The interface to financial accounting ensures that multiple document entry is mostly eliminated. A separation between treasury and financial accounting activities is ensured. Accounting work can be executed separately from treasury activities exclusively in the financial accounting module.
Account assignment in the Treasury
Cash Management transactions are allocated to corresponding account assignments. A standard business transaction is automatically linked to each transaction, which establishes the link to the chart of accounts by means of one or more posting functions.
Other business transactions can be set up with the standard function ‘DispoArten’ (Cash Flows) in the Treasury module and the associated Dispo Rules (with scan/analysis functions of the camt.053/MT940 messages). Each automatically generated account assignment can be revised or updated (e.g. cost centres, projects, etc.).
Account assignment in the accounting financial department
magnet™ first assigns each business transaction to a client-specific standard batch. The accounting department creates a booking folder from the standard batch with all transactions ready for booking. The booking batches can be edited using the financial accounting assignment screen.
The bookings are checked and revised in the booking batches. With the booking run, the logical booking records are transferred to a booking file per client. The interface transfers the data in ASCII format or as a web service to the general ledger.
There are standard interfaces to: SAP, CS/2 Wilken, MS Dynamics AX/NAV, Abacus, Sage, Ifas etc.
Debtor payments as camt.053/054/MT940 bank messages can be processed into a payment file with a high rate of hits by means of automatic reconciliation of the debtor open item list. This file can be imported into the accounts receivable accounting.
Based on booking rules and filters, which are defined individually, the customer payments are selected and checked for plausibility. These rules include invoice and customer numbers, booking texts, etc. In order to enable a clearing of open items, the open item lists, enriched with further customer master data (e.g. payment conditions, etc.), are transferred from the accounts receivable accounting in a daily batch run (upload). ‘DebtorMatch’ compares the information found in the electronic bank account statement with the current open debtor item list. Cash discounts and permissible deviations are checked and taken into account. The payment amount does not always match with the invoice document. In practice, payment instructions may be missing or incomplete. The customer may pay several invoices and make permitted discount and non-tolerated deductions in different combinations. Therefore, the electronic reconciliation run may be repeated several times. The user also has the option of manually intervening in the process to improve the result. Because the success rate of fully automatic matching is exceptionally high, there remain relatively few cases open for manual follow-up.
This set-up ensures that all account statements are processed without gaps after the process is completed. The produced ‘customer payment file’ is subsequently read into the accounts receivable accounting.