A bank statement is a list of all transactions for a bank account over a set period, usually month. MYOB gives you the option of manually importing the bank statement file onto their platform but they accept files in a specific format (QIF format).
Volopay will make it easier for you to manually integrate your transactions from Volopay on to MYOB by exporting a single file in the required format. It eliminates the need to upload every transaction individually and reduces any chances of manual error.
It is as simple as going to the Ledgers section of Accounting and clicking on Export. Select the date range and the file format as QIF. The file will be exported and you can download it from the Downloads tab under the Alerts section on Volopay.
You can export the Ledger in AUD currency and import it to MYOB directly.
Creating a new bank account on MYOB
You can create a new bank account on MYOB from the chart of accounts section under Accounting. Click on the “Create Account” button and fill in the details. This new account will be available in the dropdown while importing the QIF manually to MYOB.
Import the exported QIF file on to MYOB
Once you select the Bank Account that you want to attach the transactions with, you can click on the “Import statement file” under Bank transactions. Select and upload the QIF file downloaded from Volopay. It might take a few minutes to upload the file depending on the size of the file.
Once the file is uploaded, all the transactions made on the Volopay platform will be reflected in your MYOB account. Debit in Volopay will be reflected as Withdrawal in Myob and credit will be reflected as Deposit.