MYOB Banking
Banking
After the banking button has been pressed as shown in the introduction you will find a flow chart appear with many options like the one below.
The 5 main functions on this flow chart that can be useful are the ones listed below.
Bank Register
The bank register will show you all the transactions related to the bank account that you have selected. You can put a date to show transactions between a specific time frame. It will show you the money going in and out of the account, where the money has been going and the balance at any point.
Reconcile Accounts
The reconcile accounts will allow you to reconcile accounts to compare them with something to find out if there has been any errors. Its possible to reconcile the bank account with a statement to find out if the transactions have been entered into MYOB correctly or if there are any transactions not known about until the bank statement has arrived for example interest from bank. Also the client account can be reconciled to make sure that the correct refunds have been given.
Spend Money
The spend money allows you to put in transactions for paying for something from the bank for example a phone bill. This lets you record transactions for money going out of the bank.
Receive Money
The receive money is just the opposite to the spend money and allows you to record transactions where money is going into the bank account. This isn't too commonly used as invoices from sales are not recorded on this section. Receive money is more commonly used for transaction for example bank interest received.
Transaction Journal
The Transaction Journal gives you a record of every transaction between the dates that you ask it for. It will show you the transactions within different sections of which the main 3 used are Disbursements Receipts and Sales. It also shows entry's such as in the nominal (transactions from the Record Journal Entry). Its also possible to view all transactions that have taken place at once using the all tab.