- Release notes v3.1.0, November 2018
- Release notes v3.0.0, August 2018
- Release notes v2.8.0, May 2018
- Release notes v2.4.0, February 2018
- Release notes v2.3.0, February 2018
- Release notes v2.2.0, January 2018
- Release notes v2.0.0, December 2017
- Release notes v1.13.0, November 2017
- Release notes v1.11.0, November 2017
- Release notes v1.9.0, October 2017
- Release notes v1.8.0, October 2017
- Release notes v1.6.0, August 2017
- Release notes v1.5.0, July 2017
- If the invoice number has 00000 or empty, there will be an error message "Invalid invoice number.
- The dashboard now has journal entry and customer deposit columns as well.
- The match criteria enhancement feature allows the user to select up to 3 fields from NetSuite for matching their invoice numbers.
- The dashboard in CAM now supports up to 10,000 transactions.
- The credit memo functionality is supported in all the editions now.
- Add foreign exchange currency.
- The customer needs to provide Foreign Exchange Currency rate, Foreign Exchange Amount & Foreign Exchange Currency details in Bank file. They can do this by hardcoding the currency in field mappings or they can ask the bank to add these details in the bank file.
- Next, we have to Parse the setting in File Parsing under Bank File to NetSuite flow.
- We have to map the Field mappings under Bank Transaction to NetSuite flow.
- If Subsidiary Currency and Invoice Currency is same then Foreign Exchange Currency Rate will consider that value as “1”.
- If the customer does not mention Foreign Exchange Currency rate details in Bank file then ‘NetSuite’ only provides the default Foreign Exchange Currency Rate.
- It won't consider the Foreign Exchange Currency rate if the customer does not mention Foreign Exchange Amount & Foreign Exchange Currency details in Bank file.
Identify open invoices automatically
You can now automatically identify open invoices using the invoice amount or the transaction amount.To identify open invoices using the invoice amount or the transaction amount:
- In the Cash Application Manager tile, click Settings
- Under Settings > Integration Flows click on the Settings icon of the desired flow.
- In Settings, go to Advanced Settings > Matching Settings and select Identify invoice with Amount
- Click Save
- If the invoice amount is absent in the file, the transaction amount (Celigo Cash App Transaction) is taken into consideration to search the matching invoice.
- If multiple invoices are open and if they have the same invoice amount and the transaction amount (Celigo Cash App Transaction), a payment is created and no invoice is associated with it.
Advanced Search Logic for Customer records
Advanced Search Logic for Customer records in NetSuite has been improved to be more accurate and fast. For more information on Advanced Search Logic, see here
Support for uninstalling a bank from the CAM connector
The CAM connector has been enhanced to allow you to uninstall the connector from your integrator.io account. If you uninstall all or the only bank associated with your connector, the connector tile is also removed from your integrator.io account and all associated information with the connector is deleted from your integrator.io account. After uninstalling, you can reinstall the connector from the marketplace as long as you have a valid subscription
For more information, see How to uninstall a bank from the connector?
Enhancements in Cash Application Manager Dashboard
The Cash Application Manager dashboard has been designed to be a one-stop-shop for the end-users for all of their cash application management activities. With the aim of making it more functional and meaningful in the end-user’s journey, we have brought in some significant changes. Some of the important new changes include the addition of new fields like currency and subsidiary information, the ability to edit a transaction record in the dashboard and option to drill down on a transaction to view invoices, credit memos and payments related details - all of it without having to leave the dashboard, thus reducing the number of clicks and tabs required to manage your cash application process.
Shown below is the new CAM dashboard:
Prior to this enhancement, the dashboard only allowed you to view the transaction information. For editing, you were required to open individual transaction records in NetSuite and make the required changes, which required you to navigate away from the dashboard.
To edit a transaction, click the Edit button. The dashboard page is displayed in the Edit mode.
In the Edit mode, the dashboard allows you to make changes in the following columns:
- Transaction Currency
- Transaction Amount
- NetSuite Customer
This feature will come handy especially when certain transactions are unidentified and as a user you’d like to set the right customer right from the dashboard. In another use case, a user could also edit the currency and amount in case the transaction amount and currency do not match the original invoice currency and amount.
The following are the additional changes that have been introduced in the Cash Application Manager Dashboard as part of this release:
Search NetSuite Customer
In the Edit mode, the dashboard allows you to search and add a NetSuite customer against a transaction. The search becomes active and provides matching NetSuite customer suggestion when you enter at least three characters in the NetSuite Customer column. The NetSuite
customer appears in suggestion only if an open invoice exists in NetSuite for that customer.
To see the complete list of NetSuite customers matching the keyword search, click on the search button.
Also when you click within the NetSuite Customer field, you may see a list of customer names with * mark at the end. The * mark indicates the customer identified as possible match using the fuzzy search logic.
This feature will allow CAM to improve match rate by learning from manual selections of customers on any unidentified transactions, when a customer name is supplied in the bank file but not identified in NetSuite.
When you edit a transaction and update a NetSuite Customer, the dashboard opens a dialog box that provides you with an option to set the Bank file customer name as an alias for the selected NetSuite customer name.
- Yes, if you want CAM to automatically use the new customer name every time a transaction has the customer name same as specified in the Bank File Customer column. When you select yes, CAM saves the NetSuite customer against the Bank File customer in the Celigo Cash App Alias List . While processing, CAM first searches for the Bank file customer name in NetSuite for an exact match, and if the match is not found, it searches for the bank file customer name in the aliases list to identify the right NetSuite customer.
- No, if you aren’t sure if the bank file customer is the correct alias for the selected NetSuite customer.
- Always remember the alias, if you want CAM to always save the bank file customer name as an alias, every time a user selects a NetSuite customer on a transaction.. Once you select this option, the Remember Alias field will always be shown as selected on the dashboard. To deactivate this feature, uncheck the Remember Alias field.
You can find the list of all the saved aliases against the NetSuite customer names by navigating to Cash Application Manager > Records > Celigo Cash App Alias in NetSuite. The Celigo Cash App Alias List page is displayed. You can use this page to edit or delete any alias added by you from the Dashboard page.
New graphical chart to show match methods
To improve the match rate CAM now comes equipped with different methods of invoice and customer searches, like the fuzzy search (approximate matches) and alias matching. For the end-users it may be of use to segregate and review the transactions based on the match method.
To this end, a new chart ‘Match Method’ has been added in the dashboard. The Match Method chart enables you to find and access the transactions based on the following categories:
- Exact Match: Customer identified using the MICR number, Invoice, or the customer name..
- Alias Match: Customer identified using the ‘Alias matching’ functionality.
- Approximate Match: Customer identified using the fuzzy logic search.
- Manual Match: Customer identified and updated manually by the user.
This chart allows a user to easily review the transactions for accuracy, especially in the cases when they are matched using aliases or fuzzy search.
Transaction details Sub-list
The dashboard has been enhanced to display the transaction records details as a sub-list within the dashboard by allowing you to drill-down on each transaction. From the Transaction No. column, click the expand arrow against the transaction number to access more details. The transaction detail sub-list shows all the Invoices, Credit memos and Payments related to a particular transaction without having to navigate away from the dashboard. This feature would eliminate the need to open a transaction in NetSuite and reduce multiple clicks to access payment or invoice related details.
New columns added in the transaction table
The following are the new columns added into the dashboard as part of this release:
- Date Created
- Transaction Currency
- Bank File Customer
- NetSuite Customer
- Transaction Subsidiary
- Transaction Memo
Support for NetSuite’s Multi-Subsidiary Customer feature
If you use NetSuite OneWorld, prior to the 2018.1 release, NetSuite allowed users to assign a customer record to only one subsidiary. With the 2018.1 release, NetSuite is introducing the Multi-Subsidiary Customer feature that permits you to share a customer or sub-customer record with multiple subsidiaries.
With this release, CAM has been enhanced to also support the Multi-Subsidiary Customer feature. The following scenarios explain the CAM functionality in different situations:
- When the subsidiary information is present in the bank file and identified by the connector
In this scenario, the payment will be created for a subsidiary coming from the bank file regardless of whether it is a primary or a secondary subsidiary.
- When subsidiary information is not present in the bank file but exists in invoice pertaining to a customer
In this scenario, the payment will be created for a subsidiary mentioned in an invoice regardless of whether it is a primary or a secondary subsidiary.
- When subsidiary information is not present in either the bank file or if there are no invoices in the transaction
In this scenario, the payment will be created against the primary subsidiary associated with the customer.
Note: When the FIFO auto-application of payments to invoices feature is enabled, CAM will create a payment for a subsidiary coming from the bank file and the payment will only be applied to the invoices belonging to the bank file subsidiary in a FIFO manner. When subsidiary information is not present in the bank file, a payment will be created against the primary subsidiary associated with the customer and auto-applied to the invoices belonging to the primary subsidiary only.
Customer deposits and write-offs will be created against the subsidiary for which the payment is being created regardless of whether it is a primary or a secondary subsidiary.
New advanced search logic to improve match-rate
Prior to this enhancement, the customer name from the bank file was only considered for payment creation when the exact customer match was found in NetSuite. In real-world user may not enter the customer's name that exactly matches with the name of a customer in NetSuite. For example, the customer name in the bank may be “ABC LTD” while in the NetSuite it may be “ABC INC”. This impacted the customer identification match rate to identify the customer in NetSuite.
To improve the customer match rate between the bank file and NetSuite when the customer name is not exactly matching, a new advanced search algorithm has been introduced in CAM. This new search logic helps in identifying the possible customer in NetSuite when the customer name in bank file does not exactly match. A threshold value determines the degree of search results with 0.1 being highest and 1 being lowest.
Increased limit for customer advanced search
The customer advanced search uses fuzzy logic to identify customers by name. If a direct match is not found, the search algorithm searches for customer records with similar names, and the limit for returned results increases from 2000 to 8000.
Note: This search is applicable only for the Customers that have an Invoice open for the last 90 days (from the date of processing). The results returned are approximate matches, so you should carefully review the matches found using fuzzy search logic.
Limitation: This search is limited to get the details of the Customers that have an Invoice open for the last 90 days (from the date of processing).
Navigate to Bank File to NetSuite > Settings > Advanced Settings > Advanced Search for Customer to enable or disable the advanced search, and set the threshold value. By default, the threshold is set to the recommended value of 0.1.
Note: The results returned are approximate matches and we recommend users to review the matches found using this advanced search logic.
Scenario 1: Exact Match
The advanced search logic is used by CAM when the connector is unable to find a matching customer mentioned in the bank file with the customer in NetSuite. The connector will not look for another possible matching customer in NetSuite when the exact match is available. The following screen demonstrates the same in NetSuite:
In this case, the Customer Identification Method populates as Exact Match, and no Approximate Matches for Customer fields information returns. The matching NetSuite customer is added to the Celigo Cash App Transaction record.
Scenario 2: One match found using customer advanced search
If there is no exact match on the customer name between the bank file and NetSuite, and you get only one search result using the advanced search, the connector automatically sets that customer as the NetSuite customer.
In this scenario, the connector doesn't populate the Approximate Matches for Customer field, but the customer identified using fuzzy logic is added into the Celigo Cash App Transaction record and the Customer Identification Method field populates as Approximate Match.
Scenario 3: Multiple matches found using customer advanced search
In the case when there is no exact match between customer name in the bank file and NetSuite, and you get multiple search results using the fuzzy search then the connector only displays possible matches in the Approximate Matches for Customer field.
In this scenario, as you can see in the following image, no information is populated by the connector in the NetSuite Customer and Customer Identification Method fields. When multiple results are found, the results are displayed in Celigo Cash App Transaction record > Celigo > Approximate Matches for Customer. You can manually edit the transaction and add the right customer based on fuzzy search suggestions.
Support for ignoring transactions with zero amount
A new checkbox, Skip Zero Amount Transactions, has been added to the Bank File to NetSuite > Settings > Advanced Settings. When enabled, this checkbox allows you to filter out any zero amount transactions from the bank file to be processed in NetSuite.
Note: The checkbox is enabled by default.
You can disable the checkbox, to create payments for transactions with zero amount in NetSuite.
View Bank Name at the Batch level
The Celigo Cash App Batch record in NetSuite has been enhanced to display the bank name associated with the Lockbox/Account Number. This will enable the user to easily sort or search batches across Banks and is helpful when multiple users in an AR team audit or verify the transactions.
Option to provide the absolute or percentage amount for Write Off/Customer Deposit threshold
Prior to this release, the Write Off Threshold Amount and Customer Deposit Threshold Amount fields in the File Processing tab for the Bank Transactions to NetSuite flow only accepted absolute amount as the threshold amount.
With this release, these fields have been enhanced to also accept percentage amount along with the absolute amount for which customer deposit/write off needs to be generated. For percentage, provide a number followed by the % character. For example, 10 %.
Note: You can still provide an absolute amount in this field.
Support for entering a range of transaction codes to be skipped or included for processing
In the previous CAM release v1.11.0, a new setting, Enter Transaction Codes, was introduced in the Settings> Advanced Settings section of the Bank File to NetSuite flow. This setting allowed you to enter the transaction codes that you wanted to skip for processing. For more details see, the New setting to skip transaction from bank file based on transaction codes section in Cash Application Manager | November 2017 (version 1.11.0).
In this release, the Enter Transaction Codes field has been enhanced to also support ranges of transaction codes. Enter individual transaction code(s) or range(s) separated by a comma. Based on your choice, corresponding transactions will either be skipped or included for processing from the bank file. Use '-' to indicate a code range. For example: 100, 201-299, 305.
Enhancements in Cash Application Manager Dashboard
The following are the changes that have been introduced in the Cash Application Manager Dashboard as part of this release:
New filter to select BANK:
Along with the option to filter transactions based on account/payment type, this new drop-down list allows you to further filter transactions from the selected bank(s). Once you select a bank in this drop-down list, the ACCOUNTS / PAYMENT TYPE field will only display payment types associated with the selected bank.
Changes in the ACCOUNTS / PAYMENT TYPE drop-down list
To enhance the user experience, a new option, Select All/Unselect All, has been added to this filter.
Default loading of Transactions in Dashboard
This feature reduces the number of clicks required to render the dashboard for a user to view the transactions. By default, the dashboard will load with transactions from the previous day for a quick review. This will select all the banks and accounts/payment types by default. In case you need to change the date range you can alter from the START DATE and END DATE fields.
Added new columns in the tabular form of transaction data
Last Updated Timestamp: Displays information about the date and time when each transaction was created or modified. This field helps you in identifying when a particular transaction was modified in NetSuite.
Status Reason Code: Displays error message to inform you why a transaction has failed to create a payment. The error message is only displayed for a transaction with Status as Errors/Skipped.
Added a field to reprocess transactions
This enhancement aims to provide a way for you to easily view the skipped/errored out transactions and then make corrections based on the error messages directly from the dashboard. Once the corrections are made, you can select all the transactions that need to be reprocessed and resubmit them.
This field specifically enables you to resubmit the transactions of your choice directly from the dashboard. Select transactions and click the REPROCESS field to initiate re-processing of the selected transactions.
- Archive bank file in NetSuite
A new field, Archive file, has been added in the Settings > File Import tab for the Bank File to NetSuite integration flow. This field allows you to archive the bank file processed using the Bank File to NetSuite integration flow in NetSuite. When you enable this checkbox, the connector displays the NetSuite Archive Folder field. Use this field to specify the NetSuite file cabinet location where the outgoing file must be archived once it has been transferred.
After you enable this feature and the bank file gets processed successfully from the FTP server, the connector creates a copy of the file in NetSuite file cabinet folder.
Note: This feature is not supported when you manually upload
Extended the Auto-application of Payments support for ACH
The Invoice Auto-application field allows you to toggle On/Off the auto-application of payment to open invoices for ACH. By default, the auto-application of payments to invoices is On for ACH. If there are no invoices identified in the incoming file and this setting is ON then the payment is applied to the open invoices for the customer in the FIFO order (First-in-first out order). This means, after identifying the customer for a transaction, CAM applies payment on the open invoices in the order of their creation date (Oldest open invoice is closed first). For more information see, Auto-application of Payments to Invoices.
- Addition of a new CAMT.054c / ISO20020 format template
A new template, CAMT.054c / ISO20020 format, has been added to the connector. This XML based template is popular mostly with European banks.
Enhanced the functionality for extracting invoice information from the NACHA files
Customers usually provide additional information describing the transaction (for example, the invoice number and customer name) which is often transferred as the transaction detail information in the bank files. For the NACHA files, this information is usually present in the record type 7 (addenda record).
The NACHA (ACH) file can contain multiple rows for record type 7 (addenda record). The connector has been enhanced to extract information from each row of the 705 record for a transaction.
With this enhancement, the connector groups all the 705 rows for a transaction in a bank file before a regular expression is used to extract invoices.
Enhanced the functionality for extracting invoice information from the HSBC wires
Prior to this enhancement, the connector was only using the information in Type 88 – Continuation Record to determine the customer and invoice information. However, the HSBC Wires file may also contain customer or Invoice information in the 7th column of the Type 16 record.
With this enhancement, the connector has been enhanced to also consider the information in the 7th column of the Type 16 record along with all Type 88 – Continuation Record to determine the customer and invoice for a transaction.
Support for manually uploading a bank file in CAM
Prior to this enhancement, the connector only provided you with one option of importing a bank file into the connector, which was by configuring the FTP connection with the bank. In this case, the connector performed a scheduled pull of the bank file from the bank FTP server. This bank file was then processed by the connector to create payments in NetSuite.
As part of this enhancement, the connector has been enhanced to provide you with an additional option to manually upload a bank file from your local system into the connector. A new field, the Enable Manual Upload Mode, has been added in the General section to support this feature.
For more information on all available ways of importing bank file into the connector, see Set Up a Bank File in Cash Application Manager.
Enhanced multi-subsidiary support for payment creation
Prior to this enhancement, CAM allowed you to configure one GL account and dummy customer for one subsidiary. With this enhancement, a new field, Multi-subsidiary Settings, has been added in the Bank File to NetSuite flow that allows you to map GL accounts and Dummy customers for multiple subsidiaries for each payment type. This feature is aimed at ‘One World’ customers who have multiple subsidiaries and have complex accounting needs wherein each subsidiary would require unique GL accounts for payment creation, write-offs, and customer deposits. The accountant or the controller can easily specify the GL accounts for each subsidiary against each payment type and bank. To access this field, click the Settings icon against the Bank File to NetSuite flow. The Setting window is displayed. Click Advanced Settings > Multi-subsidiary Settings.
For more information on this enhancement, see Multi-Subsidiary setup in CAM.
Improved the logic for the Auto-application of Payments to Invoices feature
One of the core factors that directly impact the value to CAM customers is the match rate of payments to open invoices. The Wire files especially in the BAI2 and MT940 formats typically lack the structure of a CSV or a Lockbox file and may not always have sufficient invoice related information. This can result in more payments being unidentified or unapplied. To mitigate this, we have introduced the auto-application of payments to open invoices on a FIFO(First In First Out) basis if there is no invoice information available on the transaction. This shall boost the match rate and reduce the need for manual intervention.
For more information, see Auto-application of Payments to Invoices (Wires).
New field in the Celigo Cash App Transaction record
Customers usually provide additional information describing the transaction which is often transferred as the transaction detail information in the bank files. For BAI2 files this information is usually present in the record type 88 and for NACHA files this information is usually present in the record type 7 (addenda record). A new field, Memo, has been added in the Celigo Cash App Transaction record within NetSuite to store this information. This enables you to understand a transaction better. Also, you can use this information to match a transaction with associated customer or invoice.
Addition of a new template for the bank BPDP (Bank Populare di Paris - France)
A new template has been added to the connector for the Bank Popular di Paris Bank in the CSV format to support the Wires file type.
New setting to fail payment if posting period is locked
A new checkbox, Don't create a payment in locked posting period, has been added to the Bank File to NetSuite flow > Settings > Advanced Settings. By default, this setting is enabled in CAM. When this checkbox is enabled, the payments will not be created in NetSuite if the posting period is locked. When the checkbox is unchecked, the payment can be created in a locked period as well.
Updated field labels in the Celigo Cash App Transaction record
Prior to this enhancement, the field labels for the Customer, Credit Memo, and Invoice fields, in the Celigo Cash App Transaction record, did not clearly describe if they were native NetSuite or Bank file fields.
With this enhancement, the Customer, Credit Memo, and Invoice fields labels in the Celigo Cash App Transaction record have been modified so that you can easily differentiate between native NetSuite fields and Bank file fields.
The following screenshot highlights the fields with updated labels:
New fields added in the Settings window for the Bank File to NetSuite flow.The following fields have been added to the Settings > Advanced Settings tab for the Bank File to NetSuite flow.
- Customer has priority
For more information see, Settings to match invoices by Transaction customer over Invoice customer.
- Invoice Auto-application:
For more information see, Setting to Toggle Auto-application of Payments in Wires.
- Customer has priority
Template for Rabo Bank
A new template has been added in the connector for the Rabo Bank in MT940 format to support ACH and Wires.
Enhanced Multi-Currency Processing
There are different ways in which a bank shares the currency information for a transaction. The bank file may contain this information at the file level, batch level, or transaction level. Sometimes, the currency for a bank is fixed and all the incoming files have transactions in the same predetermined currency. It is imperative to use the currency and amount specified by the bank while creating payments in NetSuite.
With this release, you can easily specify the currency information at the file and flow level using the Default Currency field(as shown in the following image) or you can map the incoming file currency information using the Field Mapping option for the Bank Transactions to NetSuite flow.
When you do not use mapping or the Default Currency field to specify the currency information, the payments are created in the currency specified for invoice customer in NetSuite by you. In a situation where there is a mismatch in the currency coming from the bank and the currency specified in NetSuite, the transaction is skipped. You can view such transactions in the Cash application transaction records for rectification.
Regular Expressions support extended to HSBC Wires
In the previous CAM release v1.8.0, the Regular Expressions Support for BofA Wires feature was introduced. For more details see, the Regular Expressions Support for BofA Wires section in Cash Application Manager | October 2017 (version 1.8.0).
This feature for extracting invoices and customer details using Regular Expression has now been extended to HSBC Wire.
Enhanced the Enter Transaction Codes setting to allow both skipping and including of chosen transaction code
In the previous CAM release v1.11.0, a new setting, Enter Transaction Codes, was introduced in the Settings> Advanced Settings section of the Bank File to NetSuite flow For more details see, the New setting to skip transaction from bank file based on transaction codes section in Cash Application Manager | November 2017 (version 1.11.0).
In this release, a new setting, Transaction Filter: Choose an action, has been added to the Settings icon > Advanced Settings tab against the Bank File to NetSuite flow.
This setting allows you to specify how certain transaction codes specified in the Enter Transaction Codes field are processed by the connector. This field contains the following three options:
- Skip: Select this option to skip the transaction codes which have been specified in the Enter Transaction Codes field
- Allow: Select this option to only allow the processing of transaction codes specified in the Enter Transaction Codes field. All other incoming transaction codes will be ignored.
- Default: Choose this option to process all the incoming transaction codes. This is the default selection.
New setting to skip transaction from bank file based on transaction codes
A new tab and a setting have been added in the Settings section of the Bank File to NetSuite flow. This setting allows you enter transaction codes from bank file (separated by commas when multiple transaction codes need to be entered) in to this field. Once the flow is executed, the connector ignores the transaction associated with the transaction codes entered in this field.
To access this setting, use the following steps:
- Login into your integrator.io account.
- Click the Settings icon against the Bank File to NetSuite flow. The Settings page is displayed.
- Click the Advanced Settings tab.
- Enter the transaction codes for the transactions to be skipped by flow during flow execution in the Transaction Codes to Skip field.
Note: To separate multiple transaction codes in this field use comma as a separator.
- Click Save.
Addition of new field in the Celigo Cash App Batch Record
A new field, Errors/Skipped (Count), has been introduced in the Celigo Cash App Batch Record > Transaction Summary tab within NetSuite. This new field displays the count of transactions in the bank file for which the payment could not be created in NetSuite.
You can find the details of skipped or errored out transactions in the Lockbox Transactions tab.
Support for Mixed Payment file processing
Prior to this release, CAM supported the bank file that consisted of only one payment type. In some cases, users may also receive a single payment bank file for Accounts Receivables that contains details about payments made via different transaction type. To enable you for using such file two new flows have been added in the connector. The new feature allows you to configure Cash Application Manager in a way that it reads and identifies the transaction type and payment methods present in the mixed payment bank file based on the following criteria:
- Batch number
- Keyword in bank file
For more information, see Support for mixed payment bank file.
Regular Expressions support extended to SVB, Wells Fargo, and PNC Wires
In the previous CAM release v1.8.0, the Regular Expressions Support for BofA Wires feature was introduced. For more details see, the Regular Expressions Support for BofA Wires section in Cash Application Manager | October 2017 (version 1.8.0).
Prior to this release, this feature was only supported by Bank of America. This feature for extracting invoices and customer details using Regular Expression has now been extended to SVB, Wells Fargo, and PNC Wire.
- Settings to match invoices by Transaction customer over Invoice customer
By default, the Cash Application Manager uses the invoice number present in the bank files to find a matching invoice record in NetSuite and payment is created against the matching invoices found in NetSuite.
In some cases, the bank file may also contain a false invoice number that may still find a match in NetSuite. To avoid this scenario, a new setting has been introduced that allows you to direct the connector to search for invoices under the Transaction customer first and apply payments only to those invoices that belong to the Transaction customer.
As part of this enhancement, the payment is not applied to the incoming invoices which do not belong to the Transaction customer. This functionality is also supported by Parent customers wherein the invoices directly belonging to the Parent customer are matched to the payment while the payment is not applied to any incoming child invoices in case this setting is chosen.
- Multiple payments creation when invoices belong to different customers
In some cases, multiple invoices are supplied with a Bank transaction for different customers. This may happen when a Parent customer pays for its own share and its child customer pays for their own demand or when a third party pays for different customers.
With this release, in the case of Parent-Child payments, Cash Application Manager allows you to create single payment at the Parent level which is then applied to the incoming invoices. In the case of third-party payments, payments are created for every customer and then applied to respective invoices.
When there are short payments made in the case of third-party payments, the payments are applied to invoices till the amount is completely matched. In case of partially applied payments for third-party payments, the remaining amount is utilized to create a payment on the Transaction customer. If the Transaction customer is not selected, the payment is created under the dummy customer.
- Setting to toggle Auto-application of Payments in Wires
This setting allows you to toggle On/Off the auto-application of payment to open invoices for Wires. By default, the auto-application of payments to invoices is On for Wires. If there are no invoices in the incoming file and this setting is ON, the payment is applied to open invoices on the customer. Also, if there is at least one incoming invoice then the payment is applied to the incoming invoice only while any amount remaining will not be applied further. If this setting is turned off, then the payment shall only be applied to the incoming invoices in the files.
- Regular Expressions Support for BofA Wires
This enhancement has been designed for extracting invoices and customer details for Bank of America Wire files using regular expressions. Use of one or more regular expression makes it easier for BofA customers and users to allow easier extraction of invoice and customer details from a Wire transaction. This helps in increasing the match rate of incoming invoices with the NetSuite invoices and boosts the accuracy of overall Cash Application Manager.
To access the regular expression, click on Settings icon pertaining to the Bank File to NetSuite flow. The Settings dialog box is displayed. Click on the File Parsing tab. You can find the regular expression in Type 88 – Continuation Record.
- Support for Token-Based Authentication (TBA)
With this release, Cash Application Manager supports Token Based Authentication (TBA) which uses revocable tokens instead of username and passwords. It is a more secure way of connecting to NetSuite. Another advantage is that unlike passwords which expire after an interval, the Tokens do not expire and can be revoked if required to control access by an application.
As a user, you can choose between basic and token based authentications at any point in time and update your connection accordingly. Once you have configured your NetSuite Account Credentials using the Basic authentication type, you can go to the Connections option, locate the NetSuite Connection and click the Edit icon. The connection page is displayed. From this page, select the Authentication type value as Token and enter the required information.
For more information see, How to change NetSuite Connection from Basic to Token?
- New setting options:
The following options have been added in the File Import tab of Settings in the Bank File to NetSuite flow:
- Invoice identifier field - If you are using another field in NetSuite to save Invoice numbers other than the standard field, then it can be defined in the setting options.
- Define invoice prefixes - If your NetSuite account assigns different prefixes to the invoices e.g. IV, INV etc., it can become difficult to match them with the invoice information in the bank file. Now you can define all the invoice prefixes used in the NetSuite account so that they can be matched easily.
- Ignore certain customers - In some cases, the bank file can contain information for customers for whom Payments should not be created in NetSuite e.g. vendor payment information is present in the bank file. Now you can define a list of customers who should be ignored even if they are present in the bank file. All transactions associated with these customers in the bank file will be ignored.
- Support for Consolidated Invoices
If you are using NetSuite’s Consolidated Invoice solution (Consolidated Invoicing (Bundle Id - 154385)) you can generate consolidated invoices to be sent out. Each invoice that is linked to a CI (consolidated invoice) record has a custom field on it that references the CI. Customers will reference the CI number on their bank statements. We then take this CI number, search all invoices that reference this CI number, and get all the results and apply cash to them one by one until all cash is applied, or all invoices are applied to.
In the setting options you can turn on matching Consolidated invoices and also specify which field in the Invoice record stores the CI number.
- Enhanced support for MICR number - Cash Application Manager now supports matching customers based in MICR number in the bank file and also updating the MICR number in NetSuite if the MICR number is not present for a Customer. Cash Application Manager creates a custom record in NetSuite to maintain the mapping between MICR number and Customers. To use MICR Number support, a new row - MICR Number row should be added under the transaction header in File parsing section. This lets Cash Application Manager know from where to read the MICR number in the bank file.