Overview

The Cash Application Manager Use Model and Data Flow:

• The AR department creates invoices in NetSuite.
• Your customers send checks, Wire, and/or ACH payments to your bank.
• The bank creates a file, typically either fixed width or character delimited in a standard format like BAI or even a CSV (comma-separated values).
• Celigo’s standard Cash App Manager solution attempts to match payments first to invoices and then to customers, depending on the data in the file.

Advantages:

A cash application manager solution speeds up cash collection by bypassing the requirement to have the company accept the payments first into their internal accounting system. The bank receives all the payments and the funds that have been received are immediately deposited into the company’s bank account.

The Celigo Cash Application Manager solution:

• Fully automates inbound integration and association of these transactions with NetSuite Customer, Invoice & Customer Payment records.
• Captures payments deposited at your bank and securely syncs them into your NetSuite account.
• Eliminates the manual processes of entering payments into NetSuite and depositing them into your bank account.

As a result of the matching process, each payment will have one of the following 4 status values:

• Applied: The Cash App Manager finds the NetSuite invoice which matches the payment, and the payment amount is equal to the invoice amount. (A customer can send a single payment for multiple invoices. In that case, “applied” means that all invoices for a given payment were found in NetSuite and the amounts for each invoice were matched.)
• Partially Applied: The Cash App Manager finds some of the NetSuite invoices which matches the payment. Because other invoices in the bank file are not found in NetSuite, the payment exceeds the total of the invoice amounts. This can also be due to an overpayment, e.g. if your customer pays against an invoice already closed.
• Unapplied: The Cash App Manager finds the NetSuite customer that corresponds to the payment, but it does not find any of the invoices for that payment.
• Unidentified: The Cash App Manager does not find the NetSuite customer for the payment.