Forum Discussion

CathVSA's avatar
CathVSA
Experienced User
5 years ago

Undeposited Funds/Clearing Payroll entries

I found another this thread that seems to be relevant to my problem, although that was answered by Steven back in August and doesn't quite answer my problem. I am using version 2019.4. We paid an ...
  • Komal_S's avatar
    Komal_S
    5 years ago

    Hi CathVSA 


    Yes, creating a new undeposited fund accounts and linking it to Setup--> Linked Accounts--> Accounts and Banking Accounts--> Bank account for undeposited funds will clear those transactions from Prepare Bank Deposit. 

     

    You might not need to inactivate the previous linked account as it would not link to preparing bank deposits anymore and you can search by that old account if you ever want to know what transactions were posted against it. But then again, it's totally up to you if you want to inactivate the account for some other reasons.

CathVSA's avatar
CathVSA
Experienced User

Hi Komal_S 

Thank you again for your reply!

I have changed the linked payroll acocunt for cash payments to the bank account that they come out of, and that makes much more sense than using undeposited funds.

Unfortunately though I can't delete the payroll transaction as superannuation has been paid from it, and reversing the transaction crates another transaction in undeposited funds that won't clear lol.

 

Our other clearing accounts all have transactions that we don't want cleared on a daily basis.

 

It is therefore looking like our only option to not have these transactions show is to create a brand new "undeposited funds" account and make the current one inactive?  Is that right?

 

We use the undeposited funds account daily and it is annoying seeing those transactions all the time!

 

Thanks again

Cheers Cath

 

Komal_S's avatar
Komal_S
MYOB Staff
5 years ago

Hi CathVSA 


Yes, creating a new undeposited fund accounts and linking it to Setup--> Linked Accounts--> Accounts and Banking Accounts--> Bank account for undeposited funds will clear those transactions from Prepare Bank Deposit. 

 

You might not need to inactivate the previous linked account as it would not link to preparing bank deposits anymore and you can search by that old account if you ever want to know what transactions were posted against it. But then again, it's totally up to you if you want to inactivate the account for some other reasons.

  • CathVSA's avatar
    CathVSA
    Experienced User
    5 years ago

     

    Thank you again!

  • CathVSA's avatar
    CathVSA
    Experienced User
    5 years ago

    Hi again Komal_S 

    Sorry to bug you again with this!

    I just wanted to query your comment:  "creating a new undeposited fund accounts and linking it to Setup--> Linked Accounts--> Accounts and Banking Accounts--> Bank account for undeposited funds will clear those transactions from Prepare Bank Deposit."

     

    Can I please just confirm that creating a new undeposited funds account does not actually "clear those transactions" from the old undeposited account, you just don't notice them now because you are using a new account.

     

    We are not excited about transfering to a new "undeposited funds" account but if that is what we have to do, we will....

     

    Thank you again for your help.

    Cheers Cath

     

    • Komal_S's avatar
      Komal_S
      MYOB Staff
      5 years ago

      Hi CathVSA 

       

      Changing the linked account for undeposited funds would not clear any transactions from that account number, but would just clear your Prepare Bank Deposit window. 

       

      When you search for the old account under Find transactions, you can find all the transactions linked to it.


      Feel free to post should you have any other questions. 

      • CathVSA's avatar
        CathVSA
        Experienced User
        5 years ago

        Hi Komal_S 

        Thank you so much for your fast response again, I really appreciate it.

        Cheers Cath

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