Recurring billing made easy in MYOB Exo

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The MYOB User Groups sessions are a great opportunity to meet, connect, and share experiences with fellow MYOB users and experts.

This October, join us for an engaging a NEW format designed to provide valuable insights. The theme is Supercharging the Customer Experience, where you’ll gain insights, hear success stories, and participate in open Q&A sessions to build better relationships with your customers.

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Generic Inquiries Masterclass | for MYOB Acumatica users
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For companies that manage recurring billing, the MYOB Exo Subscriptions module offers a robust solution to streamline and automate invoicing processes. Whether you are managing weekly, monthly, quarterly, or annual billings, you can set up, manage, and execute your recurring invoices with ease. MYOB Exo Subscriptions is an enhancement module available free of charge to everyone with a current MYOB Exo Business license. 

What is MYOB Exo Subscriptions?

The MYOB Exo Subscriptions module is designed to handle the complexities of recurring billing, ensuring that your customers receive accurate invoices on time, every time. By automating these processes, you can save valuable time, reduce errors, and improve cash flow management.

Benefits of automating recurring billing

Automating recurring invoices is beneficial for several reasons:

• Time Savings -Manually creating and sending invoices each billing cycle is time-consuming. Automating these billing cycles frees up valuable time for your team to focus on other important tasks.
• Error Reduction -Manual invoicing is prone to errors. The MYOB Exo Subscriptions module mitigates the risk of keying in incorrect amounts, missing an invoice period, or duplicate entries. Automated systems minimize these risks, ensuring accuracy and consistency in your billing process.
• Improved Cash Flow Management – Invoices that are sent out on time are more likely to be paid on time. Getting paid on time improves cash flow and financial stability and has a compounding effect the more billing cycles you can automate.
• Enhanced Customer Experience -Automated invoicing maintains the reliability and consistency that is much appreciated by your customers.
• Cost Efficiency -Automation reduces the need for manual intervention, lowering administrative costs associated with billing.
• Scalability -Recurring batches of invoices are scalable, allowing you to handle a larger volume without additional effort.
• Better Record Keeping -Automated invoicing systems maintain accurate and organized records of all transactions. This makes it easier to track payments, manage disputes, and prepare for audits.
• Compliance and Reporting -Automation simplifies report generation and analytics, providing valuable insights into your billing operations and financial performance.

How to set up recurring subscriptions

The MYOB Exo Subscriptions module is part of the standard suite of tools available with MYOB Exo Business. Log in using your Exo username and password.  The two main processes in the Subscriptions module are:

1. Creating new or modifying existing subscriptions and,
2. Executing a billing run.

When creating a new subscription, the start date and billing frequency can be scheduled ahead of time along with the duration of the subscription. 

Add the details of your invoice into the subscription in the same way you would to a Sales Order. Invoices will be created as part of the billing run and posted against the debtor accounts configured in the subscriptions.  Additional information can be captured in extra fields. Invoices will be billed in a batch based on the Frequency noted in the subscription setup.

The MYOB Exo Subscription module has standard reports available; however, you can use Clarity to write custom reports based on the billing data.

The MYOB Exo Subscriptions module is a powerful tool for automating recurring invoices. Visit our training portal to learn more about MYOB Exo and how you can streamline even more processes with clever technology.

Interested in other ways to optimise MYOB Exo?

Check out our handy MYOB Exo Tips and Tricks blogs here:

1. Improved Deposit Management in MYOB Exo
2. Leverage Extra Fields in MYOB Exo
3. Harnessing the Power of Job Costing
4. In-app Messaging and Disconnecting Users in MYOB Exo
5. Improved control and visibility of MYOB Exo
6. Simple steps to set up a Mailshot in MYOB Exo
7. Recurring billing made easy in MYOB Exo

The Ultimate Compilation of Tips and Tricks – MYOB Exo

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Are you using the latest version of MYOB Exo?

MYOB Exo has a long and rich history, from its early days as ExoNet to the latest releases. Each version adds new features and functions to your already robust system. The newest update to the software will always give you benefits over the older versions. Added functionality may be as simple as an improved workflow, a new widget, a tidier report, or more complex functionality like Bank Feeds. Access to these features is included in your Annual Licence Fee (ALF), so you are missing out on added value by not keeping your system current. Regularly updating your software ensures your team maintains a reliable, powerful platform to suit your organisation for years to come.

MYOB Exo Information Pack eBook

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Using the latest version of MYOB Exo gives you access to these new features and many others. Contact our team to discuss your options if you would like to upgrade your MYOB Exo software. Please send an email to our friendly team at samacs@kilimanjaro-consulting.com or call 1300 857 464 (AU) or 0800 436 774 (NZ).