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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 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. Apply for a bank feed
Start the application process in MYOB (Banking > Manage bank accounts > Connect bank or credit card) and follow the prompts.
To connect a Westpac account
In MYOB, go to the Banking menu and choose Manage bank accounts.
Click Connect bank or credit card.
For the Account type, choose Bank account or Credit card account. The Set up method confirms you'll be setting up using a form which can take 1 - 2 weeks.
For the Bank, choose Westpac or Westpac Credit Cards.
Enter the bank account or credit card details.
Read the displayed information and, if you agree, select the option I confirm that.
Click Next.
On the Sign the authority form page:
Click Print authority form, then complete, sign and scan the form to your computer.
Click Upload authority form to open the secure upload portal.
Enter your Email address.
Upload your scanned application form (either drag and drop the form onto the page or click Browse for files to choose the file from your computer).
Click Submit Application.
How long does it take to approve my application?
The application forms take 1 - 2 weeks to be processed. 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 bank feed 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 Manage bank accounts. The Manage bank accounts page opens, listing all the bank feeds you have set up and their status.
In the Linked category column for the new bank feed, choose a category from the list. This will be the account that the bank feed transactions will be fed into. You can only choose categories set up as a bank account or credit card.
Click Save to finish.
What happens next?
When your bank feed is ready, your bank transactions will automatically be fed into MYOB at the frequency specified by Westpac for your account type (check here).
You can then allocate those transactions to the applicable accounts or match them to existing transactions. You can even set up rules to make it 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.