Cashbook Electronic Payments – New Features in v5.1

Here at Cashbook we’re constantly working on improvements and feature enhancements to our module solutions. In the past six months great progress has been made on our Electronic Payments module with significant developments being made from Cashbook v4 to our latest release Cashbook v5.1

Highlighted below are some of the v5.1 Electronic Payments product features and areas in which customers will notice improvements:

• New Screens – In Cashbook v5.1 there’s been a dramatic overhaul in the display of on-screen information. Whilst existing users will still be familiar with all of the data available from our batch header and detail journals, the new java engine deployed by Cashbook has transformed the appearance and ease of navigation throughout the whole solution.
• Security –We now have security at an action level, a transaction level, a user level and at a group level. We are currently implementing Security groups (September) to make the authorizing of standard users a whole lot faster. The date and time stamps on all transactions are really a big step forward as well.
• Reports - Whilst all processes still generate the Audit Reports, we have also built a full Reporting Function which allows you to run reports on demand over sub-selections of all data. We're adding to them all the time and we always welcome your feedback and suggestions about new or improved reports.
• Views - Being able to sub-select your data using various views is essential in Cash Application and Bank Reconciliation and it’s also very useful for Electronic Payments. Within v5.1 there are a vast number of customizable data field views that can be saved and used when undertaking regular and repeat tasks within Cashbook.
• Journals/Electronic Payments - Within Cashbook v5.1 everything is in one place which makes it very easy for existing users to quickly and efficiently complete all functions relating to cash.
• Transmission Screen - We now enable users to create a specific Transmission, including transmission description and then attach journals to that specific transmission. This functionality provides fantastic separation of duty in the overall process and also links in more closely with the true process of transmitting a file to the bank.
• Re-Transmit - No more ringing up Cashbook support for data file SQL commands. Within Cashbook v5.1 there is now a heavily secured function which enables you to reset transmission file statuses.
• Selection Saves – Often companies have standard and regular payment runs that involve a particular grouping of vendors. Within Cashbook v5.1 you can save these selections, give them a grouping name and recall them at any time.
• Void Journals – Simple, clear and only enabled at certain stages in the process. This functionality had been regularly requested and has now been built into v5.1
• Void Lines – Previously we had a ‘delete lines’ function but the ability to ‘void lines’ is far superior. This functionality enables you to void a vendor from the payment file, which retains the record imported but doesn’t hard delete, thus keeping a full audit trail.
• Information – Within v5.1 there’s now far more information displayed on screen. Cashbook can now display any data contained within the invoice file. Such as: purchase order values, invoice references, other references, etc.
• Any ERP System - Cashbook solutions can be implemented on any number of ERP systems using the uniquely developed mappers within Cashbook v5.1 which let us define the specific files and fields you want to map to in Cashbook.
• Payment Instruments - We're porting over all our bank interfaces (all 165 of them) into Payment Instruments. These payment instruments can be varied with properties. This works really well with regard to creating variations on payment files which avoids having to make program changes to the standard international formats due to variations between the banks.
• Changing Payment Bank Accounts and Banks – With Cashbook there’s nothing stopping you (except if security is turned on) from changing the payment bank account you want to use for a particular payment. Potentially you could change the payment bank as well should that be a requirement.
• PDF Documents - Cashbook now has the ability to create PDF email remittances which can be sent out to vendors/employees (encrypted ones as well if required!)
• Payroll Data – Cashbook has been integrated to a payroll database which enables us to create Payroll Remittance Information (which is why the Security and PDF Encryption was so important).
• Multiple Contacts – Within Cashbook you can now add multiple contacts, very handy if you have a vendor who wants 3 or more people to be informed when payments are completed.
• Party Bank Accounts - Within Cashbook all bank accounts are held in a central file, that central file can be accessed from the vendor or customer set-ups. It makes for more account validation and checks.
• Vendor Listings - Cashbook now views the ERP vendor information file directly and let you add additional information to these core files, info such as contacts, bank accounts, email addresses, payment properties.
• Email Notifications – Within Cashbook we’ve enhanced the email functionality to notify certain personnel when certain actions are performed. E.g. Vendor Bank Account Maintenance. This provides much better security than simply creating a spooled report. This can also be used for approval of payments and any other processes across the entire Cashbook Product Suite.

As can be seen from the expansive list above, the v5.1 product is a big jump from the standard v4 solution. We’ve enhanced, augmented and added lots of new functions into the overall solution whilst still ensuring that the product is as easy to use as ever. Please let us know if you’ve any questions regarding this list or if you think we've missed something that you need. Here at Cashbook we’re constantly striving to improve and enhance our solutions offering – Be sure to check back regularly for the latest updates!