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Handling Incorrect Remittance Information in Cash Application

Handling Incorrect Remittance Information in Cash Application

Watch this tutorial and learn how to handle incorrect data in remittance processing and minimize the risk of unclaimed funds.

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About this course

promoImage
description
lessonOverview

When a payment is received, the ideal situation would be auto-applying them to the correct account and invoice and clear with no human intervention.

Unfortunately, this is a dream for a lot of A/R analysts who spend hours daily processing and identifying the source of those remittances. 

In reality, the remittance information is either incorrect or missing making the task of A/R analysts all the more difficult. 

Well, worry no more! Watch this tutorial by John M. Donovan, as he devises strategies to avoid this additional effort and make your cash application technically more viable. 

In this 25-minutes course, John will cover:-

i) How the adoption of gap analysis and a well-definite approach could help you in standardizing your remittance processing procedures

ii) How to enhance the capability of your matching algorithm, especially for the large volume accounts 

iii) How to make your process steps consistent and mitigate the risk of these unclaimed funds 
   
resources Coming Soon
discuss Coming Soon
instructor
name title image description
JOHN M.DONOVAN Advisory Services Consultant, Quote to Payment, Subject Matter Expert John M. Donovan is a senior financial services executive specializing in all aspects of the Order-to-Cash and back-office processes. Managed several very large global A/R portfolios for major Fortune 100 and 500 high-growth companies in various stages of delivery and transition, as well as small companies in a startup and growth mode.
recommendation
image tag title description link duration

Cash Reconciliation O2C

 Handle Remittance Advice Without Payment Watch this course on remittance advice and learn how to handle a remittance advice without payment and simplify straight-through posting for A/R analysts now! https://academy.highako.com/handle-remittance-advice-without-payment 18 Mins

Cash Reconciliation O2C

 How to Handle No Remittance Advice in Cash Application Watch this course on remittance advice and simplify the record-keeping process of specific invoices for A/R analysts now! https://academy.highako.com/how-to-handle-no-remittance-advice-in-cash-application 10 Mins

Cash Reconciliation

 How to Handle Unidentified Remittances in Cash Application This course on unidentified remittances will help A/R analysts to build a well-defined process where they will be able to identify and standardize the source of remittance. https://academy.highako.com/how-to-handle-unidentified-remittances-in-cash-application 15 Mins
tribe
widgetType Id components
topic cash-application input

Curriculum21 Mins

  • Brief Overview of Challenge #7 (~2 Mins)
  • Preview
    Introduction to Challenge #7
  • 7-Step Process to Validate Remittance Information (~ 2 Mins)
  • 7-Step Process to Validate Remittance Information
  • 13 Checkpoints to Consider for Remittance Advise Data (~ 5 Mins)
  • Preview
    13 Checkpoints to Consider for Remittance Advise Data - Part I
  • 13 Checkpoints to Consider for Remittance Advise Data - Part 2
  • What is Unclaimed Property and How to Report them (~3 Mins)
  • What is Unclaimed Property and How to Report them
  • 7 Remittance Information Scenarios to Consider (~2 Mins)
  • 7 Remittance Information Scenarios to Consider
  • 6 Steps to Improve Remittance Information (~ 2 Mins)
  • 6 Steps to Improve Remittance Information
  • 12 Things to Consider for Unidentified Remittances (~ 5 Mins)
  • 12 Things to Consider for Unidentified Remittances

About this course

promoImage
description
lessonOverview

When a payment is received, the ideal situation would be auto-applying them to the correct account and invoice and clear with no human intervention.

Unfortunately, this is a dream for a lot of A/R analysts who spend hours daily processing and identifying the source of those remittances. 

In reality, the remittance information is either incorrect or missing making the task of A/R analysts all the more difficult. 

Well, worry no more! Watch this tutorial by John M. Donovan, as he devises strategies to avoid this additional effort and make your cash application technically more viable. 

In this 25-minutes course, John will cover:-

i) How the adoption of gap analysis and a well-definite approach could help you in standardizing your remittance processing procedures

ii) How to enhance the capability of your matching algorithm, especially for the large volume accounts 

iii) How to make your process steps consistent and mitigate the risk of these unclaimed funds 
   
resources Coming Soon
discuss Coming Soon
instructor
name title image description
JOHN M.DONOVAN Advisory Services Consultant, Quote to Payment, Subject Matter Expert John M. Donovan is a senior financial services executive specializing in all aspects of the Order-to-Cash and back-office processes. Managed several very large global A/R portfolios for major Fortune 100 and 500 high-growth companies in various stages of delivery and transition, as well as small companies in a startup and growth mode.
recommendation
image tag title description link duration

Cash Reconciliation O2C

 Handle Remittance Advice Without Payment Watch this course on remittance advice and learn how to handle a remittance advice without payment and simplify straight-through posting for A/R analysts now! https://academy.highako.com/handle-remittance-advice-without-payment 18 Mins

Cash Reconciliation O2C

 How to Handle No Remittance Advice in Cash Application Watch this course on remittance advice and simplify the record-keeping process of specific invoices for A/R analysts now! https://academy.highako.com/how-to-handle-no-remittance-advice-in-cash-application 10 Mins

Cash Reconciliation

 How to Handle Unidentified Remittances in Cash Application This course on unidentified remittances will help A/R analysts to build a well-defined process where they will be able to identify and standardize the source of remittance. https://academy.highako.com/how-to-handle-unidentified-remittances-in-cash-application 15 Mins
tribe
widgetType Id components
topic cash-application input

Curriculum21 Mins

  • Brief Overview of Challenge #7 (~2 Mins)
  • Preview
    Introduction to Challenge #7
  • 7-Step Process to Validate Remittance Information (~ 2 Mins)
  • 7-Step Process to Validate Remittance Information
  • 13 Checkpoints to Consider for Remittance Advise Data (~ 5 Mins)
  • Preview
    13 Checkpoints to Consider for Remittance Advise Data - Part I
  • 13 Checkpoints to Consider for Remittance Advise Data - Part 2
  • What is Unclaimed Property and How to Report them (~3 Mins)
  • What is Unclaimed Property and How to Report them
  • 7 Remittance Information Scenarios to Consider (~2 Mins)
  • 7 Remittance Information Scenarios to Consider
  • 6 Steps to Improve Remittance Information (~ 2 Mins)
  • 6 Steps to Improve Remittance Information
  • 12 Things to Consider for Unidentified Remittances (~ 5 Mins)
  • 12 Things to Consider for Unidentified Remittances