Cash Management

The Cash Management module supports the interactive reconciliation of financial accounts between the Spectrum software suite and your financial institutions. To support this reconciliation, Cash Management automatically maintains a database of all payment and deposit information. Then, as part of the reconciliation process, cleared payments are updated in both MicroFund and PayForce.

When the reconciliation process starts, you are presented with a list of payments and deposits that have not yet cleared the system. You may also enter any bank fees and interest. When clearing a payment made to an A/P vendor, you will find that all of the necessary information, such as net amount of check, date of check, vendor name and number, etc., has already been entered into the system. The payment information has been created in MicroFund via the normal payment process. The Cash Management module brings this information together to assist the user with the process of reconciling payments and checks.

Capabilities & Advantages

• Reconciles check information generated from Accounts Payable and Payroll

• Reconciles multiple bank accounts
• Provides the ability to enter outstanding checks from a previous system
• Provides the ability to enter and clear bank transactions from bank statement
• Provides the ability to void unused checks
• Provides the ability to enter beginning, debit, credit and ending amounts from bank statements
• Provides the ability to clear checks individually or by a range of check numbers
• Provides the ability to import banking transactions automatically using an electronic data transfer process. This import process marks cleared checks, verifies check amounts (system vs. bank) and generates exception reports for mismatched amounts.