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When will M-Powered payments be available on the Live version? I cannot move from Premier to Live as I use M-Powered payments?
Welcome to the MYOB Community Forum, I hope you find plenty of useful information.
As far as I know M-Powered service will never be available in the Account Right live versions.
At present you don't need the M Powered because you have the ABA bank file payments and the online Invoice payments as well as the Pay Super.
I have changed all of my clients that were using M Powered over and they all are happy with the new program.
AccountRight 2018 doesn't support M-Powered Payments, we are currently exploring alternative solutions for this functionality with new versions of AccountRight. We are aiming to deliver a solution before September 2019.
Thanks. What are the disadvantages of moving to ABA file uploading instead of using an M-powered. What functionality would l lose?
M-Powered Payments automatically arranges payment is made in AccountRight. The ABA file process will generate an ABA file which you would need to upload to your bank to make payment.
There may be some additional costs from the bank in processing that ABA file but you would need to speak to the bank to see if that is the case.
To me, the biggest disadvantage of using ABA files is that they can be easily manipulated by an employee intent on committing fraud (the bank account numbers can be changed). If you use M-Powered Payments and restrict access to the bank account information in the Card Files, then it is not possible for someone to modify bank account numbers without your knowledge.
The other minor disadvantage is that there are a few more steps involved in importing an ABA file, so it takes a little longer to do.