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Electronic payments

After you record a payment to a supplier or employee in MYOB, you can then deposit the funds into their account. This is called 'electronic payments'.

Why you should use electronic payments

  • More secure – no carrying wads of cash

  • Cash and cheque payments are becoming rare – your employees and suppliers are likely to expect cashless payments

  • Paying electronically from your accounting software makes it easier to keep tabs on payments as it creates an audit trail

You can pay employees and suppliers electronically using a bank file, or if you're in Australia you might also be able to pay them directly.

Using a bank file

Create a bank file from MYOB then upload it to your bank for processing.

Bank file payments

Direct payments (Australia only)

Setting up direct payments (Australia only) We're no longer taking new applications for direct payments. If your business is already set up for direct payments you can continue using this feature. You can of course still use electronic payments (paying suppliers and employees by uploading a bank file) – you'll need to follow the steps below to set up your banking details for this.

Pay directly from MYOB

What's the difference?

Using a bank file

  • available in Australia and New Zealand

  • included with MYOB (bank fees may apply)

  • internet banking required

Direct payments

  • available to selected Australian customers only (see note below)

  • MYOB fees apply (see FAQs below)

  • internet banking not required

  • streamlined payment process

  • less data entry = fewer mistakes!

  • additional security

  • full payment audit trail

  • can pay expenses via credit card or Mastercard debit card

  • earn MYOB rewards points each time you pay an eligible business expense using your credit card (VISA and Mastercard)

Direct payments availability

Only businesses that are currently set up for direct payments can use this feature. We're no longer taking new applications.

Setting up electronic payments

Before you can make electronic payments you'll need to set up a few things. Take a look at Setting up electronic payments for all the details.

Making payments

Once you're set up, you're ready to start making electronic payments. For all the details, see Making electronic payments.

FAQs