Online Banking – producing csv files for you to bulk pay bills
Who Do You Trust with Your Online Banking Details?
The answer is no-one. If you need your book keeper to pay wages or supplier bills – they should have their own login and password independently of yours. This can be arranged with most banks by going into a branch.
If you require your book keeper to process your payments – they can create .csv files which you upload through online banking to pay suppliers as bulk payments, saving you time.
There are a couple of area’s that you need to watch if you are going to use .csv files. Only the owner of the online banking details should be authorised to add new bank account details within the software so that these can be checked against paperwork provided by suppliers/employees to ensure monies are being paid to the designated accounts. If the book keeper uploads the .csv file, the Director/Owner should be approving the payments before they are release from the bank.