Benelux Processing Cash Application

Testimonial

Slashed our AP processing costs by 75%.
Charles Greene, Manager of Information
Systems, Sumitomo Electric Wiring

Systems, USA - Customer since 2001

Benelux Processing

Benelux Processing is a module used to describe the business process whereby you use the
bank statement as the key source document for allocating and applying cash to your general
ledger.

The process is most commonly used in Belgium, Netherlands and Luxembourg although it can
also been used in the UK, Switzerland and Germany.

The logic is very simple. Everything on my bank statement must be coded to a general ledger
account without exception.

Features:

All Benelux region legal requirements met
Bank statement unique numbering maintained
Validation of opening and closing balances with individual transactions to ensure
transactions cannot be ignored
Processing directly from Bank Statement with direct update to ERP system
Meets all local regulatory requirements
Enables posting direct from bank statement to AP subledger, AR subledger and manual
journal postings

Benefits:

Full traceability from General Ledger to original Cashbook Journal and Bank Statement
Number and line
Simple, fast and efficient method of processing daily cash
Can be implemented for multiple banks and multiple bank accounts
Bank balances are maintained at all times giving instantaneous view of cash balances

Cash Dashboard

Cash Forecasting

Benelux Processing

Customer Vendor Netting

Finance

Finance

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