Ultimate Cash Analytics
On a daily basis, bank statements of various banks & banking formats can be read and loaded into the Cashforce platform. Within the platform, the cash positions of all different banks & banks accounts are displayed.
Cashforce offers the traditional approach of reading & analyzing bank statements and automatically classifies incoming/outgoing cash based on the MT940s. Cashforce will also perform a complete Bank Fee Analysis for each bank & bank account. Allocation based on MT940 often offers only a limited granularity (incoming, outgoing, banking costs…), hence Cashforce has developed a more advanced approach. G/L based allication offers a deeper level of granularity than the MT940 allocation. Using a G/L allocation engine, bank statements will be enriched with entries originating from the general ledger (via a direct link with your ERP/Accounting system), increasing both granularity and relevancy of the allocation.
Cashforce will automatically reconcile information on the bank statements and data in the general ledger of your ERP system. The platform will automatically generate a daily reconciliation report. Any differences will be highlighted and communicated to the responsible person for resolution.
Cashforce also offers the option to manage new & existing credit facilities through the Cash Management module. It will be easy to oversee how many headroom is still available, as well as give a good overview of the credit facility usage over a selected period.