EDI Uploads

Automate the uploading and cash application of customer remittance
data from an EDI file directly into the any ERP system.

This solution evolved from a customer request to manage an EDI file
containing hundreds of customer invoices that were being settled with one
payment. This module replaces the manual task of entering paid invoices
one-by-one and generally achieves high matching rates as the customer
data is usually high quality and based on pre-defined customer-supplier
reference information.

The automation of EDI remittance data is adapted to the needs of the
automotive and pharmaceutical sectors where high invoice volumes often
exist between manufacturers, OEMs and distributors.

Features
  • Handles most EDI remittance formats.
  • 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.
  • Matching rules can be modified or enhanced to include other specific
    reference fields or, as is often the case with EDI files, combinations of
    specific fields.
  • Can incorporate specific business rules which exist between trading
    partners in order to determine correct updates to system including
    removing duplicate entries and netting transactions.
  • Auto processes Discount and Credit/Debit notes.
  • Auto posts to any ERP’s A/R and G/L.
  • Each EDI upload has its own journal, so multiple files can be processed simultaneously.

Benefits
  • Reduces A/R processing time of EDI files by an average of 80% to 95%.
  • Provides accurate and real-time information for high-volume customers on which invoices have been paid and when.
  • Avoid manual data keying of high-volume receipts through auto application to customer accounts.
  • Allow A/R staff to focus on exception handling instead of data entry.  
  • Reduces reporting time devoted to large customer accounts during closing periods.
  • Automated data processing reduces likelihood of manual entry errors.
  • Manual effort elimination allows companies to allocate more staff time to other higher-value activities.

Click on this link to view Lockbox Auto Cash Application Webinar replay.  Presented by a 20 year veteran.

Click to view cash application background for Greg Coulter.
Cforia
ZeroCapital