We have been using the Prepare Bank Deposit in MYOB AccountRight. However, we do not see this as a feature in MYOB Online (MYOB Business). The Prepare Bank Deposit feature works best with our business. We want to use the MYOB Business, but the unavailability of this feature limits us to fully use the online version.
Hello Accounts_Ronis,
Thank you for your post!
Currently, MYOB Business does not have a "Prepare Bank Deposit" option. Instead, I recommend using the "Create General Journal" option. For example, you can use the Undeposited Funds account and then record transfer money transactions to move the amount from the Undeposited Funds account to the bank account.
I've provided more information on this here.
Kind Regards,
AM
It would be quicker to do as a transfer of money.
Again, another bulls-up from MYOB is forcing clients to change to software that is not working in many ways.
I will list a few that affect my clients.
- NO WARNING OF DUPLICATE INVOICE DEBTORS OR CREDITORS.
- CAN NOT TAKE DEPOSITS ON SALES ORDERS
- NO BANK DEPOSIT
- THE SCREEN DOES NOT SHOW ALL THE INFORMATION, NO MATTER HOW LARGE YOUR MONITOR IS.
- NOT ABLE TO DO A REFUND FOR A CUSTOM AS ELECTRONIC PAYMENT. YOU NEED TO REFUND THE CREDIT AND THEN GO TO THE BANK AND MANUALLY ENTER THE REFUND INTO PAY ANYBODY. SO OPEN TO ERRORS.
- WHEN SELECTING SALES TO SHOW INVOICE OF OUTSTANDING BALANCE, IT DOES NOT SHOW IF A CUSTOMER IS IN CREDIT OR IF THEY HAVE A CREDIT AND A UNPAID INVOICE. YOU NEED TO GO TO STATUS - CREDIT - IN PROGRESS. I SHOULD NOT HAVE TO REPORT TO FIND OUT A CUSTOMER'S BALANCE.
- SALES ORDERS REMAIN ONCE THEY HAVE BEEN MADE INTO A SALE. 100% OF CUSTOMERS ARE ENTERED AS A SALES ORDER WITH A DEPOSIT.
- WHEN POSSIBLE MATCH COMES UP IN BANK TRANSACTIONS. YOU CLICK ON MATCH TRANSACTION, AND ALL TRANSACTIONS COME UP. WHY IS IT NOT GOING TO THE POSSIBLE MATCH SUPPLIER/CUSTOMER?
- GLITCH IF YOU ARE ON THE CASH-ONLY SYSTEM FOR GST. A INVOICE IS CREATED FOR THE HIRE OF A ROOM SPACE. TWO ENTRIES ARE MADE ON THIS INVOICE. ONE FOR THE HIRE THAT GOES TO SALE, AND THE OTHER ENTRY IS TO A LIABILITY ACCOUNT FOR BONDS HELD WITH NO TAX. THIS BOND IS TO BE REFUNDED ONCE THE HIRE IS FINISHED. WHEN ALLOCATING, THE RECEIPT IT ADJUSTES THE AMOUNT IN THE BONDS HELD. THE AMOUNT IN THIS ACCOUNT SHOULD NOT CHANGE IN ANY WAY.
- WHEN PAYING A SUPPLIER, IT DOES NOT TELL YOU THAT THEY HAVE A UNALLOCED CREDIT.
- NOT ABLE TO COMBINE DUPLICATE CARDS OR ACCOUNT NUMBERS.
- RECURRING INVOICES DO NOT AUTOMATICALLY EMAIL ON THE DUE DATE.
I COULD GO ON, BUT I HAVE TO TRY AND WORK AROUND ALL THE MESS TO GET A CORRECT SET OF BOOKS.
WE SHOULD BE CHARGING MYOB FOR OUR EXTRA TIME BECAUSE THE SYSTEM DOES NOT WORK CORRECTLY.
