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 recover more revenue from deductions than ever before.
The Cashbook Deductions Management Software modules allows you to have one automated solution for deductions across your company. It 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 & bank statements. Streamline your Deductions Management process with Cashbook.
Our Deductions Management module 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.
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.
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 software for future reference. Take back control of your deductions management process with Cashbook.