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Bank File Integration
Posted on: June 25, 2024 | By: Meaghan Andrews | QAD Financials, QAD Business Process
QAD EE .NET and AUX allow for the use of an Excel load for cash receipts via Bank File Integration. This offers numerous benefits that streamline the cash receipt process.
Excel templates can be created with built-in formulas that reference remittance files provided by customers. Additionally, these templates can be designed to automatically calculate deductions and discounts where applicable. Utilizing such a template can significantly decrease errors associated with manual data entry and speed up the process of entering cash receipts, particularly in environments with high transaction volumes.
The Bank File feature can also serve as a convenient tool for manually inputting remittance information found on customer checks. This functionality allows users to bypass the standard Customer Payment screens, which can often be more time-consuming and require additional steps. By using the Bank File option, users can directly input relevant information from checks into the system, streamlining the data entry process and saving valuable time.
When processing the Bank File, any errors within the data are flagged as pending, while the accurate lines are processed without interruption. This approach allows users to focus their time and effort on researching and resolving exceptions rather than getting bogged down in routine transactions. This targeted approach not only enhances data accuracy but also optimizes resource allocation by directing attention to areas requiring manual intervention and resolution.
The availability of the Bank File Integration program is EE 2016 and after and can be run in AUX or .NET. There is an AUX version of the bank file import in AUX. You can export as shown below as well as customize the template to only include the necessary fields.
Conclusion
To conclude, Bank File Integration is a highly useful program that provides many benefits. These include minimizing data entry errors, enhancing the efficiency of the cash receipt entry process, streamlining the data entry process, and optimizing resource allocation.
Next Steps
If you are interested in learning more about Bank File Integration, contact us here to find out how we can help you grow your business. You can also email us at info@loganconsulting.com or call (312) 345-8817.
