Automated bank reconciliation and posting for Unit4 Financials
Technological advances in banking has progressed in the last few years and now majority of cash receipts are electronic ( i.e BACS, Direct Debits, etc. ). Although this is a major advancement it causes headaches trying to automate the processes in both the Accounts Receivable and Treasury Departments.
This is where AutoCash can help.
AutoCash can automate the following processes in a few simple steps:
1. Post the Cash document debiting the bank account in the Cash Book and crediting the Customer in the Sales Ledger.
2. Cash matching the Sales Invoice to the Payment document changing the Pay Status in Unit4 Financials from “Available” to “Paid”.
3. Reconciling the cash book within Unit4 Financials to the electronic bank statement held within the Statement Tables changing the status from “Available” to “Reconciled” and providing a full audit trail.
All three processes can be achieved in 3 easy steps within the Auto Cash application:
1. Load the electronic bank statement into Unit4 Financials Statement Tables.
2. Post cash documents.
3. Match Customers & Reconcile Bank Accounts.
The application has sophisticated logic to derive the customer number and outstanding invoices for matching purposes.
Auto Cash is a web browser application that resides on the Unit4 Financials server and uses web services to interface to the Unit4 Financials application. This means that the application can be accessed anywhere in the world via VPN
Would you like to automate your bank reconciliation process?
For further information or to book an online demonstration, please complete the below form and an AutoCash consultant will get back to you shortly. Alternatively call us on +44 (0) 845 604 4262