Recording bank deposits in MYOB AccountRight 19
Overview
In order to recording the accounting numbers correctly for direct debits, the customer payments must be grouped into a single bank deposit transaction. This transaction is used as the grouping mechanism to ensure that the accounting in MYOB matches your bank statement. Each direct debit run should be represented by a single bank deposit.
Prior to creating the bank deposit transaction, you must have recorded customer payments into MYOB against the undeposited funds account. For more information see, Recording customer payments using DirectDebitsLink.
Once the customer payments are recorded in MYOB, you can proceed and record the bank deposit transaction. This Bank Deposit transaction must be recorded manually in MYOB.
Record the Bank Deposits in MYOB AccountRight 19
To record the bank deposit transaction, follow these steps.
- Open your MYOB data file;
- Select Banking in the Command Centre, then click on Prepare Bank Deposit;
- Choose the bank account the moneys will be deposited into from the Deposit to Account field;
- Select Payment Method in the Select Receipts by field;
- Select Direct Debit in the field next to Select Receipts by;
- Enter the ID, Date and Memo;
- Tick the required payments using the Deposit column;
- Click Record to record the bank deposit;
- Close all dialogues and windows.
Now that the bank deposit transaction has been recorded, you can prepare the direct debits ABA file.