Banking and Cash Management
To process banking transactions, you set up your own bank accounts—as well as customer and supplier accounts—as GL accounts of type Bank. You can then add details to the account to manage the banking transactions. A business relation contains the bank address, contact, and tax details.
Banking features let you process banking transactions and allocations to open items or GL accounts. This process also supports discounts, prepayments, and multiple currencies. Realized currency differences are automatically analyzed, and each bank account can be linked to a separate daybook.
The import of bank statements is automated. Automation also includes customer invoice collection, supplier payment processing, and allocation of miscellaneous banking transactions. The module supports a large variety of global banking standards.
Banking features let you define payment formats for delivery of electronic files to your bank.
Banking supports full coverage on the following transaction types:
• Accounts receivable bank transactions
• Accounts payable bank transactions
• Miscellaneous bank transactions
Cash management reports present information on open items, bank and cash accounts, loans and deposits, and accruals.