What does the MYOB Integration do?
Looking at integrating with MYOB — high level
Funding applications that are awarded funding go through a milestone process to ensure collection & approval of deliverables tied to an application and to allow release of payments.
However, without an integration with MYOB, administrators must manually create the Bills in MYOB for each approved Milestone as well as create a MYOB Supplier for the applicant if they don't already exist. Additionally, when the Bills are paid in MYOB the Milestone must be manually marked as Paid in Tahua to notify the applicant of remittance and update the payment status.
Our MYOB integration solves all of these problems and more by automating the construction of Bills in MYOB with an attached audit document and any invoiced deliverable that might have been collected. As part of the syncing process any associated applicant is automatically created in MYOB or mapped to an existing MYOB Supplier that might have been created outside of Tahua. Payment statuses are pulled automatically from MYOB back into Tahua to notify applicants of their payment.
This drastically reduces admin time at the finance stage of the grants process, increases audit and traceability around payment approval, and streamlines the payments reconciliation process.
The images below illustrate the high-level process and example flows depending on whether you use Milestones with or without Contracts.
If you are using Milestones without Contracts, the process diagram below explains how the integration might look for your organisation:
If you are using Milestones with Contracts, the process diagram below explains how the integration might look for your organisation:
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