Cashbook’s Bank Deposit Slip Solution is designed to facilitate automated Bank Reconciliation
for customers who receive large volumes of cheque payments. These payments are
subsequently lodged as a batch and are then shown on the customers’ bank statement as one
amount.

Cheques are received from customers and, using the Bank Deposit Slip functionality, all cheque
details i.e. Customer No., Cheque No., Customer Name and Amount are input into Cashbook.
This slip can then be printed and used as the physical bank deposit slip accompanying the
cheque lodgement (optional). Often this is referred to as the BGC (Bank Giro Credit number). .
Once allocation of the Deposit Slip is completed a Cashbook Journal is created which is batched
up so that the total amount equals the bank amount posted through the BGC.

Within the Bank Reconciliation Module, this one lodgement is shown as one journal on the GL
side of the Bank Reconciliation within Cashbook enabling ease of reconciliation with the Bank
Statement. Should amendments be required to the deposits slip or the AR allocation, this can be
done via Cashbook to ensure ease of reconciliation of manual lodgements.

Features:

Cashbook Bank Deposit Slip used as the accompanying document for the physical
lodgement
Cheques can be applied across Company and across Customers
Automatic Bank Reconciliation of all lodgements as bank reference number is used when
posting Cashbook journal
Reverse functionality available to cater for bounced cheques
One to One relationship exists between Bank Statement and GL posting enabling
automation of Bank Reconciliation process
Centralized Bank Reconciliation for retail outlet is enabled via the capturing of retail store
information
All Standard AR Cash Application functionality is available within the Bank Deposit Slip i.e
Bank charges, w/o, discount handing and unallocated cash
Cash Forecasting is improved as specific transaction types are used for BGC deposits
providing historical trends

Benefits:

Duplicate recording of cheques, once on your banks lodgement slip and once in the ERP
is eliminated. One entry in Cashbook is used for both processes
Standardise process for recording and allocating all Bank deposits
Cashbook Bank Deposit Slip used to accompany the physical lodgement. No need to
manually rewrite
All cheques are logged, details recorded and allocations processed prior to releasing
cheques to bank
Prompt allocation of cash against open AR
Cash application queries are resolved prior to cheque lodgement
Payment is logged and allocations made in Cashbook prior to lodgement in bank, ensuring
full audit trail of all cheque received to lodgement in bank. The Cashbook journal together
with the AR allocations does not have to be posted until cheques are cleared in bank
Massive time and monetary savings in Bank Reconciliation Process

Solve BGC (Bank Giro Credit) Issues

We are using Cashbook to upload bank
statements from 3 different banks,
Lloyds, Bank of Tokyo Mitsubishi and
Mizuho bank. This information goes
directly into SAI’s integrated bank
reconciliation module. This process has
added greatly to our efficiency and
overall financial control

Doug Black, Finance Manager, Sanden-
Europe, UK - Customer since 2000