Connecting a Commonwealth Bank account to MYOB

To set up a bank feed for a Commonwealth Bank account:

• you need to be the online owner (this is usually the person who set up your AccountRight subscription) or an online administrator, and

• have your MYOB account details handy.

Your AccountRight company file doesn't need to be online to set up bank feeds, but you'll need an internet connection. Which CBA accounts are supported?

There are two parts to setting up a bank feed:

1. Apply for a bank feed

Applying online via NetBank is the quickest way to get up and running. Otherwise you can complete an application form.

The quickest way to apply for a bank feed is to start the process in AccountRight, then finish it via NetBank, the Commonwealth Bank's online banking.

You won't be able to apply via NetBank if:

• you don't have access to NetBank - speak to the Commonwealth Bank about getting set up.

• you use Commonwealth Bank CommBiz

• there's more than one signatory on your account, or

• you've chosen to "mask" your account numbers in NetBank (so they display as XXX XXX) and you don't want to turn this off.

If you can't apply via NetBank, use an application form instead. See the next task for instructions.

To apply for a bank feed via NetBank (Recommended)

1. Start AccountRight.

2. Go to the Banking command centre and click Bank Feeds.

   If it's your first bank feed

   1. The Manage Bank Accounts window appears. Click Get Started with Bank Feeds.

      

   2. A web browser opens and you'll be prompted to sign in with your MYOB account details. You'll then see the Manage bank accounts page in the web browser version of AccountRight.

      If you don't see the Manage bank accounts page, it means your AccountRight company file is not online. See the FAQs below about how to manage bank feeds for offline company files.

   
   
   

   If it's an additional bank feed

   1. The Bank Feeds window appears. Click Manage Bank Accounts.

      

   2. Click Add or remove a bank account.

   3. A web browser opens and you'll be prompted to sign in with your MYOB account details. If you have multiple MYOB products or company files, select the applicable product and company file. You'll then see the Manage bank accounts page in the web browser version of AccountRight.

      If you don't see the Manage bank accounts page, it means your AccountRight company file is not online. See the FAQs below about how to manage bank feeds for offline company files.

   
   
   

3. Click Connect bank or credit card.

4. Select Commonwealth Bank of Australia (CBA) from the list of financial institutions.

5. For the Set up method, select Online banking.

6. Read the displayed information and, if you agree, select the option I confirm that.

7. Click Next.

8. Click Copy to copy an 8-digit code you may need to log in to CBA internet banking.

9. Click Go to online banking and then log in to NetBank.

10. Select the account you want to receive bank feeds for.

11. Select the terms and conditions checkbox.

12. Click Confirm to submit your application.

Applications are usually processed by the CBA within 24 hours, but it can take a few days—we'll let you know when it's ready. To check the application status, see Manage bank feeds.

If you haven't heard from us after 5 business days, contact product support (click chat or scroll down for other options).

Once it's ready, you'll need to link the bank feed to the corresponding account in AccountRight. See task 2 below for instructions.

To apply with an application form

If you can't apply for a bank feed via NetBank (the Commonwealth Bank's online banking), here's how to apply using an application form.

1. Start AccountRight.

2. Go to the Banking command centre and click Bank Feeds.

   If it's your first bank feed

   1. The Manage Bank Accounts window appears. Click Get Started with Bank Feeds.

      

   2. A web browser opens and you'll be prompted to sign in with your MYOB account details. You'll then see the Manage bank accounts page in the web browser version of AccountRight.

      If you don't see the Manage bank accounts page, it means your AccountRight company file is not online. See the FAQs below about how to manage bank feeds for offline company files.

   
   
   

   If it's an additional bank feed

   1. The Bank Feeds window appears. Click Manage Bank Accounts.

      

   2. Click Add or remove a bank account.

   3. A web browser opens and you'll be prompted to sign in with your MYOB account details. If you have multiple MYOB products or company files, select the applicable product and company file. You'll then see the Manage bank accounts page in the web browser version of AccountRight.

      If you don't see the Manage bank accounts page, it means your AccountRight company file is not online. See the FAQs below about how to manage bank feeds for offline company files.

      
      

   
   
   

3. Click Connect bank or credit card.

4. Select Commonwealth Bank of Australia (CBA) from the list of financial institutions.

5. For the Set up method, select Form.

6. Complete your bank details.

7. Read the displayed information and, if you agree, select the option I confirm that.

8. Click Next.

9. On the Finish your set-up page:

   1. Click Download authority form, then complete, sign and scan the form to your computer.

   2. Click Upload authority form to open the secure upload portal.

   3. Enter your Email address.

   4. Upload your scanned application form (either drag and drop the form onto the page or click Upload and choose the file from your computer).

   5. Click Submit Application.

Your application will be processed within 10 business days—we'll let you know when it's ready. To check the application status, see Manage bank feeds.

If you haven't heard from us after this time, Contact us and our support team will be happy to help.

Once it's ready, you need to link the bank feed to the corresponding account in AccountRight. See the instructions below.

2. Link the bank feed to an account in AccountRight

We’ll notify you by email when your bank feed is ready to use. You can then link the bank feed to the corresponding account in AccountRight.

What happens next?

When your bank feed is ready and it's linked to an AccountRight account, you’ll be able to download and approve transactions into your company file. What's the bank feed delivery frequency?

Note that the first bank feed you receive will have transactions dated from when your bank feed was approved. Any transactions that occurred while you were waiting for the bank feed to be set up won’t be included. If you want to import and reconcile transactions dated before your feed approval date, you can import a bank statement.

FAQs

How do I set up a bank feed if my company file is offline?

If your AccountRight company file is not online, you'll add new bank feeds via my.myob. As well as adding bank feeds, this is where you can:

• check your bank feed application status

• reprint a bank feed authority (application) form

• cancel a bank feed

You'll be prompted to sign into my.myob when you click Add or remove a bank account in the Manage Bank Accounts window in AccountRight.

In my.myob, go to the My Products page to add or manage your bank feeds.