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Working with bank transactions

The Bank transactions page lists the bank and credit card transactions that have been brought into MYOB via bank feeds or by importing a bank statement.

For each bank or credit card transaction on this page, you need to either:

  • match it to an existing MYOB transaction (or bank transfer)

  • allocate it to one of your MYOB accounts.

    Did you know you attach documents to your bills and spend money transactions in MYOB? This reduces manual data entry when entering bank transactions, and keeps track of important documents. 

Looking for a list of transactions for an account? Run the General ledger report.

What to look for

When you match or allocate a transaction, you’re identifying whether or not it has been entered in MYOB. You should check for:

  • Transactions already entered in MYOB (e.g. invoices and bills, or payments like Spend Money and Receive Money transactions). You should match these bank transactions to the corresponding MYOB transaction. See Matching bank transactions.

  • Transactions not entered in MYOB (e.g. bank charges, bank interest, cash withdrawals or deposits). You should allocate these bank transactions to the appropriate MYOB account. See Allocating bank transactions.
    If you have regularly occurring bank transactions that always have a particular description (such as a transaction containing the text BANK INTEREST), you can set up rules to manage them. The next time these transactions are received or imported, MYOB will allocate them automatically to an account you choose. For more details, see Creating rules.

  • Transfers between bank accounts. If you’ve transferred money between two of your bank accounts, MYOB can match the two bank transactions, even if you haven’t entered a bank transfer transaction into MYOB. You should confirm that this match is correct. See Transferring funds from a bank transaction.