If you have many customer deposits daily (50 per day on average) on the bank statement, how well does MYOB bank feeds work in this case? In terms of allocating deposits to various customer invoices etc? At the moment I am receiving payments through Sales by going through the bank statement deposits by each transaction.
Not sure if uploading the bank feeds option will make less or more work and would love an opinion on this?
Thank you
Hi LisaW21,
Thanks for posting and welcome to the Community Forum.
I understand we're trying to know how bank feeds would benefit our workflow. Generally, if we don't have bank feeds, we manually record each payment for each invoice. In this process, we will need to find the invoice, open it, click make a payment, and input all payment information. On the other hand, if we have bank feeds, the transactions from the bank get sent to the file. We could match these transactions to each invoice and the application would record the payment according to the details on the bank transaction, this is especially easier if you have varying values of payments as the application would show you possible matches for each transaction.
I would recommend reading through this article How bank feeds can work for you.
Let us know if you require any other questions. We're happy to help.
Cheers,
Genreve
