This feature is found in all product versions and was released during the May 2011 product release 

 

This function is designed to allow you  to process general receipts and payments direct to a General Ledger account without the need to create a sundry Supplier of Customer account. In the past this could always be processed through the General Journal function but was a little complex. Now all you have to do is to select the Bank account from which you wish to process, then switch between the Receipts and Payments tabs to enter the relevant transactions as illustrated below. A batch can have a combination of both receipts and payments or can just have payments or receipts on their own.  

The Update Bank In Detail option at the bottom of the screen affords you the ability to post one contra entry to the bank account as a summary figure, of or whether you would like to post a contra entry to the bank account for each transaction in the batch.  
If the batch transactions are of a nature that you process regularly such as bank charges or debit orders, you can save the batch of transactions for recall later,  alleviating the need to have to recapture the batch details again. Simply recall the batch, amend the transactions and update accordingly.