Fenwick Gold POS Reconciliation

Fenwick Software is about to release Fenwick Gold v5.1, adding further functionality to enhance Dynamics NAV. Two of the most exciting features developed for this release are: Direct Debits, and Point of Sale (POS) Reconciliation. These granules will be additional features of our Fenwick Gold eBanking module.

Direct Debits

Direct Debits is a convenient and efficient way to allow your business to automatically withdraw funds from an authorised customer’s bank account. Once Direct Debit authorisation has been setup with your bank, you can simply set the Customer Payment Method to Direct Debit. Running the new Suggest Customer Receipts function will automatically populate the Cash Receipt Journal with payment suggestions based on posted Invoices. A Direct Debit ABA file can then be exported and uploaded to your banking software and the journal posted.

Point of Sale (POS) Reconciliation

POS Reconciliation has been designed for businesses that receive POS payments at the time of sale. The payment method is captured at the time of posting. Using the Suggest Customer Receipts functionality your business can efficiently summarise all transactions using a specified payment method. This functionality will allow you to reconcile against your POS terminals and your collected cash and cheques. You can then also print the standard deposit slip for banking. To handle any transaction fees charged by your bank or a 3rd party provider we have developed functionality that allows you to allocate a bank fee against each payment method. Bank fees are populated into the journal and you can then balance the journal to your bank account to make your bank reconciliation process simpler.

As well as these two important additions, Fenwick Gold v5.1 will include minor enhancements to improve the overall Microsoft Dynamics NAV product. From usability improvements to new functionality, Fenwick Gold will continue to improve your businesses experience with NAV.

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Written By Jacob Squillace

Jacob joined Fenwick Software in 2016 while studying for his Bachelor of Information Technology degree at Swinburne University. He was employed in early 2017 following his graduation. During his time at Fenwick Software Jacob has applied his knowledge to the implementation, enhancement and modification of Microsoft Dynamics NAV for Fenwick clients. Jacob has subsequently taken on a lead support role with multiple clients.

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