Cash Application

Achieve 99.9% Cash Application ​​to Open Invoices Each Day…Automatically

You need to close and reconcile cash transactions each day in order to update your accounts receivable, credit limits, and collections priorities. Our team uses Carixa software to match remittances from all sources to invoices, credits, and deductions. We route deductions, short pays and discounts to jump-start the resolution workflow. Only with Carixa’s powerful matching and exception handling process can you achieve 99.9% completion of a day’s remittances.

Get true automation for maximum efficiency

Other so-called “auto-cash” systems leave 25%-50% of the work to be completed manually, including exceptions, deductions, and short-pays. Carixa solves this problem with outstanding front-end matching followed by automated processing and workflows for all the exceptions. Carixa works seamlessly with your other systems, or as an integrated part of the complete Carixa A/R Cloud suite. Either way, you get the real-time payment processing results you need.

Cash Application Service Benefits

  • 99.9% automated processing
  • Eliminates most manual work
  • Scales with your business without adding staff
  • Your books are closed on time every day
  • Manages downstream exceptions through deduction workflow
  • Saves bank lockbox keying fees
  • Automatically matches and validates deductions (using the Carixa Deduction module)
  • Automatically matches and validates trade deals (using the Carixa Trade Promotion module)
  • Automatically enters chargebacks and debit memos directly into the workflow

Service Details

Our A/R specialists work seamlessly with your team and ERP to provide real-time payment posting.

Each day we use Carixa’s robotic process BOTs to automatically retrieve bank statements, deposits, lockbox receipts, ACH receipts, and outgoing payments.

+ Read More

  • Capture remittance details from digital sources including BAI2, EDI820, Electronic Funds Transfer (EFT), and Cognitive Document Automation from checks, images, emails, and all formats including PDF, CSV, JPE, PNG, Excel, and HTML. Also, web portals with RPA.
  • AI-Powered, with multi-variable algorithms to match remittances by invoices, amount, due date, purchase order number, credit memo, RMA, etc.
  • Machine Learning for self-correcting one-time exceptions.
  • Robotic Process Automation (RPA), to interchange data and documents with customer and carrier web portals.
  • Parent-child mapping, and customer transaction type mapping to internal transaction types and codes.
  • Evaluate and adjust for cash discounts and freight charges, and write-off thresholds.
  • Charge back unearned cash discounts, and improperly deducted freight charges, then transmit, and input directly into the workflow.
  • Deduction matching, resolution, and workflow (with the Carixa Deduction module).
  • Trade deal matching and validation against sales data and accruals (with the Carixa Trade Promotion module).

- Read Less

Related Content: Carixa Automated Cash Application Video

Contact us to learn more about how this service can function independently or as part of an integrated accounts receivable solution.

Search
Generic filters
Smyyth Carixa