I've just signed up for MYOB essessials and am staggered that I can only get bank feeds for standard savings type accounts. It's just crazy that all bank accounts can't be fed automatically to your accouting package, especially an online bank account from one of the big players !! What year is it again ??
Electronic Systems are supposed to make my life simple and easy, not more frustrating. Isn't that what we pay for?
I've requested (manually) to get a bank feed from my loan accounts from CBA. Still waiting......
The Bank Feed page only allows me to select account types of Banking or CreditCard. Why not Liabilities (Long or Current) or any other type?
Does this mean I should set up my loan account as a Banking account?
Maybe a Banking account to represent the bank transactions, and then allocate those transactions to a Liability/Loan Account, Expense/Interest, and Income/Loan_Repayment account?
Is that the normal way of doing things? e.g. If I was importing bank statements manually, would I setup my accounts this way, or just import them direct to a liability account?
Thanks for any help, Brendan.