Highly Intelligent Accounts Receivable Automation Software at SK Global

Do you find that your current accounts receivable automation software does not automate enough? If there are too many unresolved transactions at the end of the period, the cost of manual reconciliation can be significant.

SK Global’s Treasury Automation Suite was created to be an intelligent payment matching software. It automates as many customer payments as possible, saving a great deal of time and expense.

You can create multiple rules, with multiple “degrees of confidence” levels — in order to automate many more accounts receivable transactions — using our Accounts Receivable Automation software. It runs continuously in the background and can flag discrepancies as soon as they are found.

Customer Payment Matching

Payment matching in SK Global’s Accounts Receivable Automation software is configurable down to the user level. Matches can be made based on dates, amounts, payment reference or deposit or check number in Microsoft Dynamics 365 Finance and Operations, Microsoft Dynamics AX 2012 and Microsoft Dynamics AX 2009.

You can customize the payment matching based on our software’s rule groups. And for each level of rules, you can add a confidence level which will trigger a tolerance.

For example, if the first rule is that the check number or payment reference number and an amount matches, then it is a match with a 100% confidence level.

If there is not an exact match on the first rule because the amount is off by $5 or €5, for example, then the second rule is taken into consideration. In our example, the second rule is if the reference number matches, then it is considered a match with a 90% confidence level.

Summary Journal Matching Rule

SK Global’s Accounts Receivable Automation Software has a special Summary Journal matching rule, which will match many transactions from Microsoft Dynamics 365 Finance and Operations to one bank statement – automatically. It is a very powerful tool that solves a very common problem.

Mapping Rules to create GL Entries

Our Accounts Receivable software goes even further with customer payment matching. If the transactions are not in Microsoft Dynamics 365 Finance and Operations but are seen on the bank statement, our Treasury Automation Suite can create GL entries, using parsed data from descriptive fields.

If you wish, you may also auto-post GL journals. These will be recorded with the day the journal was cleared, no matter when the reconciliation period ends.

These are just some of the features of SK Global’s Accounts Receivable Automation software, part of the Treasury Automation Suite. To find out more, schedule a demo or contact us for more information.