Chortek recently assisted a customer with importing large volumes of cash receipts from their bank, freeing up hundreds of hours per year.
The customer’s bank receives payments in a lockbox and sends scanned copies of checks to our customer. In the past, our customer used the check images as their source to manually enter the cash receipts into Sage 100, typically requiring one full day to complete on a high volume day. (Deposits range from approximately $50,000 – $300,000 per day.)
The bank was able to provide a file of this data (customer, invoice, check number, amount, distribution, etc.) and Chortek developed a ‘smart’ validation/import process for this file. The validation process attempts to “clean up” data from the bank’s data entry personnel and matches invoices to customer IDs even if the customer did not provide their ID on the check stub.
The customer now only spends time cleaning up miscellaneous issues from customer payments and they are saving hours every day with their streamlined cash receipts process.