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Cash Application Manager Enhancements

By Rico Andrade
July 9, 2018

Cash application has never been faster or easier. We have made a number of enhancements on Celigo’s Cash Application Manager to improve match rates, reduce time spent on discrepancies, and more.

Version 3.0 Feature Highlights (coming soon)

  • Alias Matching
    A common discrepancy in cash application is when the customer name specified in a bank file does not match the name in NetSuite, especially for wire transfer and ACH payments. To improve match rates in these situations, alternative or alias names can be saved for a customer. For example, if a customer name in NetSuite is “ABC Ltd” but wire transfers use “ABC Co”, the latter can be saved as an alias so matches will be based on either “ABC Ltd” or “ABC Co”.
  • Interactive Dashboard
    The Cash Application Manager dashboard has been enhanced to reduce the number of clicks and screens you need to navigate to view and correct discrepancies. Specific details of transactions can be viewed (e.g., associated invoices, credit memos, payment details) and certain values edited (e.g., customer names, currency, amount) directly within the dashboard instead of navigating to other screens within NetSuite — making cash application faster than ever.
  • Foreign Currency Transactions
    Make sure bank payments are created in NetSuite with the correct currency to reduce discrepancies. If a bank file indicates a payment amount is in a currency that is different from the bank’s default currency, the payment will be created in NetSuite using the designated currency. For example, if a bank file contains a payment for Canadian dollars but the bank’s default currency for the file is US dollars, Cash Application Manager will create the NetSuite transaction using Canadian dollars as the currency.

Highlights of Recent Features

  • Advanced Search Logic
    Advanced search capability for customer names is now available in which a match can be identified even if there is not an exact match of the customer name, such as “ABC Ltd” vs “ABC Inc”.
  • NetSuite Multi-Subsidiary Support
    The new Multi-Subsidiary Customer feature introduced in NetSuite OneWorld 2018.1 release is now supported for companies with customer records across multiple subsidiaries.
  • Write-Off and Deposit Thresholds
    In addition to specifying an absolute amount, percentage amounts can now be defined as threshold amounts for creating write-off or customer deposit amounts.

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