Bank Statement Upload Automation

By: Cashbook  05/12/2011
Keywords: Accounts Receivable, erp systems, Bank Reconciliation


Bank Statement Automation

This Cashbook module allows companies to upload a bank statement and algorithms are applied
so that cash receipts and manual payments are automatically allocated. The module can
automate anything from 30-80% of your daily cash transactions.
The process begins with uploading a bank statement into Cashbook. If the bank statement
includes good quality reference data our solution can automatically suggest invoice allocations
for accounts receivable transactions. We also suggest manual journal postings as well based
upon the reference data in the bank statement. The word “suggest” is used as no automatic
postings are completed, everything must be approved by the appropriate credit controller.
The variation in automation from 30-80% depends upon the bank that your business is using and
the way your customers pay you. We can easily assess the level of automation you are likely to
get at no charge if you supply an example of one of your daily bank statements.
This module can be implemented in the Benelux region or anywhere across Europe.
  • JDBC access to multiple ERP systems either directly integrating with system data or via
    staging databases
  • Approval process, ensures excellent workflow
  • Can be adapted for any Bank globally
  • Standard bank statement upload process no matter what bank/currency or ERP you are
  • Supports algorithms across customer numbers, invoices, sales orders, customer bank
    accounts, pick list, packing numbers, customer purchase orders, shipment numbers, sales
  • Caters for partial payments, credit/debit notes, unallocated payments, multiple discount
    terms, foreign exchange gain or losses, write-offs, bank charges, suspense account
  • Integrated with Excel and Customer Lockbox Modules and Bank Reconciliation which
    enables usage with high and low volume customers
  • Multiple sites, environments or ERP systems can be catered for

  • Creates the ability to run Shared Service Centers without the need for a common ERP
    platform or version updates
  • Global companies can employ a global solution for all sites across multiple different banks
  • Automated processing of bank statement data reduces manual entry and consequently
    increases financial control
  • Elimination of manual effort allows companies to allocate more staff time to other higher-
    value activities

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Cash Receipts

At the helm of cash
automation for over 18

We are very pleased with the product
(Cashbook Electronic Payments) as well
as the ongoing support and
responsiveness of SAI. My goal was to
systematize and streamline our A/P
payment process - that was definitely
Melanie D. McElroy, Director of Finance, RC
Bigelow Tea, USA - Customer since 2004

© 1992 - 2011 Cashbook Limited. All rights reserved.                                                                                                                                                                                   

Keywords: Accounts Receivable, Bank Reconciliation, Bank Statement, cashbook, Customers Pay, erp systems, Invoice Allocations, Reference Data,

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