Page 34 - Millennium U4F Brochure 2021

AutoCash
Automating Bank Reconciliations in Unit4 Financials
The world of reconciliations has never been glamorous, and it has often been underfunded and overly reliant on manual processes.
Put simply, relying on a spreadsheet for sensitive control functions
such as bank reconciliations increases operational risk, reduces accountability and transparency, and has no place in the world of today.
This is where AutoCash can help by removing the manual steps in your current process.
With a few simple steps AutoCash can:
• Automate the posting of electronic cash receipts by debiting the bank account in the cash book and crediting the right customer account in the sales Ledger.
• Automatically match the sales invoice to the cash receipt, changing the pay status in Unit4 Financials from “available” to “paid”.
• Automatically reconcile the transactions in the cash book within Unit4 Financials to the bank statement, changing
the status from “available” to “reconciled” and providing a full audit trail.
All three processes can be achieved within the AutoCash application as it will automatically:
• Transform, modify and load the electronic bank statement into the Unit4 Financials statement tables.
• Post cash documents.
• AutoMatch transactions
in customer accounts and AutoReconcile transactions in the bank accounts.
Accessing the application is simple as AutoCash is an application that resides on the Unit4 Financials server, which is accessed via a web browser and uses web services to interface to the Unit4 Financials application.
Would you like to automate your bank reconciliation process, improve operational risk and benefit from real process efficiency gains? Then there is no time like the present.