Testimonial
Cash Payments
Global electronic payments
technology is part of
our course
ACH
This Cashbook module allows you to transmit ACH files to multiple Vendors and Employees
electronically directly from your ERP system including transmitting all related invoice details.
Cashbook’s ACH module is Electronic Payments for USA customers. ACH’s can be created for
domestic payments, foreign payments (Wires) or indeed payments in multiple business units
spread across different countries.
Within the ERP system vendors are set up with a specific payment method e.g E= electronic C =
Cheque. Cashbook then takes this vendor information directly from your ERP and uses it to
process an ACH file. Within Cashbook security rules surround the vendor bank account details to
prevent unauthorised access and amendments. Emails are generated should the vendor bank
accounts details be deleted or created (no edits are allowable).
Cashbook selects payments from your ERP’s AP invoice file. Selections can be done for all
payments as would be used in a Shared Service Centre environment or sub-selections can be
made based on: business units, currency, vendor number, invoice date, even down to individual
invoices. Cashbook then creates an ACH payment file for transmission to the bank. If required,
Cashbook can populate the CTX records (addenda records showing invoice number) and if the
remittance details are large, include a 820 remittance file with the ACH Payment file. Cashbook
formats the payment file generated from your ERP into an ACH format and transmits to your
financial institution. ACH formats believe it or not will often vary from bank to bank across North
America. While there are commonalities in the data that generates ACH payment files often the
structure and file specifications will vary significantly.
On formatting the ACH payment file spooled remittances can be generated as part of the process
which can be faxed or email to vendors and held as audit back up for the payment run.
Cashbook also offers an Email Remittance solution which has additional benefits when
implemented alongside Electronic Payments.
The ACH payment file is then transmitted to the bank and vendors receiving the payment are
aware of the invoices included in the payment. If an 820 remittance file is sent with the original
ACH the vendor can then use this file in their own ERP to close the corresponding AR invoices.
Features:
- Standard payment process no matter what bank or ERP you are using
- Invoice payment information can be inclusively sent via the ACH file (common issue with
ERP systems)
- IBAN (International Bank Account Number) & non-IBAN payment formats can be generated
for non-ACH wire payments
- Complete audit trail
- Auditable security surrounding vendor/employee bank account details
- Integrated with Cashbook Bank Reconciliation Module & Automatic Email Remittance
Module
- Spooled remittances – Vender Information or internal Audit Purposes
- Multiple sites, environments or ERP systems can be catered for
Benefits:
- Vendors receive payments together with remittance details on Bank Lockbox, Bank
Statement or 820 file
- Payments to Vendors flow through the Clearing houses more efficiently as they are
automated, thus ensuring that vendors are paid on time
- Cost savings from electronic payments have been shown to be valued at USD $1.70 per
transaction for ACH v’s check printing (NACHA 2003)
- Automated processing of data reduces manual entry and consequently reduces the
possibility of fraud and increases financial control
- Elimination of manual effort allows companies to allocate more staff time to other higher-
value activities
- Your vendors/employees expect electronic payments in the 21st century
We have been working with SAI New
Technologies Benelux Cashbook product
since 1998. We believe it is a very stable
product which does not require a lot of
support.
Carlos Vandersteen, Finance Manager,
Sumitomo Bakelite Europe, Belgium -
Customer since 1998
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