How ERP system can help cash management

Jan. 17, 2011 - PRLog -- ERP offers two options for making payments. Firstly, the cheque feature allows you to print a cheque for a vendor immediately, but not against a specific bill, which is comparable to the bill centric payment cycle found in accounts payable.

It is possible for you to verify the transaction by attaching a support document. And secondly, it is possible for you to record and post cheque you write through a chequebook. The system can also smoothly handle the transfer of funds from one cash account to another.

You can examine the cash balance report to verify the balances of your account to determine if you need to make a transfer, and you can also check to see if there are sufficient funds.

With the ERP system in place, the received payments can be deposited in two ways. The receipt function records both the receipt of payment and its deposit if you have already deposited the payment.

You may also receive payments, accumulating them in an account for later deposit. At this point you can create a "deposit slip" on the system, which posts the amounts of the deposits.


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