Highlighting the functionalities of Direct Banking:
- Integrates Business Central with Ponto or Cobase bank integration
- Syncs your bank accounts in real-time or on a schedule
- Imports bank accounts, bank statements, and transactions directly
- Reconciles imported transactions with outstanding customer/vendor/employee or bank account ledger entries
- Enables payment initiation and export of payment requests directly to your bank through your integrated provider
- Allows payment approval from Business Central or within your provider’s portal
- Secures all communication with the bank integrations through an API without using files
- Utilizes the capabilities of the Ponto or Cobase platform for advanced authorization flows, balance overviews, and intercompany payments
These functionalities will save time and effort for financial controllers or administrators responsible for paying vendors or employees or reconciling outstanding invoices with bank statements. With Direct Banking, they can enjoy quick returns on investment, real-time insights on account balances within Business Central, execute quick payments, and improved automated matching of transactions and outstanding ledger entries.