Integration with Financial Modules
The Cash Management module is seamlessly integrated with the General Ledger, Accounts Payable, and Accounts Receivable modules. All cash account transactions entered in these modules will automatically be collected by the Cash Management module for clearing and reconciliation. Transactions entered in the Cash Management module which are linked to a vendor or customer account will create entries in the Accounts Payable or Accounts Receivable modules and update the appropriate balances.
Cash Account Transfers
MYOB Advanced allows you to transfer funds between bank accounts and track funds that are in-transit. If you transfer between accounts in different currencies, MYOB Advanced will automatically calculate the realized currency gains or losses. You can also record any associated bank expenses directly in transfer form.
Bank Account Reconciliation
MYOB Advanced simplifies the process of reconciling your account balances with bank statements. For each bank account you can enter the statement information provided by the bank and reconcile it with cash account transactions in the system. While performing the reconsideration you can add bank charges, bank interest, and record any omitted cash related transactions directly from the reconciliation screen.