A lockbox collection system allows companies to quickly process payments from customers. Banks periodically send files which needs to be imported into accounting system to update invoices and payments. Manually reconciling the bank file with transactions in accounting system can be tedious and time consuming process.
For Sage Intacct; using Sage Intacct Platform Service we developed a custom application which automates the lockbox files processing and automatically applies payments against the invoices. It minimizes the errors which normally occurs during manual processing and saves time.
Features of Sage Intacct custom applications:
Automated processing of receivables lockbox files into Sage Intacct
Import lockbox files received from Bank directly into Sage Intacct (custom objects). Sage Intacct users benefits with the flexibility to import files in a different format (dat/txt/csv) and into desired bank accounts.
Lockbox file will be matched with customer invoices in Sage Intacct. Here Matching would be automatically performed using customer number, invoice number, invoice amount thus minimizing the efforts to manually reconcile the transactions.
Data validation and accuracy
Validates if there are any errors in lockbox files. Automatically identifies invalid records arising due to non-existent of customer or transactions already applied with payments. Accurately identifies the customer transactions whether fully matched, partly matched, erroneous transactions.
Apply receipts against open invoices
After matching and reconciliation; payments will be applied and posted in Sage Intacct.
The above mentioned application is developed using Sage Intacct Platform Services.
Please feel free to contact us on email@example.com in case you have any such requirement on Sage Intacct custom applications to automate your business processes.
Greytrix – a globally recognized and one of the oldest Sage Gold Development Partner is a one-stop solution provider for Sage ERP and Sage CRM organizational needs. Being acknowledged and rewarded for multi-man years of experience and expertise, we bring complete end-to-end assistance for your technical consultations, product customizations, data migration, system integrations, third party add-on development and implementation competence.
Greytrix has a wide product range for Sage Intacct – a Sage Business Cloud Solution. This includes migrations from QuickBooks | Sage 50 | Sage 100 | Sage 300 to Sage Intacct. Our unique GUMU™ integrations include Sage Intacct for Sage CRM | Salesforce. We also offer best-in-class Sage Intacct Development Services, Consulting services, integrated apps like POS | WMS | Payroll | Shipping System | Business Intelligence | eCommerce for Sage Intacct to Sage business partners, resellers, and Sage PSG worldwide. Greytrix constantly develops apps, products and addons to enhance user experience. Sage Intacct addons include Sales Commission, AR Lockbox File Processing and Sage CRM integration. Greytrix GUMU™ integration for Sage CRM – Sage Intacct is listed on Sage Intacct Marketplace.
For more information on Sage Business Cloud Services, please contact us at firstname.lastname@example.org. We will like to hear from you.