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Bank feeds

The bank feeds function in MYOB Acumatica uses MYOB's online services to import transactions from your bank account or credit card statement into a nominated cash account.

To see which financial instutions support bank feeds, see the MYOB bank feeds page.

Bank feeds process overview

1. Authorisation

  1. Finance user requests authorisation for bank feeds.

  2. Admin user submits authorisation request to MYOB, gives finance user access to bank feeds features in MYOB Acumatica.

  3. MYOB agent processes authorisation request.

2. Applying for a bank feed online or using a paper form

Online
  1. Create an application record and save.

  2. Submit the application to MYOB’s online services

  3. Copy down the online passcode that is generated.

  4. Log in to the website for the financial institution.

  5. Set up the bank feed, supplying the passcode when required.

  6. Check the status of the application as it is processed.

  7. Once the application is successfully processed, Activate the bank feed.

For more information, see Setup process.

Paper form
  1. Create an application record and save.

  2. Submit the application to MYOB’s online services

  3. Copy down the online passcode that is generated.

  4. Log in to the website for the financial institution.

  5. Set up the bank feed, supplying the passcode when required.

  6. Check the status of the application as it is processed.

  7. Once the application is successfully processed, Activate the bank feed.

For more information, see Setup process.

3. Importing transactions

  1. Navigate to the Manage Bank Feeds form.

  2. Select one or more active bank feeds.

  3. Any user with access to the appropriate forms in MYOB Acumatica can import transactions from the feed(s).

  4. Review transactions on the Import Bank Transactions form and make corrections if necessary.

  5. Reconcile transactions as normal.


Setting up bank feeds

User authorisation

Before you can begin the setup process, you must nominate one or more MYOB Acumatica users to be able to apply for bank feeds. These users will need:

  • A secure authentication login, if they do not already have one. If the user can log in to MYOB Acumatica using the Sign in with Secure Authentication button on the login screen, then they are already set up. Secure Authentication was introduced in the 2018.1.2 release of MYOB Acumatica—once your site is using this version, onscreen messages will appear when users log in, prompting them to sign up for Secure Authentication. Users can follow these prompts to set up a Secure Authentication login for themselves. More information on Secure Authentication is available on the MYOB website.

  • Authorisation to apply for bank feeds. To authorise a user to apply for bank feeds, an MYOB Acumatica administrator with access to the Users screen (SM201010) selects the user who requires authorisation and clicks the Authorise MYOB Admin toolbar button. This sends an authorisation request on behalf of the user to MYOB Sales Operations. An automated email will be sent to the user when they have been authorised (it can take up to two business days for the authorisation request to be processed).

  • Access to bank feeds screens. Any user who will be applying for bank feeds should have access rights to the following screens:

    • Apply for Bank Feeds (MBCA2010)

    • Track Bank Feed Applications (MBCA2015)

    • Manage Bank Feeds (MBCA2020)

Setup process

Once a user has been authorised to apply for a new bank feed, they can navigate to the Apply for Bank Feeds screen (MBCA2010) to begin the application process. The first step is to click the + button, then select the Financial Institution that the bank feed will be imported from. The institutions available in the Financial Institution field’s search window are restricted based on the jurisdiction of the MYOB Acumatica installation—only Australian institutions are available in Australia and only New Zealand institutions are available in New Zealand. This means that if an installation has multiple tenants in different countries, only tenants in the same country as the overall installation can use bank feeds.

There are two types of application: paper and online.

  • online – For financial institutions that offer online bank feed applications, MYOB Acumatica generates a passcode, which you copy down and supply when setting up the bank feed at the institution's website.

  • paper – Where online applications are not available, MYOB Acumatica generates a printable client application form (CAF) containing details of the account you want to set up a bank feed for. The CAF must be printed out, signed, uploaded and sent for processing (all of these actions are performed in MYOB Acumatica).

Which type of application you create depends on the financial institution that you selected—in most cases, institutions only offer one method, in which case the Application Type options will be read-only. In cases where an institution offers both methods, the options are editable, and you can select the method you prefer.

Paper applications

When the Paper option is selected under Application Type, extra fields become available on the Apply for Bank Feeds screen (MBCA2010). These fields let the user enter the information required by the institution—usually an account name and number, and possibly other details like a BSB number in Australia. Fill in these fields, then save the application.

 The Account Name is the name that appears on statements for the account, not the name of the account holder or the type of account (cheque, savings, etc.). Account numbers and BSBs must contain numbers only—no dashes or slashes.

You can also nominate the Cash Account that the bank feed will import transactions into, but this is not necessary at this point. Only one bank feed can exist for each cash account.

Once the application has been saved, select Submit from the Actions dropdown to register the application with MYOB’s online services. If the submission is successful, you can then select the Download action to receive a client application form (CAF) in PDF format.

Depending on data traffic, the CAF can sometimes take up to five minutes to download. You may need to try clicking Download again later—see Troubleshooting.

The CAF must be printed out and signed by an approved signatory of the specified account; the signed form must then be scanned and uploaded. Upload the form by selecting the Upload action—this opens a popup window where you can select the file to upload:

The email address entered here will be used if MYOB needs to contact the user directly regarding the application.

Once the signed form has been uploaded, click Submit Application on this window to send it for processing.

It’s possible to upload and submit new versions of the CAF at a later time—this might be necessary if there was a mistake that needed to be corrected—see Troubleshooting.

Online applications

When the Online option is selected under Application Type, no other details are needed. You can nominate the Cash Account that the bank feed will import transactions into, but this is not necessary at this point. (Only one bank feed can exist for each cash account.)

Once the application has been saved, select Submit from the Actions dropdown to register the application with MYOB’s online services and generate an online passcode.

Next, click the Open Financial Institution Portal to go to the financial institution’s website to set up feeds for the accounts you require. Use this link to open the financial institution’s website, rather than navigating to the website manually. In some cases, the URL launched by the button includes authorisation information required by the website.

The details of how to set up the bank feeds are specific to each financial institution but mostly you will need to specify that you are connecting each account to an MYOB product and supply the passcode generated on the Apply for Bank Feeds screen (MBCA2010). The passcode can be used for the selected financial institution only; however, you can use it to set up feeds for multiple accounts from the same institution. Contact the institution if you need assistance for this stage.

ANZ (Australia) banking products can be applied online only. Two of ANZ (Australia)'s products:

  • ANZ commercial credit cards – must specify the account level, not the card level when providing the passcode to ANZ.

  • ANZ transactive banking accounts – must contact your ANZ account manager or ANZ transactive banking services to provide the passcode.

And generally require contacting MYOB support afterwards to finish the application process.

Tracking bank feed applications

The Track Bank Feed Applications screen (MBCA2015) shows the status of all bank feed applications, so their progress can be monitored.

See Applying for bank feeds for a list of all available application statuses and their meanings.

Click Refresh to update the statuses of the listed applications. This screen does not update automatically—you must manually refresh the list to see any status updates.

If the application is processed successfully, indicated by a “Success” status, the user can then activate the bank feed by selecting Activate from the Actions dropdown on the Apply for Bank Feeds screen (MBCA2010). The bank feed is now ready for use.

If a Cash Account hasn’t been selected for the bank feed yet, it must be selected now—the feed can’t be activated until an account is chosen. Only one bank feed can exist for each Cash Account.

Failed applications

To reduce clutter and make active applications easier to track, any failed or cancelled applications are displayed on the Track Cancelled Bank Feed Applications screen (MBCA2025). This screen has the same layout as the Track Bank Feed Applications screen.

Both screens can be opened using the toolbar buttons on the Apply for Bank Feeds screen (MBCA2010).

Multiple online bank feeds from one passcode

When applying for feeds online, the online passcode from the application in MYOB Acumatica can be used to set up multiple bank feeds from the same financial institution. In these cases, separate bank feed records will be created automatically for each bank feed beyond the first. The records are created once MYOB Acumatica receives notification from MYOB’s online services—click the Refresh button on this screen to check the online services for new bank feeds.

Changing cash accounts

Once set, the cash account associated with a bank feed cannot be changed. To change a bank feed’s account, you will need to cancel it from Manage Bank Feeds screen (MBCA2020), then apply for and activate a new feed as normal.

Cancelling bank feeds

To cancel one or more bank feeds, a user must select the feed(s) on the Manage Bank Feeds screen (MBCA2020) and click Cancel Selected Feeds. To reduce the possibility of accidental cancellations and to make it clearer that this is an action that cannot be undone, a warning message appears:

While anyone with access to the Manage Bank Feeds screen can use it to import bank feed transactions, only a user with the ability to apply for new bank feeds can cancel one from this screen, i.e. to cancel a bank feed, the user must be set up for Secure Authentication and authorised for bank feeds, see User authorisation.


Importing bank feed data

Once a bank feed has been activated, it will appear on the Manage Bank Feeds screen (MBCA2020). This screen displays all cash accounts that have an active bank feed:

The screen displays the results of the most recent import, including the date of the import, the user who initiated the import and the number of transactions imported.

Bank feed transactions can be imported by any user with access to the Manage Bank Feeds screen—the authorisation credentials needed to apply for a bank feed, see User authorisation, aren’t needed to import transactions.

To import transactions from a bank feed, either:

  • Select one or more feeds and click Import Selected Feeds, or

  • Click Import All Active Feeds.

Any warnings or errors encountered during an import will result in a warning or error icon at the left of the row—hover the mouse pointer over this icon for a short description of the problem. Detailed information on any errors appears on the Import Errors tab.

The Trans. Last Imported column displays the number of transactions imported in the last import operation. Clicking on this value opens the Import Bank Transactions screen (CA306500), showing the imported transactions:

A new Reference Nbr. is assigned to each batch of imported transactions. From this screen, users can continue to reconcile the imported transactions as usual, see Reconciling bank feed transactions.

In some cases, it may be necessary to edit the data on this screen—see importing bank feed data.

An Import Feed button is also available on the Process Bank Transactions screen (CA306000), if the selected cash account has a bank feed set up for it. Click this button to import transactions from the bank feed.

Reconciling bank feed transactions

Once bank feeds are received and available on the Import Bank Transactions screen, you can use the imported transactions for automated reconciliation and transaction creation.

Bank transaction matching

First, check the matching settings on the Cash Management Preferences screen (CA101000):

The Process Bank Transactions screen (CA306000) identifies the imported payments and tries to assign a match relevancy score based on the matching settings.

For example, an imported bank feed includes one transaction dated 11/07 for the receipt of $200.00 and one dated 12/07 for the receipt of $250.00:

On the Process Bank Transactions screen, the $200.00 transaction has a matching record in the system with the same date and Document Ref:

The $250.00 transaction also has a matching record in the system with the same date and Document Ref:

If you click Auto-Match, the system will automatically match all relevant transactions for you; otherwise you can match transactions from the list manually:

Automated bank transaction creation

Users can also create new transactions to match the imported transaction to on the Process Bank Transactions screen (CA306000), either manually or in an automated way using the auto-match process.

The rules used to creation transactions automatically are defined on the Bank Transaction Rules screen (CA204500):

Based on the above example, the auto-match process will apply a bank transaction rule to create a disbursement cash transaction where the transaction description contains EFTPOS:

After processing the bank transactions, all transactions that were matched or created will be available in the bank reconciliation area with the status “Cleared” for further processing:


Troubleshooting

Applying for bank feeds

Bank Feed Application Statuses

The following table lists all of the possible statuses that can be displayed for bank feed application. An application’s status appears in the header of the Apply for Bank Feed screen (MBCA2010) and in the Status column of the main table on the Track Bank Feed Applications screen (MBCA2015). Statuses are broken in down into two sections.

Status

Sub-status

Description

Open

 

The application record has been saved, but the application has not yet been submitted. A user can now submit the application by selecting Submit from the Actions dropdown on the Apply for Bank Feed screen (MBCA2010).

Pending

Awaiting Application Form

The application has been submitted, and it has been received by MYOB’s online services. A user can now use the Actions dropdown on the Apply for Bank Feed screen (MBCA2010) to download the client application form, then scan, upload and send a completed copy.

 

Awaiting Bank

 

The application has been sent, but the financial institution has not yet acknowledged having received it.

 

Processing Application

The financial institution has received the application and is currently processing it.

 

Online Passcode Generated

For Online applications, the passcode needed to set up bank feeds has been generated. A user must copy this passcode, then go to the financial institution’s website and set up bank feeds there, entering the passcode when required.

 

Rejected

 

The application has been rejected by the financial institution, but it may still be possible to successfully process it. See Applying for bank feeds for the errors that can cause an application to be rejected, and what can be done to correct them before re-sending the application.

Success

Active - Awaiting Transactions

The application has been approved, but transactions have not yet begun to appear in the bank feed. The bank feed can be activated by selecting Activate from the Actions dropdown on the Apply for Bank Feed screen (MBCA2010).

 

Bank Feed Ready

The application has been approved and transactions are available for importing into MYOB Acumatica. The bank feed can be activated by selecting Activate from the Actions dropdown on the Apply for Bank Feed screen (MBCA2010) if it has not been activated already. Users can then go to the Manage Bank Feeds screen to import transactions from the feed.

 

Cancelled

A previously active bank feed has been cancelled. To reinstate a cancelled bank feed, a user will need to create a new application.

 

No Longer Receiving Data

The financial institution has advised this account is no longer transacting (usually because the account is closed).

 

Transfer Completed

This status applies when a bank feed has been successfully transferred from another MYOB product, e.g. MYOB Exo Business.

Failure

 

The application has been rejected by the financial institution due to errors that cannot be corrected. See Setup process0 for the possible errors. A failed application cannot be re-sent; instead a new application will need to be created.

Application has status "Rejected"

A bank feed application returns the ‘Rejected’ status if the financial institution has rejected the application for the time being, but it is still possible to process the application, provided the errors that caused the rejection are corrected.

In most cases, an application will be rejected due to mistakes in filling out the client application form (CAF), as indicated by the error statuses below. These errors can be corrected by printing out a new copy of the form, filling it out correctly, then uploading it and re-sending the application.

 The system will always send the most recently uploaded version of the CAF.

  • Application Form Not Signed – the CAF was sent without a signature.

  • Bank Rejected Signature – the signature on the CAF does not match the signature that the financial institution has on file, or the CAF requires multiple signatures.

  • Hand-Written Amendments – there were handwritten amendments to the CAF or extra writing where there shouldn’t have been. Financial institutions will not accept any changes to the pre-printed information on the form.

  • Missing Full Card Number – when applying for a credit card bank feed, the full 16-digit billing account number has not been supplied.

  • Signature Not Matching At Bank – the signature on the CAF does not match the signature that the financial institution has on file.

  • Wet Signature Not Received – the CAF has not been signed by hand, e.g. a digital or stamped signature was used.

Other error statuses require you to contact the financial institution or contact MYOB by sending an email to bankfeeds@myob.com:

  • Account Type Required, Member Number Required or Member Number & A/C Type Reqd – the financial institution needs more details about the account. Contact MYOB with your serial number and the member number and/or account type of the account you are setting up a bank feed for.

  • Already Loaded – a bank feed application has already been processed for the selected account. Contact MYOB with the bank account details, serial number and company data file number of the file you want the bank feed to go to.

  • Rcvg Feeds With Diff A/C Name – a bank feed for the account is already active, but with a different account name. Contact MYOB with your serial number and company file ID so that we can help to resolve the issue.

  • Bank Requires Signature Update – the bank does not have a signature on file for the selected account. You will need to visit the bank and provide a signature for their records.

Application has status "Failure"

A bank feed application returns a ‘Failure’ status if the application was rejected by the financial institution due to reasons that cannot be corrected on the client application form (CAF).

You will need to create a new bank feed application, correcting the error that caused the failure. The reason for the Failure status will also be displayed, so you can see what needs to be corrected in the new application. Possible reasons for a failed application are:

  • Account Closed – the account that the bank feed was requested for has been closed. Create a new application, specifying an open account.

  • Account Holder to Contact Bank – the application has an issue that requires the account holder to contact their branch manager or account manager.

  • Account Type Not Supported – the financial institution does not support bank feeds for the kind of account that was specified on the CAF. Create a new application, specifying a different account.

  • Billing A/C Number Required – you have applied for a credit card and entered the number on the card on your application, but the bank wants the billing account number instead. Cancel the existing application, then find the card’s 16-digit billing account number (or “account number”), which is usually displayed on the credit card statement. Create a new application, specifying the billing account number.

  • Declined – the application has been declined without specifying a specific error. Contact MYOB for assistance.

  • Invalid Account Name, Invalid Account Number – the account name or number specified on the CAF is incorrect. Create a new application, specifying the correct account name. If you are sure the account name/number is correct, email a bank statement to bankfeeds@myob.com

  • Loaded With Another Provider – the nominated account is already linked to a bank feed from another provider. The existing bank feed will need to be cancelled before a new one can be applied for.

  • Primary Account Number Reqd – there is more than one credit card on the account/statement. You have applied using the number on the card, but the financial institution wants the primary account number. Create a new application, using the primary account number.

  • Unknown – an unknown error has occurred. Contact MYOB for assistance.

"Value cannot be null" message

If the error message “Value cannot be null. Parameter name: Application submission failed, submission details invalid” appears when submitting an application, check the details entered on the Apply for Bank Feed screen (MBCA2010). In particular, make sure that details like the BSB and account number contain numbers only—the presence of special characters like dashes or slashes can cause this error.

"Application form not available" message

Sometimes there can be a delay between a submitted application begin accepted and the client application form (CAF) for that application being generated. This means that, although the Download action in the Actions dropdown becomes available, the CAF isn’t available to be downloaded. If the message “Application form not available. Please try again later.” appears after selecting Download, this means that the CAF has not yet been generated—try to download it again later.

Importing bank feeds

MYOB service errors

Error messages like “An error occurred while sending the request” or “Proxy URL cannot be found” indicate that MYOB Acumatica was unable to contact the bank feeds service. There may be a problem with the service—try again later, or contact MYOB Support if the error persists.

No transactions are received

If no transactions are received from a bank feed, even though there are new transactions in the related bank account, this could be due to a delay in the online bank feed services. Depending on network conditions, it can take some time to receive transactions from a bank feed—in most cases, the transactions will come through if you try again later.

Most institutions deliver bank feeds daily. If you have already imported transactions from a feed once, then subsequent imports on the same day will not retrieve any new transactions.

Imbalances after importing

It is possible for errors like “Calculated Balance does not match Ending Balance” to appear on the Import Errors tab of the Manage Bank Feeds screen (MBCA2020) after successfully importing transactions from a bank feed. There can be several reasons for these errors:

  • If transactions are coming into the Cash Account from multiple sources, e.g. if transactions were imported from a CSV file using the Import Bank Transactions screen (CA306500) as well as from a bank feed. In this case, use the Import Bank Transactions screen to update the appropriate statement balance:

  • If there was a gap between when the bank feed was activated and when transactions were last imported into the Cash Account. Bank feeds import transactions dated from when the feed was activated—if any transactions prior to the activation were not already in the MYOB Acumatica system, they will need to be imported by another method, e.g. importing from a CSV file.

"MyDot authentication error" message on cancel

Cancelling a bank feed has the same requirements as applying for one: the user must be set up for Secure Authentication and authorised for bank feeds, see Setup process1. If either of these requirements are not met, the error message “MyDot authentication error. Please ensure you are logged in via MyDot.” will appear when a user attempts to cancel a bank feed on the Manage Bank Feeds screen (MBCA2020). 

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