some cases, if your application has been declined, you might need to reprint your authorisation form, sign and witness it, and send it to MYOB again.

To reprint the authorisation form

If a bank feed has a Bank form created, not yet active status you may reprint the authorisation form. You may need to do this if you’ve misplaced the form, or if it hasn’t been received by MYOB or your bank or financial institution.

From the Settings menu, choose Manage bank feeds. The Manage bank feeds page appears.
Click the print icon next to the bank feed you want to reprint the form for. The authorisation form appears in a new window with the supplied bank account details already entered.
Print the form. The account holders must sign the form where indicated, and fill out any other necessary details.
Post the signed form to the MYOB address given on the form.
Once the authorisation form is received, MYOB will forward the information to your bank or financial institution. When the request is approved, data will automatically be fed into your nominated MYOB Essentials account, and the status of the feed will change to Linked and active.
The list on the Manage bank feeds page is updated to show the linked bank account you requested.