Deductions Management
Manage deductions through their life cycle with our deductions software. Deductions management made easy.
Revenue and profits are lost in the deductions processes. Deductions are claimed by large and small companies with customer specific codes and reasons. Adapt deduction management to any bank file or remittance format and route deductions for speedy review and approvals. Create reason and deduction codes directly from remittance data, regardless of ERP. Automate the deductions process and start recovering more revenue.
- Data mapping from your ERP comes in. As part of our Collections product, we auto-identify deductions created through Cashbook in cash application or by specific characteristics of disputed invoices.
- Cashbook “ages” your deductions and facilitates the coding to specific deduction and reason codes. We facilitate the aggregation of deductions into Parent, Group and HQ levels. We allow users to seek approval for credits or write-offs within Cashbook and categorize deductions that enable analysis of the type of deduction and which department is responsible for resolving the issue. Auto-coding, auto-write-offs and auto-batching of small deductions saves our clients hundreds of hours.
- Users outside Cashbook respond & reply supporting Cashbook users in their operations.
- Banking and remittance information detailing the origination of the deduction is always to hand.
- Our users enjoy an incredibly flexible letter engine for communicating with customers regarding deductions ensuring any inaccurate deductions can be communicated.
- We create 0 value cash batches for netting of credits and debits.
ABOUT
The Cashbook Deductions Management module allows you to have one automated solution for deductions across your company. Deductions software allows you to adapt deduction management to any bank file or remittance format and route deductions within your organization for speedy review and approvals, with the ability to add notes and attachments. You can create reason and deduction codes directly from remittance data, regardless of your ERP. Full visibility on bank lockbox images, remittances, and bank statements. Streamline your deductions process with Cashbook.
- Cashbook’s deductions software can automate over 85% of your deductions.
- You will be able to reduce your deduction team resources by between 30-50%.
- Recover substantial revenue that is usually lost in the deductions process.
- Aging of all deductions, credit notes, and on-account payments.
- Deduction summarization feature for bundling of deductions.
- Auto-write-off tolerances based on pre-determined values and percentages.
- Access customer portals with backing information such as proof of delivery notices.
Features
Bank and ERP Integration
Powering an unprecedented level of deductions management automation
Our deductions software provides extra capability and functionality within our cash application software. It can be adapted to any bank file or customer remittance format for all ERP systems. Users can easily create deductions with reason and deduction codes directly from remittance data. Expect increased visibility on your bank lockbox images, remittances and bank statements. All of which leads to a modernized, automated deductions management process with deep integration of your bank and ERP system.
Advanced Intelligence
Specific deductions management functionality facilitating more automation than ever before
There are many different types of deductions, inefficient business systems and ‘unknown’ deduction codes can lead to lengthy manual investigation of individual cases. In Cashbook, you can create multiple deductions codes based on references. Assigning these deduction codes at the cash application stage means that they can be fed into the AR Ledger when posting cash. Eliminating the need to manually work with each deduction. Route deductions through your organization for instant review and approval. Leading to a more intelligent and efficient deductions management process.
Greater Financial Control
A clearer window into deductions
Cashbook’s ability to automatically assign deduction types significantly decreases “unknown” items. Deduction bundling speeds up the investigation and approval process and ensures you have a clearer picture of specific deduction types. Eliminating the usual large volume of small deduction claims which slows down the process. You can also set up auto-write off tolerances based on your organization’s procedures. Cashbook retains all created and processed deduction claims which are stored safely and securely within our deductions software for future reference. Take back control of your deductions process with Cashbook.-
