Forum Discussion

JacquieVR's avatar
JacquieVR
2 years ago

Recieving payments

Hi I am using AccountRight and all of a sudden for some reason when i recieve a payment some of them are showing in the bank register as a deposit and also a withdrawal, it has only started happening since the 31/5/23 and not all payments. When i enter the payment it automatically checks the undeposited funds box and if i uncheck it, it will just check it again. When i delete the payment and re enter the same thing happens. So when i reconcile it doesn't balance because of the the withdrawals being there. Dose anyone know how to fix this problem please? It has become a real headache.

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    2 years ago

    Hi JacquieVR 

     

    Thank you for your post. I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.

     

    Is the recorded withdrawals are spend money transactions and is the recorded payments are coming from bank feeds and with different accounts? If yes, you can allocate it to the Undeposited Funds account. Undeposited funds account is used to track all the payments you receive by cash, cheque and credit card before they are deposited to your bank account. This makes reconciling your bank account easy, because you'll be able to match up the bank statement deposit amount with the amounts you've recorded in AccountRight. 

     

    If the recorded transactions under undeposited accounts are already deposited to your bank account. You need to record the this in AccountRight by Preparing a bank deposit. After you've have done this this will clear the Undeposited funds account.

     

    Our Help Articles, has detailed information you may refer to and you might find these useful too.

     

    Please feel free to post again I'm happy to assist.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

     

    Cheers,

    Princess