Banking

Creating electronic payments transactions

Note: You must subscribe to MYOB Vendor Payments to make electronic Vendor payments directly from AccountEdge

Note:  Electronic employee payments are created using the Process Payroll Assistant

When entering a Spend Money or Pay Bills transaction that you want to pay electronically, mark the Group with Electronic Payments selection in the Spend Money or Pay Bills window. (An employee or supplier card must be entered in the transaction window in order to create an electronic transaction; only employee or supplier cards can be used.) For payroll transactions, choose Electronic in the Payment Method field of the Card Information window - Payment Details view - Employee for each employee. The transactions will be linked to the account you chose as your linked Bank Account for Electronic Payments.

Note:  What is the linked Bank Account for Electronic Payments?

When you record an electronic transaction, it will display in the Prepare Electronic Payments window. All of the transactions you group in this manner will remain there until you're ready to transmit the transactions for approval.

Use the Prepare Electronic Payments window to select the payments you want to pay and the date when you want the bank to transfer the funds.

Error messages

There are a number of reasons why a transaction may not process successfully: insufficient funds, incorrect bank account, a communications error with the financial institution.

See MYOB Business Services troubleshooting for help understanding error messages and what you may do in response to them.

Note:  How to go to the Internet to visit Payments Gateway

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