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What is OCR?

The OCR Remittance Reconciliation Solution is designed to specifically meet the needs of customers who receive paper based AR remittance information. Through the use of Cashbook’s OCR technology, the processing and application of AR cash can be automated.

Large numbers of remittance advices are still received in hard copy in various shapes and sizes. Upon receipt of these remittances, AR departments manually record the payment information in the ERP and then manually process the cash application from the hard copy remittance.

Documents are scanned and stored and are accessible by multiple users in diverse locations simultaneously. Our inbuilt recognition technology identifies key data fields required to process the cash and apply it to open AR on the scanned document, i.e. Customer, Reference and Amount. An electronic file is then created, which is uploaded into Cashbook’s Cash Application Module.

Upon upload, various matching rules are applied to the file in order to electronically match against the open AR data within your ERP. Discount validation also takes place to ensure that discount terms are verified on invoices and discounts are incorporated into the allocation process. Users have the ability to review the automatic AR applications (and modify if necessary), create deductions, write off bank charges and create unallocated cash payments if required.


  • Any format of remittance advice can be used, e.g. customer specific remittance advice,remittance attached to cheque or general ledger listing, etc..
  • Fully automated data capture from both structured, semi-structured and unstructured paper remittances.
  • Fast, powerful verification of AR remittance information.
  • Significant time saving in capturing data and elimination of processor keying errors.
  • Incorporated intelligence so that when a customer remittance is scanned once, detection of data fields for future remittances is complete.
  • Automated matching rules can be modified or enhanced to include other customer specific reference fields.
  • Automatic creation of Deductions based upon specific rules and tolerances.
  • Automatic processing of GL write off’s, unallocated cash payments and all necessary posting to AR & GL completed.
  • Full report set available, including: AR Allocation Report, Discount Validation Report, Posted
    Journal Report and Cash Balance Reporting.
  • Scanned images are displayable for user to view the source data.


  • Eliminates manual keying of all remittance information, thus reducing manual errors.
  • Electronic storage of all remittance details.
  • Straight through automatic process from receipt of hard copy remittance to cash application.
  • Payments can be allocated across companies and customers should one cheque be received, and all related accounting entries processed automatically via Cashbook.
  • Elimination of manual effort allows companies to allocate staff time to other higher value

Whatever your ERP, we’ll fire up its Cash Management engine.
Enjoy an incredible level of automation, functionality and control.

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