Preparing An Electronic Payment File In MYOB

Instructions to prepare Electronic payment file on MYOB

Version Control:

Version No.	Date	Preparer	Reviewer	Approver
1.0	05/07/2019	Sunitha Bethu

Preparing An Electronic Payment File In MYOB

• Go to the Banking command centre and click Prepare Electronic Payments. The Prepare Electronic Payments window appears listing all electronic payments waiting to be processed..

• In the Pay From Account field, select the bank account from which you are paying. The banking details of the account you select are included in the file that you send to the bank for processing.
• If you want to group the electronic payment by payment type—for example, to pay bills only—select a type in the Select Payment by field.
• In the Your Bank Statement Text field, type the text you want to appear on your bank statement.
• In the Bank Processing Date field, enter the date you want the payment to be processed.

Future dates
You can future date the Bank Processing Date when preparing your electronic payment file, providing it’s within the current financial year. The Bank Processing Date is the date you want the bank to process the electronic payment, but not all banks adhere to future dating bank files. Check with your bank for clarification.

• Enter a Journal Memo to describe this transaction. By default this will display Electronic Payment for each new electronic payment.
• Click in the select column next to those payments you want to process
• Click Bank File. A window appears, informing you that the payment will be recorded before the bank file is created.
• Click OK. The Save As window appears.
• Choose where you want to save the bank file. For Australia, the file extension must be ABA.

Click K:\KIS Transport Admin\MYOB\Bank Files for Electronic Payments to save your bank files. This will make it easier to find your bank files later.

If you are preparing multiple electronic payment files, make sure that you do not overwrite an unprocessed file when saving

• Click Save. The payment information is saved in a file that you can upload to your bank for processing.

• If you want to prepare another electronic payment file, repeat from step 2.

• Click Cancel to exit the Prepare Electronic Payments window.