MYOB Reconciliation
When you connect MYOB to pay.com.au, reconciliation happens automatically. Here's what's going on behind the scenes so you know exactly what to expect in your MYOB account.
The PAY AU CLEARING MYOB account
When you connect MYOB, pay.com.au automatically creates a bank account in your MYOB called PAY AU CLEARING MYOB. You don't need to set this up — it's created for you.
This account acts as the hub for every payment you make through pay.com.au. Each payment passes through it and nets to zero.
Do not archive the clearing account
Do not archive the PAY AU CLEARING MYOB account that pay.com.au creates in MYOB — doing so will impact reconciliation.
What happens when a payment is processed
For every bill paid through pay.com.au, MYOB records three transactions:
- 1 The bill is settled
A payment is drawn from the PAY AU CLEARING MYOB account against your bill. This marks the bill as Paid and applies the expense coding you already set when you created the bill in MYOB — no extra account mapping required. - 2 The processing fee is recorded
A separate transaction records pay.com.au's processing fee against the expense account you selected during the payment. This keeps your fee costs clearly coded and separate from the bill itself. - 3 The total is transferred from your bank account
A transaction moves the total (bill amount + fee) from your nominated MYOB bank account into the PAY AU CLEARING MYOB account.
The PAY AU CLEARING MYOB account nets to zero — the bill payment and fee go out, and the transfer comes in. Your nominated bank account shows a single debit for the total.
Reconciling your bank account
When your bank statement comes through — either via an automatic MYOB bank feed or a manual import — the debit on your bank statement will match the TransferMoney transaction already recorded in MYOB. Select Match to reconcile.
Don't manually mark bills as Paid in MYOB
The Bills Payment that settles your bill is created automatically once your payment is processed by pay.com.au. If you manually mark a bill as Paid before this happens, it will create a second payment that leaves the bill over-applied and out of balance. Always let pay.com.au update the bill status on its own.
Quick summary
| Transaction | Type | Effect |
|---|---|---|
| Bill settled | Bills Payment | Bill marked Paid in MYOB |
| Processing fee | Spend Money | Fee coded to your chosen expense account |
| Bank transfer | Transfer Money | Total debited from your MYOB bank account |
| Clearing account | — | Nets to zero automatically |