The banking section is very weak compared to other software packages and lacks many useful functionalities, leading to substantial time inefficiencies when processing bank feeds.
-there is no functionality to create bank rules for split transactions (split one payment or receipt between multiple nominal codes)
-once you create or match a transaction in bank feeds, you lose the original reference/description from the bank statement. It creates problems with receipts from clients where bank rules cannot be used as they need to be matched to invoices, sometimes the payment reference in different to clients name and there is no record of how a statement line with this reference was recorded in the past.
- you are not able to revert back to bank feed once you have posted it
- once a statement line was recorded as other payment, I cannot edit it to be a bank transfer between accounts, instead I need to delete it and import it again.
- if I record a supplier payment as other payment in error, it is not possible to edit the entry and match to supplier invoice instead
These are the main weaknesses and missing features that really add up to extended processing times. At this time banking is very inflexible and it requires considerable load of manual work. If the above features could be improved/added it would really add value to the software. Recently I started working with Xero where all the above mentioned features are in place and the work experience was a lot smoother, not to mention the time saving.
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