BPCS Cashbook

Cashbook Journal Entry is a BPCS-specific tool that replaces BPCS Cash & Memo Posting (ACR500).

The module has been benchmarked against the standard ERP offering and was proven to be 50% faster over an average sample of weekly transactions.

In addition to speeding up the cash application process, it allows users in the Finance Department to avail of several crucial exceptions not handled or only partly handled in BPCS.

Features

Cashbook Journal Entry allows users to perform the following Finance functions in a manner that is completely integrated with the existing ERP system and processes:

Manual Cash Receipts with update to CEA Ledger via BTP
Manual Cash Payments with update to CEA Ledger via BTP
Manual Cheque print for one off payments with remittance advice
Customer Receipts with allocation to BPCS ACR
Unallocated cash with document prefixing
Unallocated cash without document prefixing

Creation of Debit and Credit Notes whilst in AR allocations
Cash application of debit/credit notes whilst in AR allocations
Full support for input and output tax with updates to BPCS files
Customer Receipts in non invoice currency
Vendor Payments with allocation to BPCS ACP
Inter bank account transfers
Configurable User fields

Benefits

Journal Entry is all about saving the Accounts team time. Benchmarks show the module to be 50% faster than ACR500.It provides a user-friendly alternative to exceptions that are not always easily handled in BPCS.

Establishing clear, easy to implement processes within the Finance function is often a major objective for Financial Controllers. Journal Entry provides a single point of entry when dealing with company cash in all its different forms. It makes standard processes easier to establish and also easier to monitor.

A full comparison of the benefits of this module compared to ACR500 is listed as follows:

ACR500 Information Displayed	Cashbook Information Displayed
6 lines for cash allocations Listed by oldest transaction first Fold options F11 reduces invoices displayed to 3. No position to function Invoice Part-Payment information not easily displayed.	15 lines for cash allocation Invoice sorting Date sorting Amount sorting Position to function on Invoice, Date, Amount, Invoices partly paid are highlighted in red. Invoices past discount due date are shown in white.
Invoice Selection	Invoice Selection
Repetitive nature of data entry Rigid allocation process Invoices selected by choosing combination of Prefix, Document, Amount, Finance Discount, G/L Reason Code De-selecting invoices involves manipulating Prefix, Document, Amount, Finance Discount and Reason Codes No ability to see selected invoices in a batch. No easy comparison of remittance details. Debit/Credit memo creations are a separate action from invoice allocations Users apply tax codes and document prefix details as part of each cash allocation process. AR users must be familiar with general ledger requirements. AR transactions wait for GL approval.	User-friendly/designed allocation process used by SSA Global Invoices selected by inputting 1 Invoices de-selected by removing 1 Ability to toggle between selected invoices in payment batch and all invoices (F9) Ability to print selected invoices in order of allocation thereby creating a like-for-like report to compare with remittance advice details (F23) F15 function enables creation of credit/demo memo from within the cash allocation screen. All tax codes, tax files are updated automatically using tax parameter rules. Cashbook AR processing use proven CEA models and events which do not impact on AR users ability to process.
Journal Posting	Journal Posting
No possibility of AR clerk writing off bank charge fees typically taken in foreign transactions. Cash allocation process is done by Coy-bank-currency-customer type combination Foreign Currency cash allocation process is cumbersome with multiple screens Cash allocation process occurs in isolation updating AR and GL. Users are focused on closing invoices BPCS Tax files updated Uses BPCS exchange rates Differing payment types are forced be over-written by users	F14 General ledger write off function integrated within cash allocation screen Cash allocation process reflects cash allocation to physical bank accounts Foreign currency cash allocation is in one screen. Realised exchange rates easy applied. Cash allocation process directly feeds into cash position and bank reconciliation solution updating AR, GL and CBK. Users are focused on allocating invoices while posting cash to the bank account. BPCS Tax files updated. Uses BPCS exchange rates Payment types do not impact on cash allocation.

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