MYOB Import Bank Statement - Australia & NZ Complete Guide 2025
Import bank statements into MYOB from PDF/CSV in 2 minutes. Complete guide for Australian and New Zealand accountants covering MYOB AccountRight vs Essentials, CSV format requirements, ABA file imports, GST codes for BAS reporting, and regional quirks. Works with MYOB AccountRight, MYOB Essentials, and MYOB Business.
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TL;DR - MYOB Bank Import
Best Method: PDF → Convert to MYOB CSV → Import (2 min vs 2.5 hours manual)
AccountRight vs Essentials: Same CSV format works for both, AccountRight adds job costing and multi-currency
GST Codes: GST (10%), N-T (no tax), FRE (GST-free), CAP (capital) - critical for BAS reporting
ABA Format: Faster import if your bank provides ABA files (Australian Banking Association format)
ROI: Solo accountant with 10 clients saves $23,190/year (4,733% ROI), firm with 30 clients saves $86,892/year
Regional: DD/MM/YYYY dates, July 1 - June 30 financial year, super payments use N-T code
MYOB CSV Format Requirements
| Field | Format | Required | Notes |
|---|---|---|---|
| Date | DD/MM/YYYY (Australian format) | Yes | MYOB auto-detects but prefers AU format |
| Description | Text (max 255 characters) | Yes | Used for matching bank rules |
| Reference/Cheque No. | Text or Number | No | For cheque reconciliation |
| Amount | Number (2 decimals) | Yes | Positive for deposits, negative for withdrawals |
| GST Code | N-T, GST, FRE, CAP, etc. | No (AU: Yes) | Required for BAS/GST reporting in Australia |
| Account | Account number (4-digit) | No | From MYOB chart of accounts |
| Job | Job name or number | No | For job costing (construction/trades) |
MYOB AccountRight vs Essentials
| Feature | AccountRight | Essentials | Difference |
|---|---|---|---|
| CSV Import | Full support via File → Import | Online CSV import tool | Both support CSV - same format |
| Bank Feed | Built-in bank feeds | Built-in bank feeds | Both support ~100 AU/NZ banks |
| GST Handling | Comprehensive GST codes | Simplified GST (GST, FRE, N-T) | AccountRight has more codes for complex scenarios |
| Job Costing | Full job tracking | Limited job features | AccountRight better for construction/trades |
| Multi-Currency | Yes (foreign bank accounts) | No (AUD/NZD only) | AccountRight for importers/exporters |
| Pricing | AU$50-90/month | AU$27/month | Essentials cheaper for simple businesses |
Import Methods Compared
| Method | Time/Statement | Accuracy | Best For | Common Errors |
|---|---|---|---|---|
| Manual Entry into MYOB | 2-3 hours per statement | 87-92% (human error) | Never recommended | Wrong GST codes, missed transactions, BAS errors |
| MYOB Bank Feeds | Real-time automatic | 98% (if supported) | Major AU/NZ banks | Limited to ~100 banks, no historical data |
| ABA File Import | 20-30 min per file | 95-97% | Banks providing ABA format | Not all banks provide ABA files |
| PDF Conversion + Import | 2 min per statement | 99.7% | Regional banks, credit unions, historical imports | <0.3% with AI conversion, works with any bank |
Australian GST Codes Reference
| Code | Description | Usage | Notes |
|---|---|---|---|
| GST | Goods & Services Tax (10%) | Most business purchases and sales | Standard Australian GST rate |
| N-T | Not reportable (No Tax) | Wages, dividends, loan repayments | Transactions outside GST system |
| FRE | GST-free (0%) | Exports, basic food, health, education | Zero-rated but reportable on BAS |
| CAP | Capital purchases | Assets over $1,000 | Special BAS treatment for capital items |
| EXP | Export sales | Sales to overseas customers | Zero-rated exports (GST-free) |
| G1 | Sales subject to GST | Standard sales in Australia | For AccountRight (more granular) |
| G10 | Capital purchases > $1,000 | Vehicles, equipment, property | Special BAS G10 line treatment |
| G11 | Non-capital purchases < $1,000 | Operating expenses with GST | Standard business expenses |
Regional Quirks: Australia & NZ
| Quirk | Issue | Solution | Impact |
|---|---|---|---|
| Date Format | Australia uses DD/MM/YYYY, US banks export MM/DD/YYYY | Always convert to DD/MM/YYYY for MYOB | High - wrong format = import failure |
| ABA Format | Australian Banking Association format is unique to AU/NZ | Use ABA import if bank provides it (faster) | Medium - not all banks support ABA |
| BAS Reporting | GST codes must match ATO BAS categories exactly | Use MYOB's standard GST codes, verify G1/G10/G11 | Critical - wrong codes = ATO penalties |
| Financial Year | AU financial year is July 1 - June 30 (not calendar year) | Ensure date ranges cover correct FY periods | Medium - affects annual reconciliation |
| Superannuation | Super payments need N-T code (not GST) | Create bank rule for super: auto-assign N-T | High - super is GST-exempt |
Import Bank Statements to MYOB in 2 Minutes
Perfect MYOB CSV format with GST codes, DD/MM/YYYY dates, and ABA compatibility.
Start Free ConversionCommon Import Errors & Solutions
GST Code Missing on BAS Items
Symptom: BAS report shows incorrect GST collected/paid, mismatch with ATO
Cause: Imported transactions without GST codes or using N-T incorrectly
Solution: Re-categorize transactions with correct GST codes (GST, FRE, CAP)
Prevention: Always include GST column in CSV, create bank rules for recurring transactions
Date Format Rejection
Symptom: MYOB rejects import: "Date format not recognized"
Cause: CSV has MM/DD/YYYY (US format) instead of DD/MM/YYYY (AU format)
Solution: Convert all dates to DD/MM/YYYY before import
Prevention: Use AU date format or unambiguous format (DD-MMM-YYYY)
Duplicate Bank Feed + CSV Import
Symptom: Same transaction appears twice (feed + CSV)
Cause: Bank feed active while importing CSV for same period
Solution: Disable bank feed before CSV import, or manually delete duplicates
Prevention: Choose ONE method: bank feed OR CSV import, never both
Job Allocation Missing (Trades)
Symptom: Cannot track job profitability after import
Cause: CSV missing Job column, transactions not allocated to jobs
Solution: Add Job column to CSV before import, or allocate manually after
Prevention: For construction/trades, always include Job field in CSV
ROI Analysis: Australian Accountants
| Scenario | Manual Time | With Bulk | Time Saved | Net Saving | ROI |
|---|---|---|---|---|---|
| Solo Accountant (10 MYOB clients) | 240 × 2.5 hours = 600 hours | 240 × 2 min = 8 hours | 592 hours | $23,190/year | 4,733% |
| Accounting Firm (30 MYOB clients) | 900 × 2.5 hours = 2,250 hours | 900 × 2 min = 30 hours | 2,220 hours | $86,892/year | 4,554% |
| In-House Bookkeeper (1 company, 4 accounts) | 48 × 2 hours = 96 hours | 48 × 2 min = 1.6 hours | 94.4 hours | $2,657/year | 542% |
FAQ: MYOB Bank Imports
What's the difference between MYOB AccountRight and Essentials for bank imports?
Same CSV format works for both. AccountRight adds job costing (critical for construction/trades), multi-currency support (for importers/exporters), and more granular GST codes (G1, G10, G11). Essentials is simpler and cheaper (AU$27/month) but limited to AUD/NZD. Choose AccountRight if you need job tracking or foreign currency.
How do I handle GST codes for BAS reporting?
Use GST (10%) for standard purchases/sales, N-T for wages/super/dividends, FRE for exports/basic food, CAP for capital purchases over $1,000. Wrong GST codes cause BAS mismatches with ATO. Our converter can auto-assign standard GST codes, or you can specify per transaction. Critical for quarterly BAS lodgement accuracy.
Should I use MYOB bank feeds or CSV import?
MYOB bank feeds work with ~100 major AU/NZ banks (NAB, CommBank, ANZ, Westpac, ASB, ANZ NZ, etc.). For regional banks, credit unions, or historical data imports, CSV is the only option. CSV also gives complete control over GST codes before import. For accountants with multiple clients, CSV bulk processing is 20x faster than feeds.
What is ABA format and should I use it?
ABA (Australian Banking Association) format is a standardized file format used by Australian banks. If your bank provides ABA files, use them - they're pre-formatted for MYOB and import faster. However, not all banks provide ABA files. PDF-to-CSV conversion works with ANY bank statement, including those without ABA support.
How do I handle the Australian financial year (July 1 - June 30)?
MYOB automatically handles Australian FY. When importing, ensure date ranges cover complete FY periods for year-end reconciliation. For tax time (July-October), import full FY data (July 1 - June 30) to match tax return. Our converter preserves exact transaction dates, ensuring proper FY allocation in MYOB.
Import to MYOB in 2 Minutes
Perfect CSV for MYOB AccountRight and Essentials. GST codes, DD/MM/YYYY dates, ABA compatible. Australia & NZ ready.
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