Excel Uploads

Automate the uploading and cash application of customer remittance
data from Excel files directly into the any ERP system.

This automation workflow typically applies to customers providing
information on invoices settled with one large or periodic payment. As the data
is not available on the bank statement, A/R departments are often forced to
handle these customers manually. As more companies move to paying  their
suppliers by EFT these “exceptions” are becoming the norm.

Excel Uploads can be used on its own or in combination with a bank file
upload to achieve the highest automated matching rate possible.

Features
  • Uses our standard Excel Upload Template or can be mapped to a
    customer-defined template.
  • Templates can be modified to handle data uploads from one specific
    customer or from multiple customers in the same file.
  • Standard matching algorithms include combinations of the following
    reference data: invoice amount, invoice number, purchase order
    reference, sales order reference, discount amount and due date.
  • Allows creation of specific actions to handle bank charges, and
    creation of credit/debit notes.
  • Auto processes Discount and Credit/Debit notes.
  • Auto posts to any ERP’s A/R and G/L.
  • Each Excel 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%.
  • Automates customer data that would otherwise not be automated through a bank file.
  • Faster application of receipts to customer account.
  • Avoid manual data keying of high-volume receipts through automation.
  • 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.
  • Speed up end of reporting period closings.

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

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