MYOB EXO - Direct Debit Processing

05 November 2013 > MYOB Exo,

Direct Debits are a highly efficient means by which your business can establish the authority from your customers to deduct funds from their bank account to settle outstanding debt.

The MYOB EXO Finance Direct Debit Processing Module is designed so that you can process on transaction or process multiple transactions in batches.

A direct debit batch is a particular selection of debtor’s invoices that are due to be paid; these batches can be saved or retrieved for processing at any time.

Direct debits are handled in batches of debtors invoices selected for settlement. Confirmed batches can be consolidated to a single batch if required. Remittance advices can be created and a direct debit file created, then imported into desktop banking software for funds collection. Audit controls manage the whole process and assist in reconciliation.

To us direct debits your business also needs desktop banking software with a direct debit facility provided by all major banks today.

Features:

The following list identifies the key benefits of using the direct debit features in your business.

  • Integrated with the MYOB EXO Finance Debtors and General Ledger
  • Invoices can be selected for payment by using a number of filters
  • Batches can be created and held open for adjustment until confirmed
  • Remittance advices can be produced
  • During processing, detects whether an invoice has been subsequently paid
  • A processed batch creates all required accounting in MYOB EXO Finance debtors and General Ledger and produces the file to be loaded into desktop banking software
  • Configurable output file format that can be tailored to many banks desktop banking software

Reports

Both the subscription functions and the direct debit processing function come standard with the relevant reports, however because it is all cone integrated solution you can utilise the power of the MYOB EXO Finance reporting tool to customise these reports or write new ones specific for your business.

Subscriptions Billing and Direct Debit Processing modules need to be activated in EXO for you. Please don’t hesitate to contact us if you wish to discuss this module further or request activation.

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