MYOB Live2Air Roadshow Special – your questions answered (part 2)
30th March, 2015
Last week I brought you a bunch of answers to questions that came through in the Q&A session of the MYOB Live2Air Roadshow Special. Topics convered in that post included AccountRight / Essentials Accounting, Smart Bills, and Pay Super / SuperStream.
Today we cover the following two categories:
BankLink
Kelly asked about daily bank feeds in BankLink
Q: Does the direct connection for the bank feeds overnight with Commonwealth and Westpac also work with BankLink?
A: BankLink accepts a feed from Commonwealth and Westpac on a daily basis. This data is then cleaned up in-house and made available to our accountants and SMEs the same day.
Danny also had a question about bank feeds
Q: Can I import the bank transactions on a daily basis, or do I have to wait until the statement end period and do a full month at one time?
A: You can import transactions into BankLink Practice whenever they are available. You can set your feeds to either daily, weekly or monthly by contacting client services. Feed availability is set by the institution. Whereas most large banks are daily, some of our credit unions may only be available on a monthly basis.
Murray wants to know about quotes and invoicing
Q: My clients require quoting & invoicing facilities. Is BankLink to release/enable these features?
A: BankLink has a standalone tool for invoicing – BankLink InvoicePlus. Please speak to your Partner Manager about this. If a client requires quoting, we recommend they use MYOB Essentials.
Peter asked about BankLink’s chart of accounts
Q: Is the BankLink software a standard MYOB chart of accounts or is it mirrored to AO / AE chart of accounts?
A: BankLink uses the chart that you use in your General Ledger. The Refresh Chart option is used for those practices that have a direct link to their accounting or superfund system’s chart of accounts. Select Refresh Chart each time a change is made to your client chart in your accounting or superfund system to keep MYOB BankLink Practice complete and up-to-date.
If there is no link between your main accounting or superfund system chart of accounts and MYOB BankLink Practice, you can create a standard chart of accounts directly within BankLink Practice.
Chris wants to know about BankLink’s future
Q: I’ve heard on the grapevine that MYOB is getting rid of BankLink. True?
A: False. BankLink is a huge part of MYOB’s plans now and in the future. Don’t believe the scuttle butt. BankLink is here to stay.
PayDirect / OnTheGo mobile apps
Julie had a question about invoicing and quotes in OnTheGo
Q: Creating an invoice, can it be any layout? Can you create quotes?
A: The MYOB OnTheGo app supports item and service invoices. You can select any template for these type of invoices. It doesn’t support time billing, professional and miscellaneous invoices.
Anna wanted timelines for PayDirect Online
Q: is PayDirect Online available for both AccountRight and Essentials? Timeframe?
A: AccountRight, mid year. Essentials, late 2015.
Helena wanted a comparison between PayDirect and the banks’ offerings
Q: Hi, what are the differences in cost between having a mobile EFTPOS machine the banks offer, and your pay machine? Thanks.
A: MYOB PayDIrect is quick and easy to set up, less upfront investment, no lock in contracts, no ongoing hardware rental, and integrates with accounting software.
Ginetta had a transaction fee query
Q: Do we have to pay merchant fees etc for receiving credit card payments via the PayDirect card swiper facility?
A: Yes there are merchant fees associated with MYOB PayDirect. Credit card fees are 1.95% per transaction (inc. GST) and EFTPOS fees are 35c per transaction (inc. GST).
Keira had a curly question regarding manual card data entry
Q: With PayDirect, can you input credit card details manually rather than having the client there with the card?
A: Not currently – MYOB PayDirect is a card-present payment system
Linda wants to confirm the invoicing experience is the same with MYOB OnTheGo and AccountRight / Essentials
Q: When generating an MYOB OnTheGo invoice, does it look the same as those invoices generated from desktop e.g. logo?
A: Yes. If you raise and invoice in MYOB OnTheGo and email it to your customer, what they see will be the same as if you’d sent it from your desktop.
Anne has a question about mobile platforms for MYOB OnTheGo
Q: I have Nokia windows 8 mobile – is OnTheGo available on the Nokia?
A: No. MYOB OnTheGo is currently only available on iOS and Android phones.
Julie wanted to know how to connect MYOB OnTheGo to her AccountRight
Q: I have downloaded the MYOB OnTheGo app. I how do I connect to my AccountRight contacts and invoice details?
A: Sign in using your MYOB account credentials. Once you’ve signed in, you will see the cloud data files associated with your account.
Caz wanted to know costs
Q: how much does the PayDirect card reader cost?
A: $125.00 (ex GST).
Roadshow Live2Air Recording
Want to catch the entire MYOB Live2Air Roadshow Special in full? Here it is!
* Prices for PayDirect Mobile will change on 1 March 2017. All PayDirect Mobile customers will be moved to the new pricing plan. PayDirect Mobile credit card transaction fees will increase to 1.95% and EFTPOS transaction fees to $0.35 (inc GST). PayDirect Mobile invoices come from Bendigo Bank and will be displayed excluding GST (credit card transaction fees of 1.77% ex GST and EFTPOS transaction fees of $0.32 ex GST).