Excel Uploads

Cashbook Excel Upload allows you to consolidate and automate cash application on remittance data from one or multiple customers.

This module typically applies to customers providing information on invoices settled with one large or periodic payment. As the data is not available on the bank statement, A/R departments are often forced to treat these customers manually. As more companies move to paying their suppliers by electronic funds transfer, these “exceptions” are continually increasing.

Excel Upload can be used on its own or in combination with a bank file upload to achieve the highest automated matching rate possible.

Features

  • Uses our standard Cashbook Excel Upload Template or can be based on a customer-defined template
  • Template can be modified to handle upload of data from one specific customer or from multiple customers in the same file
  • Standard matching algorithms available include combinations of the following reference data: invoice amount, invoice number, purchase order reference, sales order reference, discount amount, due date.
  • Allows creation of specific actions to handle items in file (e.g. bank charges, creation of credit/debit notes)
  • Caters for Discount
  • Makes all necessary updates to your ERP’s A/R and G/L
  • Each Excel upload has its own Cashbook journal, so multiple files can be processed simultaneously.

Benefits

  • Reduces A/R processing time of customer remittance data by an average of 70% to 95%
  • Allows the automation of customer data that would otherwise not be automated through a bank file
  • Receipts applied to customer accounts faster as A/R staff focus on exception handling instead of data entry
  • Automated processing of data reduces likelihood of manual entry errors
  • Elimination of manual effort allows companies to allocate more staff time to other higher-value activities
  • Clean, efficient processing bank Lockbox data reduces overall reporting time needed at month-, quarter- and year-end periods.
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