MYOB Software for Dummies - Australia, 8th Edition

Chapter 5

Understanding Bank Feeds and Rules

In This Chapter

Understanding all the hullabaloo about bank feeds and rules

Tuning up your bank and getting MYOB to sing along

Saving hours, maybe even days, with bank feeds

Conquering difficult situations without batting an eye

Using simple logic to get the job done

Keeping rules under control

Put simply, a bank feed is where your bank obligingly ‘feeds’ your MYOB file with a list of transaction details from your bank account. These transaction details appear in MYOB, complete with the date, the amount and, in most cases, the name of the person you were paying or the name of the person who was paying you.

Allocation rules provide bank feeds with the perfect dancing partner. The idea is that you set up rules so that MYOB automatically codes transactions to the correct accounts. So, for example, you can set up a rule so that any time the ...