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