Streamline A/R Processing: Cash Application Manager for NetSuite

by Rico Andrade
February 8, 2008

This month’s product highlight features Celigo’s Cash Application Manager for NetSuite. This out-of-the-box product automatically matches outstanding invoices in NetSuite with customer payments made via checks, ACH, and wire transfers. Companies save countless hours of manual invoice matching while reducing days sales outstanding (DSO) and improving cash flow management.

How the Product Works

After a bank payment file is either automatically transferred from a bank’s FTP server or manually uploaded into Cash Application Manager, each payment is converted into a NetSuite digital payment. The payments are then automatically matched against open invoices in NetSuite based on business rules defined by the user.

Product in Action

Spectrio, a leading provider of end to end technology-enabled audio and video marketing services, is automatically matching over 90% of lockbox payments against open NetSuite invoices. As a result, A/R processing time has been reduced from 30+ hours to just 1 hour a week and Finance now has insights into accurate daily cash position of the company. Read the case study to learn more.

Latest Product Enhancements

Celigo continuously releases updates to enhance this popular product. Highlights of recent updates include:

  • Ability to apply single payment against multiple invoices
  • Support for bank files that include multiple payment methods
  • Whenever posting period is locked in NetSuite, payment creation can either be disabled or enabled
  • Multi-subsidiary companies using NetSuite One World can assign unique GL accounts per subsidiary
  • Extended matching rules for wire transfers
  • Availability of human-readable Memo field from bank files
  • And more

View the latest Product Release Notes for details on product releases.

For more details on how you can automate your cash application process, visit the Cash Application Manager product page.

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