Why do I need virtual bank accounts?

Why do I need virtual bank accounts?

Using virtual accounts provides a much more streamlined and accurate way of managing finances within AimyOne and Xero. Overall, they provide a more controlled and reliable workflow for managing payments and accounting.

Key benefits include:
  1. Automated overpayment handling: Overpayments are automatically tracked and allocated correctly, reducing the need for manual adjustments.
  2. Clear separation of funds: Subsidy payments and payment gateway transactions are kept separate, making it easier to understand where funds are coming from.
  3. Clean audit trail: Every transaction is clearly recorded, giving you full visibility and making audits or reviews much simpler.

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