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Allocating bank transactions

When working with bank feeds, if a transaction hasn't been entered into MYOB that matches a bank transaction, you can allocate the bank transaction directly to one or more of your MYOB accounts. This means you won't have to waste time manually recording a transaction.

If you need to, you can split a bank transaction between accounts, or select multiple transactions and allocate them to the same account.

If you've already entered a corresponding transaction in MYOB, you should match the bank transaction instead. See Matching bank transactions.

Regularly make the same payments? You can set up rules to automatically allocate these to your MYOB accounts, saving you from manual data entry.

Allocating transactions

If a transaction on the bank feed hasn’t been entered in MYOB, you can allocate it to your MYOB accounts.

If you're not sure which accounts to allocate transactions to, consult your bookkeeper or accountant.

When you allocate a bank transaction, a matching transaction is created in MYOB. For example, if you allocate a withdrawal, a spend money transaction is created. If you allocate a deposit, a receive money transaction is created.

Take a look at these allocating scenarios:

Keyboard shortcuts

There's a range of keyboard shortcuts available on the Bank transactions page to help make allocating transactions faster.

To reveal these shortcuts, press CTRL and / (PC) or CMD and / (Mac) simultaneously.

You can see if there are transactions to be allocated to your bank feeds accounts, and you can click to action them, right from the MYOB Business Dashboard. See The Dashboard.

FAQs