The Bulk Manage Payees is essentially a handy shortcut from the place you’re most likely to realize your list of payees could use a little tidying up — in the Accounts screen.
When you’re entering a new transaction and you click in the Payee field and notice multiple versions or spellings of the same payee, now there’s a link directly to the payee management tool. Click on that link, do a little housekeeping, then come back and enter your transaction.
I’m not sure why this setting hasn’t been pulled from the Toolkit yet since this functionality has now been added to You Need A Budget’s core code.
Either way, it’s a very handy little feature that greatly improves workflow.