Streamline sending invoices and improve overall collection.
Automate your cash application process using an AR Robot to instantly match customer payments (checks, ACH, CC, Wire) to invoices.
How it works
AR robots identify paid balances and determine if any accounts are partial or overdue
Searches open invoices from the payments received. Uses 1:1 matching logic along with exceptions for discounts and credits.
Applies payments towards customer invoices in ERP system
How does an AR robot help?
Invoicing
Robot can build and email a PDF document to the buyer, detailing the products and services that have been rendered, the costs of those products and services, as well as the date when payment is expected.
Tracking
Robot keys out a payment deposited into the bank account, feeds it into the AR system, and then allocates it to an invoice. The bot also reconciles the AR ledger to ensure all the payments are accounted for and properly posted, and finally issues monthly statements to clients.
Scanning
Robot can read scanned check images or extract details from a Lockbox to post cash toward open invoices. The robot can apply complex matching rules, as well as read remittance documents to finish this process. (Exceptions may occur)
Journal Entry
Robot can build and email a PDF document to the buyer, detailing the products and services that have been rendered, the costs of those products and services, as well as the date payment is expected.
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Ready to schedule a demo?
Set a time with one of our RPA experts to learn how you can enhance your accounting team with Plena robots.
- hello@plenadata.com
- 2168 W Grove Pkwy, Suite 200, Pleasant Grove, UT 84062