Lockbox Auto Cash Management Application
Lockbox Auto Cash Management focuses upon Bank Reconciliation, Bank Lockbox,
Auto Cash Application from Remittance Files (EDI, Hard copy, Scanned,
XML), Bank Statement Upload and Electronic Payments solutions. Interfaced
with a wide variety of ERP systems and over 150 banks.
Cforia Lockbox Solution enables companies achieve straight through
processing from Lockbox files received from their bank(s) to the application of
AR receipts in the ERP System. Our Lockbox Solution helps companies thrive with:
Cforia Auto Cash Application reduces the time taken by AR personnel in the manual task of Cash Application. The solution
enables all types of files whether EDI, XML, Excel or hard copy remittance information to be processed within our software and
automatically applied to open AR. The solution also deals with discount handling, deductions, rebates and other AR
exceptions that can be present on an AR remittance file. Automatic Cash Application helps companies thrive with:
MT940 Cash Application Module is a powerful matching engine that allows users to automate the process of European
bank statements. This matching process is based upon rules defined by your Finance department. Cforia's MT940 Cash
Application helps companies thrive with:
Cforia Bank Reconciliation Module is a powerful matching engine that allows users to automate the process of reconciling
transactions. This matching process is based upon rules defined by your Finance department. MC2 Bank Reconciliation helps
companies thrive with:
Cforia Bank Statement Upload: Consider the following as a cost effective improvement on your current process for Bank
Statement processing. If you could take your Bank Statement file from your banking provider and have all AR transactions
applied, AP Payments confirmed, and GL transactions processed automatically, would that save you time? Cforia's Bank
Statement Upload helps companies thrive with:
to create a common ERP/IT architecture across companies for vendor payments. MC2 Electronic Payments helps companies
thrive with:
Lockbox Auto Cash Management focuses upon Bank Reconciliation, Bank Lockbox,
Auto Cash Application from Remittance Files (EDI, Hard copy, Scanned,
XML), Bank Statement Upload and Electronic Payments solutions. Interfaced
with a wide variety of ERP systems and over 150 banks.
Cforia Lockbox Solution enables companies achieve straight through
processing from Lockbox files received from their bank(s) to the application of
AR receipts in the ERP System. Our Lockbox Solution helps companies thrive with:
- Any Bank file or format in the U.S. and Canada catered for.
- Standard matching algorithms available include combinations of the following
- reference data: invoice amount, invoice number, purchase order reference,
sales order reference, discount amount, due date.
- Algorithms can be modified or enhanced to include other specific reference fields.
- Deduction handling.
- G/L write-offs.
- Unallocated Cash.
- All necessary updates to your ERP’s A/R and G/L are competed.
- Enables companies deploy across multiple sites, environments or ERP systems
Cforia Auto Cash Application reduces the time taken by AR personnel in the manual task of Cash Application. The solution
enables all types of files whether EDI, XML, Excel or hard copy remittance information to be processed within our software and
automatically applied to open AR. The solution also deals with discount handling, deductions, rebates and other AR
exceptions that can be present on an AR remittance file. Automatic Cash Application helps companies thrive with:
- All remittance formats e.g. EDI, XML, Excel, Scanned, Hard Copy supported.
- Matching rules can be modified or enhanced to include other specific reference fields or combinations of specific fields.
- Can incorporate specific business rules which exist between trading partners in order to determine correct updates to
system (i.e. removing duplicate entries, netting transactions etc.) - Caters for Discount, Deductions, Rebates and other Credit/Debit notes
- Makes all necessary updates to your ERP’s A/R and G/L
- Enables creation of manual Bank Deposit slips for retail organisations.
- Integrated with Bank Reconciliation Module enabling efficient reconciliation of AR transactions.
MT940 Cash Application Module is a powerful matching engine that allows users to automate the process of European
bank statements. This matching process is based upon rules defined by your Finance department. Cforia's MT940 Cash
Application helps companies thrive with:
- Auto-reconciliation of MT940 Bank Statements to AR invoice data.
- Auto-posting of bank statement data to general ledger codes for bank charges, interest, sweep entries etc.
- Enables posting to AP invoices for a complete cash application tool straight from the bank statement.
- One Cash processing solution for all your inbound cash.
- Keeps track of bank statement numbers and opening and closing balances.
- Cash Application can be created for multiple banks, companies and environments.
- Tolerances and write-offs available.
- Auto-matching rules based upon numerous different reference information i.e. Invoice No., Sales Order No, Branch No
etc. - Multi-currency, multi-site solution that can be deployed on multiple environments and ERP’s.
- Especially suited for shared service centers.
Cforia Bank Reconciliation Module is a powerful matching engine that allows users to automate the process of reconciling
transactions. This matching process is based upon rules defined by your Finance department. MC2 Bank Reconciliation helps
companies thrive with:
- Auto-reconciliation of Bank Statement to General Ledger.
- Statement-only functionality which allows automatic generation of journals for bank charges, interest, sweep entries etc.
- Un-presented checks and un-presented lodgements enable unreconciled items to be rolled-over at period end into
future reconciliations. - Search and sort functionality.
- Matched transactions can be reviewed and reversed should incorrect references be chosen.
- Reconciliations can be created for multiple banks, companies and environments.
- Tolerances and write-offs available.
- Auto-matching rules based upon numerous different reference information i.e. Invoice No., Sales Order No, Branch No
etc. - Bank Reconciliation can be performed on a daily, weekly, monthly or other periodic term.
- Multi-currency, multi-site solution that can be deployed on multiple environments and ERP’s.
Cforia Bank Statement Upload: Consider the following as a cost effective improvement on your current process for Bank
Statement processing. If you could take your Bank Statement file from your banking provider and have all AR transactions
applied, AP Payments confirmed, and GL transactions processed automatically, would that save you time? Cforia's Bank
Statement Upload helps companies thrive with:
- Standard bank statement upload process no matter what bank/currency or ERP you are using.
- Approval process, ensures excellent workflow.
- Can be adapted for any Bank globally
- Supports algorithms across customer numbers, invoices, sales orders, customer bank accounts, pick list, packing
numbers, customer purchase orders, shipment numbers, sales orders. - Caters for partial payments, credit/debit notes, unallocated payments, multiple discount terms, foreign exchange gain or
losses, write-offs, bank charges, suspense account postings. - Integrated with Excel and Customer Lockbox Modules and Bank Reconciliation which enables usage with high and low
volume customers.
to create a common ERP/IT architecture across companies for vendor payments. MC2 Electronic Payments helps companies
thrive with:
- IBAN (International Bank Account Number) & non-IBAN payment formats can be generated.
- Complete audit trail Payment Reports.
- Auditable security surrounding vendor/employee bank account details.
- Automatic generation of Email remittances to vendor.
- Ability to amend automatically generated vendor payment selection based on funds etc.
- Multiple sites, environments or ERP systems can be catered for.
- Includes check printing in the process (if required).
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