Group with Other Undeposited Funds

Receive Money Overview > Using the Receive Money window > Group with Other Undeposited Funds

When you record Receive Money transactions into the undeposited funds account, individual cash-receipts transactions are recorded in the undeposited funds account -- not directly to your bank or credit card accounts. After you've grouped all of the Receive Money transactions you wish, you can then make a bank deposit which will include the group of Receive Money transactions you select. Using this method, a single bank deposit transaction will appear on your bank or credit card statement in place of many Receive Money transactions. The linked account must be a Detail Chebank account. To learn how to choose a linked account see To choose a linked account for undeposited funds transactions.

Note: The linked account for undeposited funds must be a local currency account

You may only use a local currency account as the linked account for undeposited funds. As a result, if you use the Multicurrency feature of MYOB Accounting Plus, only receipts transactions which are local currency may be grouped as a deposit of undeposited funds.

Click below for the step-by-step procedure:

To choose a linked account for undeposited funds transactions