The Challenge: On-time and accurate cash application is important, and needs to be kept current and reconciled daily for accounting, credit, and collections. Why is this simple goal so elusive?
Whether you have an ERP or Legacy system, cash application is still partly manual, labor intensive, and often not completed on schedule. Even electronic cash application often leaves 25%-50% of the work to be completed manually, which often means the day’s cash can not be closed timely, or unreconciled entries are posted to the books for later resolution.
The Solution: Carixa “Genius” Cash Application solves this, and can work seamlessly with your present financial system, or tightly integrated with the Carixa modules for Collections, Deduction and Credit Management. Either way, you get real time results in payment posting. The Carixa cash processing engine is configured to quickly clean and match remittances to invoices, credits, and deductions, and when a new deduction is created it “jump starts” the deduction workflow. With Carixa’s unique matching and transaction creation algorithms, you can achieve 100% Matching!
- Automatic 100% match, hands-free electronic application
- Optional scanning/OCR automation
- Automatic deduction matching
- Automatic chargeback and debit memo generation direct into workflow
|Interprets, translates and processes BAI, EDI, PDF, emails and spreadsheet data.||Fast and accurate cash posting|
|Auto creation and coding of deductions||Tracks Earned and Unearned Discounts|
|Tests for earned and unearned discount rules||Real time update of collection follow-up queue|
|Detailed on-line payment history||Reduced held orders|
|Single interface to multiple ERP systems||Reduced complexity, higher efficiency|