Hi,
I'm finding that I have to import statements for each of my loans, I have 3, plus my mastercard.
It would really save me a lot of time if I could set up a Bank Feed for my Loan Accoun...
Bank feeds: Loan accounts
Tim_Garth
10 years agoCover User
Hi Adam I'm having a similar problem here in my business and would like MYOB to approach the big banks to see why you can't get bank feeds for account numbers beginning with 3-8 (loans).
Interestingly enough, with the CBA there is a way around this which you could consider. You can go to the CBA to apply to swith your loans into 'lines of credit'. This could cost you bank fees, but I guess depending on the time savings these fees may be worth it. A line of credit account is exactly the same concept as a home loan, can be secured against assets, variable rates, etc - but they have an account number beginning with 1 and will successfully feed into MYOB. I have witnessed this with a few clients already and called CBA to clarify.
But, it's really strange that MYOB can't fix this silly issue in the first place, because you'd think loan accounts would be the ideal bank feeding account - you could literally set it up and it would manage itself moving forward.
MYOB please look into this!!
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