FinanceSuite AutoBank Automatic Cash Application – New Functionalities in the Release 5.1

The latest release 5.1 of FinanceSuite AutoBank Automatic Cash Application brings about several improvements. Here, we would like to summarize the most important innovations for you:

  • In line with SEPA regulations, a new function module was developed that is connected directly to the SAP electronic bank statement and that ensures that at the start of the account processing partner bank information such as bank number, account number and IBAN are completed automatically.
  • The lockbox processing has been linked with the processing of remittance advices in the release 5.1. This enables the linking of incoming check payments to the corresponding remittance advices, and the posting of both transactions in one step. This brings about more transparency and faster processes.
  • The deduction management for remittance advices was expanded. Deduction types are now more flexible: You can select the definitions variably, and the selection options for external and internal reason codes were increased. Moreover, you can now define multiple posting rules per deduction type that are used according to the respective conditions.
  • Enhancements to the performance in processing mass data in the area of bank statements and remittance advices were achieved by parallelizing numerous transactions which accelerates processes.

Please feel free to contact us, if you would like to know more about the new release!