Exide Technologies using Cashbook Automated Lockbox Solution with JDE

Exide Technologies Ltd went live in Feb-09 with Cashbook V4.2 AR Bank Lockbox solution integrated with their existing ERP, JDE. Using a scheduled overnight job, Cashbook takes the Bank lockbox file and through the file upload process automatically runs the various matching rules which have been customized for Exide such that users only have to work with the exceptions at the start of each day. Using a combination of algorithms i.e. matching against Invoice No. and/or Sales Order No., has proved highly successful for Exide who are achieving a high hit rate against open AR data. A large Bank Lockbox is subdivided into Cashbook Lockbox records corresponding to actual Bank batches facilitating Exide’s work assignments and enabling the one lockbox file to be worked on by a number of users. A control report is produced for the Upload to facilitate work assignments with metrics before and after Users start working in Cashbook.

Exide are using standard Cashbook functionality for On Account payments, Chargebacks and Discount functionality in order to process all AR receipts received through the bank lockbox file. Cashbook functionality updates the F0311 file (Accounts Receivable file) and standard dream writer functionality coupled with a modified batch A/R update is used to post batches to GL. This allowed Exide continue using JDE existing internal GL posting process. Exide also needed specific user access to ensure segregation of duties which is controlled though the Cashbook menu options.

Further enhancements specific to Exide requirements are currently being made to further refine this very successful go live as follows:~

• Discount Handling - Users will have the ability to over ride existing discount terms on invoices.
• Over/Under Payment of Invoices - Users will have the ability to place over/under payment of an invoice against the referenced invoice so as to maintain full audit trail of transactions. Within existing JDE functionality users only have the ability to pay the current amount open on the invoice and place the balance on-account.

“With the assistance of Cashbook we have been able to reduce the amount of time it takes to apply cash by 50%. The addition of Cashbook has been very beneficial to the continued success of our department.”

Karen Snyder
Cash Application Supervisor
Exide Technologies