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When you connect a Westpac bank or business credit card account to MYOB, information from that account is sent by your financial institution straight into your MYOB business. These bank feeds save time on your data entry. Tell me more about bank feeds.
To set up a bank feed for a Westpac account:
you need to be the online owner (this is usually the person who set up your MYOB subscription) or an Online Admin user. If you're unable to set up bank feeds, contact us and we'll be happy to help.
ensure bank feeds can be set up for your Westpac account (check the list)
There are two parts to setting up a bank feed:
1. Apply Start the application process in MYOB and follow the prompts. | 2. Link Once your bank feed is active, choose the category in MYOB the bank feed applies to. |
Need to connect more bank accounts?
The number of bank accounts you can connect depends on your plan. Sign into My Account > Manage my product to see your current limit or upgrade your plan.
1. Connect your Westpac account
Start the application process in MYOB (Banking > Manage bank accounts > Create bank feed and follow the prompts.
Depending on whether you're connecting a bank account or business credit card, here are the steps:
Bank accounts
If you're connecting a bank account (not a credit card), you'll be able to complete the application using your online banking.
In MYOB, go to the Banking menu and choose Banking hub.
Click Connect bank or credit card.
Choose Westpac from the list of financial institutions. The Set up method confirms you'll be setting up using online banking.
Read the displayed information and, if you agree, select the option I confirm that.
Click Next.
Take note of the displayed reference number or click Copy to copy it to your clipboard. You'll need this code in your online banking to complete the application.
Click Go to online banking.
Sign in to Westpac Live.
Go to the Services & preferences menu and select Services.
Click Bank feeds in the Account Services section.
Select the bank account you are setting up the bank feed for in the From account menu.
Select MYOB as your third-party service provider.
Paste the code you copied earlier into the MYOB Bank Authorisation field.
Provide your email address in the Contact Email field.
Click Connect feed.
Business credit cards
If you're applying for a bank feed for a Westpac business credit card, these steps are for you. Note that you can't set up bank feeds for Westpac personal credit cards.
In MYOB, go to the Banking menu and choose Banking hub.
Click Connect bank or credit card.
For the Account type, choose Credit card account.
For the Bank, choose Westpac Business Credit Cards. The Set up method confirms you'll be setting up using online banking.
Read the displayed information and, if you agree, select the option I confirm that.
Click Next.
Take note of the displayed reference number or click Copy to copy it to your clipboard. You'll need this code in your online banking to complete the application.
Click Go to online banking.
Sign in to your online banking.
Go to the Services & preferences menu and select Services.
Click Bank feeds in the Account Services section.
Select the bank account you are setting up the bank feed for in the From account menu.
Select MYOB as your third-party service provider.
Paste the code you copied earlier into the MYOB Bank Authorisation field.
Provide your email address in the Contact Email field.
Click Connect feed.
How long does it take to approve my application?
Applications processed via Westpac Live are usually processed by Westpac within 24 hours, but it can take a couple of days.
If you haven't heard from us after this time, contact us.
We'll send you an email when your bank feed has been approved, or you can track the status of your bank feed application.
Once it's ready, you need to link the bank feed to the corresponding category in MYOB—see the next task for details.
2. Link the bank feed to a category in MYOB
Once you've been notified (by email) that your application has been approved and the first bank feed has arrived, you'll need to link the bank feed to the corresponding category in MYOB. This will be the category in MYOB that your bank transactions will be fed into.
To link a category to the bank feed
In MYOB, go to the Banking menu and choose Banking hub. The Banking hub opens, listing all the bank feeds you have set up and their status. A bank feed that's ready to use will have a message prompting you to assign a category:
Click Add a category.
In the Add a category for an account page, choose a category from the Linked category list. This will be the category that the bank feed transactions will be fed into. You can only choose categories set up as a bank account or credit card. Learn more about categories.
Click Add to finish.
What happens next?
Your bank transactions will automatically be fed into MYOB at the frequency specified by Westpac for your account type (check here).
You can then match those bank transactions to existing transaction records in MYOB or match them to categories. You can even set up rules to make matching happen automatically. Find out all about Working with bank transactions.
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, but you can import these transactions from your bank statements.
To set up a bank feed for a Westpac account:
you need to be the online owner (this is usually the person who set up your AccountRight subscription) or an online administrator
ensure bank feeds can be set up for your account (check the list)
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.
There are two parts to setting up a bank feed:
1. Apply Start the application process in AccountRight and follow the prompts. | 2. Link Once your bank feed is ready to use, choose the AccountRight account the bank feed applies to. |
1. Apply for a bank feed
Start the application process in AccountRight (Banking command centre > Bank Feeds), start the application and follow the prompts.
Depending on your location or whether you're setting up a bank feed for a bank account or credit card, here are the steps:
Bank accounts
If you're applying for a bank feed for a bank account (not a credit card), these steps are for you.
To apply for a bank feed via Westpac Live
Start AccountRight.
Go to the Banking command centre and click Bank Feeds.
If it's your first bank feed
The Manage Bank Accounts window appears. Click Get Started with Bank Feeds.
A web browser opens and you'll be prompted to sign in with your MYOB account details. You'll then see the Banking hub in the web browser version of AccountRight.
If you don't see the Banking hub, it means your AccountRight company file is not online. To set up a BNZ bank feed, you'll need to put your company file online.
If it's an additional bank feed
The Bank Feeds window appears. Click Manage Bank Accounts.
Click Add or remove a bank account.
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 Banking hub page in the web browser version of AccountRight.
If you don't see the Banking hub, it means your AccountRight company file is not online. To set up a BNZ bank feed, you'll need to put your company file online.
Select Westpac from the list of financial institutions.
Choose the option to complete your application Online through my bank.
Read the Terms of Use and select the option if you agree with them.
Click Apply for bank feed.
Copy the MYOB bank feed reference number that’s displayed on your screen. You’ll need this number when authorising the bank feed in your online banking system.
Sign in to Westpac Live.
Go to the Services & preferences menu and select Services.
Click Bank feeds in the Account Services section.
Select the bank account you are setting up the bank feed for in the From account menu.
Select MYOB as your third-party service provider.
Paste the MYOB bank feed reference number into the MYOB Bank Authorisation field.
Provide your email address in the Contact Email field.
Click Connect feed.
Business credit card accounts
If you're applying for a bank feed for a Westpac business credit card, these steps are for you. Note that you can't set up bank feeds for Westpac personal credit cards.
To apply for a bank feed via Westpac Live
Start AccountRight.
Go to the Banking command centre and click Bank Feeds.
If it's your first bank feed
The Manage Bank Accounts window appears. Click Get Started with Bank Feeds.
A web browser opens and you'll be prompted to sign in with your MYOB account details. You'll then see the Banking hub in the web browser version of AccountRight.
If you don't see the Banking hub, it means your AccountRight company file is not online. To set up a BNZ bank feed, you'll need to put your company file online.
If it's an additional bank feed
The Bank Feeds window appears. Click Manage Bank Accounts.
Click Add or remove a bank account.
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 Banking hub page in the web browser version of AccountRight.
If you don't see the Banking hub, it means your AccountRight company file is not online. To set up a BNZ bank feed, you'll need to put your company file online.
Click Connect bank or credit card.
Select Westpac from the list of financial institutions.
Choose the option to complete your application Online through my bank.
Read the Terms of Use and select the option if you agree with them.
Click Apply for bank feed.
Copy the MYOB bank feed reference number that’s displayed on your screen. You’ll need this number when authorising the bank feed in your online banking system.
Sign in to Westpac Live.
Go to the Services & preferences menu and select Services.
Click Bank feeds in the Account Services section.
Select the bank account you are setting up the bank feed for in the From account menu.
Select MYOB as your third-party service provider.
Paste the MYOB bank feed reference number into the MYOB Bank Authorisation field.
Provide your email address in the Contact Email field.
Click Connect feed.
How long does it take to approve my application?
Applications processed via Westpac Live are usually processed by Westpac within 24 hours, but it can take a couple of days.
If you haven't heard from us after this time, contact us.
We'll send you an email when your bank feed has been approved, or you can track the status of your bank feed application.
Once it's ready, you need to link the bank feed to the corresponding account in MYOB—see the next task for details.
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.
To link an account to the bank feed
In your company file, go to the Banking command centre and click Bank Feeds. The Bank Feeds window appears.
Click Manage Bank Accounts. The Manage Bank Accounts window appears.
This window shows the status of your bank feeds applications so you can follow their progress.Click Check/update status.
The bank feeds Log in window appears.
Sign in with your MYOB account email address and password (email address must be lowercase).
The Manage Bank Accounts window reappears. This window shows all the bank feeds you have set up and their status.
"Name not provided by bank"
If you applied for your bank feed online via Westpac Live, the Account Name on the Manage bank feeds page will display "Name not provided by bank'. Don't worry—this doesn't affect your bank feed.
In the Associated Account column, select an account from the list. This will be the account that the bank feed will be compared to. You can only select accounts set up as a bank account or credit card. Learn more about account types.
Click Use Account. The account is now linked to the bank feed.
Click OK to finish.
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. Check the delivery frequency for your Westpac account.
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?
Setting up and managing your bank feeds is quicker and easier if your company file is online. Plus you won't need to remember to click Get Bank Transactions in AccountRight to bring in the latest feeds from your bank – this happens automatically when your file is online.
But if your AccountRight company file is not online, you can only add new bank feeds via my.myob. As well as adding bank feeds, this is where you can:
check your bank feed application status
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.