cash application

This article will explain in basic terms what Robotic Process Automation (RPA) technology is, and its role in the accounting industry. We will see how RPA has advanced to streamline current accounting processes, and what to expect from RPA technology in the future. What is Robotic Process Automation? When people ...

There is a significant financial shift happening in Switzerland right now, it is being referred to as ‘The Swiss change’. By 2018, all banks, software vendors, and individuals will have to adapt their payment systems. Credit transfers, direct debits and electronic payments will all need to use the same standards, ...

Effective cash management is integral to the success of global companies. In fact, it is necessary to any company of any size. However as a company grows, the volume of payments and invoices tend to grow too. Therefore, efforts need to be strengthened to manage cash flow more efficiently and ...

Cash application is a highly manual, repetitive, time-consuming process. One that is rife with inefficiencies, audit and compliance issues and increasing bank costs. Many organisations accept the implications of manual cash application as a “necessary evil”. However, organisations who avoid utilising cash application automation software are hurting their bottom line. ...

MT940 is the international standard of electronic account statements developed by S.W.I.F.T. The MT940 file format is typically used for end of day bank statement reporting in organisations right across Europe. Each file contains an opening and closing balance and details of any and all transactions which take place in ...

Lockbox banking is a great cash flow management offering for businesses that receive a large quantity of payments from numerous customers. Lockbox services can effectively accelerate the collection and deposit of check payments sent via the postal service with accompanying remittances.

Cash allocation has always been an agonizing, labour-intensive task. Your accounts receivables or dedicated cash allocation team can spending endless hours on manually allocating cash. Manually processing payments received via cheques, credit cards, debit cards, BACS and other payment methods and matching them to the corresponding invoices is not only ...