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How to Standardize the Remittance Process in Cash Application
Cash Reconciliation
Watch this tutorial and learn how to handle funds with no open invoices by establishing a definite process workflow, like including reason code and payment instructions.
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  • Lesson Overview
  • Resources
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Do you know that adoption of a clear audit trail by various internal teams and setting-up reference codes and payment instructions with invoices could improve the overall remittance process by up to 20%? 

But, what if there are no open invoices and payments are received in the system? Bizarre, isn’t it? In reality, A/R analysts spend a lot of time following up with customers on how they wish to have their funds handled and put the same in writing. 

Well, worry no more! Watch this tutorial by John M. Donovan as he devises an approach on how A/R teams should handle these funds to avoid misunderstandings, disputes, future reconciliation issues, and A/R instability. 

In this 20-minutes course, John will cover:-

i) How implementing documentation consistency can help resolve the issue of unidentified remittances

ii) How to encourage various internal teams to collaborate with each other to standardize the remittance process

iii) How to set-up a definite workflow process for investigating unidentified receipts

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Instructor
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.
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How to Standardize the Remittance Process in Cash Application

Watch this tutorial and learn how to handle funds with no open invoices by establishing a definite process workflow, like including reason code and payment instructions.

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About this course

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description
lessonOverview

Do you know that adoption of a clear audit trail by various internal teams and setting-up reference codes and payment instructions with invoices could improve the overall remittance process by up to 20%? 

But, what if there are no open invoices and payments are received in the system? Bizarre, isn’t it? In reality, A/R analysts spend a lot of time following up with customers on how they wish to have their funds handled and put the same in writing. 

Well, worry no more! Watch this tutorial by John M. Donovan as he devises an approach on how A/R teams should handle these funds to avoid misunderstandings, disputes, future reconciliation issues, and A/R instability. 

In this 20-minutes course, John will cover:-

i) How implementing documentation consistency can help resolve the issue of unidentified remittances

ii) How to encourage various internal teams to collaborate with each other to standardize the remittance process

iii) How to set-up a definite workflow process for investigating unidentified receipts
   
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

 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 #13 (~2 Mins)
  • Preview
    Introduction to Challenge #13
  • 3 Major Reasons Behind Payment-Invoice Scenarios (~ 3 Mins)
  • 3 Major Reasons Behind Payment-Invoice Scenarios
  • 3-Step Process to Check on Pending Transactions (~4 Mins)
  • 3-Step Process to Check on Pending Transactions
  • 6 Ways to Handle the Unidentified Remittances (~4 Mins)
  • 6 Ways to Handle the Unidentified Remittances
  • 8 Ways to Evaluate Your Remittance Processing System (~4 Mins)
  • 8 Ways to Evaluate Your Remittance Processing System
  • 10 Initiatives to Standardize Your Remittance Processing System (~ 6 Mins)
  • 10 Initiatives to Standardize Your Remittance Processing System

About this course

promoImage
description
lessonOverview

Do you know that adoption of a clear audit trail by various internal teams and setting-up reference codes and payment instructions with invoices could improve the overall remittance process by up to 20%? 

But, what if there are no open invoices and payments are received in the system? Bizarre, isn’t it? In reality, A/R analysts spend a lot of time following up with customers on how they wish to have their funds handled and put the same in writing. 

Well, worry no more! Watch this tutorial by John M. Donovan as he devises an approach on how A/R teams should handle these funds to avoid misunderstandings, disputes, future reconciliation issues, and A/R instability. 

In this 20-minutes course, John will cover:-

i) How implementing documentation consistency can help resolve the issue of unidentified remittances

ii) How to encourage various internal teams to collaborate with each other to standardize the remittance process

iii) How to set-up a definite workflow process for investigating unidentified receipts
   
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

 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 #13 (~2 Mins)
  • Preview
    Introduction to Challenge #13
  • 3 Major Reasons Behind Payment-Invoice Scenarios (~ 3 Mins)
  • 3 Major Reasons Behind Payment-Invoice Scenarios
  • 3-Step Process to Check on Pending Transactions (~4 Mins)
  • 3-Step Process to Check on Pending Transactions
  • 6 Ways to Handle the Unidentified Remittances (~4 Mins)
  • 6 Ways to Handle the Unidentified Remittances
  • 8 Ways to Evaluate Your Remittance Processing System (~4 Mins)
  • 8 Ways to Evaluate Your Remittance Processing System
  • 10 Initiatives to Standardize Your Remittance Processing System (~ 6 Mins)
  • 10 Initiatives to Standardize Your Remittance Processing System