ABSS / MYOB is now link to DBS Bank feed and payment function. ABSS / MYOB Premier v21.1 and Account v26.1 has been launch with the enhanced feature for its users. Good start for businesses who had been looking for this function.
Read up on this article on DBS news article. You can also read up What’s New in ABSS Premier v21.1 and Accounting v26.1.
So what does bank feed do, and how does payment function of the new version benefits its user?
DBS bank feed simply means your MYOB accounting software can now connect to your bank to draw information of your banking transactions directly. Users will need to connect and login to their DBS Internet bank to initiate the connection. Once done, you get your bank statement transactions downloaded into your MYOB software.
Bank reconciliation will be a breeze now as transactions are matched to your bank feed as compared to a physical bank statement. Depending on number of transactions you are having, you might get to save from 15 minutes to an hour every month doing the bank reconciliation.
Another banking function you will get to enjoy is the payment upload facility. When you do a “Pay Bills” in MYOB with the connected bank, upon clicking of record, it will automatically upload the payment details of that transaction into DBS bank. Authorised bank user will then login and approve the transaction through internet banking portal of the bank.
This payment function will help those who often do payment of supplier bills via internet banking. It will save you up to few hours a month if you happen to be doing a lot of supplier payment online.
If you are using DBS bank and you have loads of transactions that you spend hours doing bank reconciliation and supplier payment every month, ABSS / MYOB link to DBS bank will be a feature you would want to consider.
We hope ABSS / MYOB new features simplify your operations.
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