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Understanding Debtors Payments and Banking Batches

 

Some of our clients report that this area of MYOB EXO Finance is confusing.  The purpose of this document is to explain the process more clearly and provide a recommended process.

The purpose and benefit of Debtors Banking Batches are:-

  • Production of banking documents
  • Consolidated postings to General Ledger to assist with Bank Reconciliation (eg post Eftpos transactions as one amount to match what appears on your Bank Statement)
  • Support of multiple bank accounts in General Ledger
  • Automatic calculation of Banking fees
  • Ability to have one User (accounts clerk) enter the payments, and another User (admin mgr) to check and post them