Cashbook. A single solution for the automation of cash application, bank reconciliation and payments
The Cashbook cash management solution created a bank journal for reconciliation purposes and a cash journal for applying cash against open accounts receivable and accounts payable invoices. By importing all of the customer information, Portmeirion were able to immediately begin cash application and in some cases have the cash automatically coded to specific general ledger codes for handling bank charges and sweeps.
For payments, the key for Portmeirion was more flexibility. For their foreign payments, the Cashbook cash management solution was able to provide them with a Euro compliant payment file and for non-Euro payments a slightly different payment format was implemented.
Full Bank & ERP Integration
Automated processing, regardless of country, ERP or bank
- Standard payment process no matter what bank, currency or ERP used.
- Full and seamless integration with their existing ERP.
- Greater banking integration to speed up processing.
More Advanced Intelligence
Powering an unprecedented level of automation; massively reducing manual entry
- Replaced LX ACP600, ACP620, ACP650 with Cashbook Global Payments.
- Easy to de-select invoices, vendors and companies prior to payments being completed.
- Central payment process replaced multiple heterogonous methods in different countries for payroll and vendor payments.
- Automatic email remittance solution has reduced time and costs of payment processes.
- >75% bank automation and reconciliation match rates.
Greater Financial Control
Clear audit trails and SEPA compliant
- Complete audit trail and SEPA compliant including XML/XSL reports.
- Bank statements automatically uploaded.
- Matching algorithms in place to automatically close invoices.