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How to Handle Unidentified Remittances in Cash Application
Cash Reconciliation
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.
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  • Lesson Overview
  • Resources
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Imagine an organization where minimal time is spent on identifying the remittances.

For instance, an invoice of $2,000 is pending and is directly posted on the account by the customer. The organization ends up paying $1,500 to the customer. 

Later, the organization realized the remaining amount was taken as deductions by the customer when they married the invoices with the remittances. Then, they initiate actions for hasty collections.

Unidentified remittance not only leads to customer satisfaction issues and impacts credit approvals and order releases. It also has a ripple effect on other O2C processes, like deductions and collections.

Well, how do you tackle such scenarios and alleviate the pain of your A/R team?

Tune in to this tutorial by John M. Donovan and learn how to create a clear well-defined process for handling unresolved remittances and save your remittances from becoming unclaimed property and hence impacting your A/R.

What's worth, this course will help you build a new customer orientation process that includes remittance instructions and checklists for standardizing your remittance processing procedure.

Key Takeaways:

  • 7 Major Reasons to Deal with Unidentified Remittances
  • 10-Step Process to Address Unidentified Remittance
  • 6 Crucial Initiatives for Remittance Process Improvements
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Instructor
JOHN M.DONOVAN · Advisory Sevices Consultant, Quote to Payment
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.
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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.

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About this course

promoImage
description
lessonOverview

Imagine an organization where minimal time is spent on identifying the remittances.

For instance, an invoice of $2,000 is pending and is directly posted on the account by the customer. The organization ends up paying $1,500 to the customer. 

Later, the organization realized the remaining amount was taken as deductions by the customer when they married the invoices with the remittances. Then, they initiate actions for hasty collections.

Unidentified remittance not only leads to customer satisfaction issues and impacts credit approvals and order releases. It also has a ripple effect on other O2C processes, like deductions and collections.

Well, how do you tackle such scenarios and alleviate the pain of your A/R team?

Tune in to this tutorial by John M. Donovan and learn how to create a clear well-defined process for handling unresolved remittances and save your remittances from becoming unclaimed property and hence impacting your A/R.

What's worth, this course will help you build a new customer orientation process that includes remittance instructions and checklists for standardizing your remittance processing procedure.

Key Takeaways:

  • 7 Major Reasons to Deal with Unidentified Remittances
  • 10-Step Process to Address Unidentified Remittance
  • 6 Crucial Initiatives for Remittance Process Improvements
   
resources Coming Soon
discuss Coming Soon
instructor
name title image description
JOHN M.DONOVAN Advisory Sevices Consultant, Quote to Payment 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
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Cash Reconciliation

 Remittance Processing 101 for A/R Analysts This course on remittance processing in cash application aims to revolutionize the b2b payment space by reconciling the major challenges of manual processing in cash application. https://academy.highako.com/remittance-processing-for-ar-analysts 30 Mins

Cash Reconciliation

 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

KPIs and Reporting

 Cash Application KPIs and Reporting Watch this tutorial to learn how to monitor cash application KPIs to achieve your business's long-term goals. https://academy.highako.com/cash-application-kpis-and-reporting 20 Mins
tribe
widgetType Id components
topic cash-application input

Curriculum15 Mins

About this course

promoImage
description
lessonOverview

Imagine an organization where minimal time is spent on identifying the remittances.

For instance, an invoice of $2,000 is pending and is directly posted on the account by the customer. The organization ends up paying $1,500 to the customer. 

Later, the organization realized the remaining amount was taken as deductions by the customer when they married the invoices with the remittances. Then, they initiate actions for hasty collections.

Unidentified remittance not only leads to customer satisfaction issues and impacts credit approvals and order releases. It also has a ripple effect on other O2C processes, like deductions and collections.

Well, how do you tackle such scenarios and alleviate the pain of your A/R team?

Tune in to this tutorial by John M. Donovan and learn how to create a clear well-defined process for handling unresolved remittances and save your remittances from becoming unclaimed property and hence impacting your A/R.

What's worth, this course will help you build a new customer orientation process that includes remittance instructions and checklists for standardizing your remittance processing procedure.

Key Takeaways:

  • 7 Major Reasons to Deal with Unidentified Remittances
  • 10-Step Process to Address Unidentified Remittance
  • 6 Crucial Initiatives for Remittance Process Improvements
   
resources Coming Soon
discuss Coming Soon
instructor
name title image description
JOHN M.DONOVAN Advisory Sevices Consultant, Quote to Payment 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

 Remittance Processing 101 for A/R Analysts This course on remittance processing in cash application aims to revolutionize the b2b payment space by reconciling the major challenges of manual processing in cash application. https://academy.highako.com/remittance-processing-for-ar-analysts 30 Mins

Cash Reconciliation

 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

KPIs and Reporting

 Cash Application KPIs and Reporting Watch this tutorial to learn how to monitor cash application KPIs to achieve your business's long-term goals. https://academy.highako.com/cash-application-kpis-and-reporting 20 Mins
tribe
widgetType Id components
topic cash-application input

Curriculum15 Mins