Advanced Remittance allows you to streamline your supplier reconciliation and payment process within your Sage ERP.
A manual supplier reconciliation can be a lengthy and cumbersome process. The lack of integration means that once a manual reconciliation and remittance process is finished, payments still need to be captured. Advanced Remittance is integrated into Sage X3 or Sage 300 and enables you to collate all outstanding invoices in one place, balance back to the supplier statement, and capture the payments in the Sage ERP.
The module follows four main steps:
1. Capturing the supplier statement and reconciling against this
2. Creating a remittance
3. Approving remittances for payment
4. Batch payment
The user may choose to reconcile by a site or by a company and reconciliation amounts dynamically change based on reconciled transactions, and reconciliation notes. They can choose to pay outstanding documents, or short-pay, or not pay at all. They also have the option to make manual adjustments for irreconcilable differences.
Once the reconciliation is completed, the user can create a remittance by marking items as ready for payment and allocate a payment date. Any credit notes applied to invoices will show under the applied detail.
For the remittance approval process, the system has several filters which will assist you to find the relevant remittance depending on site, supplier, dates etc. The remittance payment can be done by site or company i.e., combining multiple sites. During this step, you can select a single remittance or multiple remittances for payment.
The Advanced Bundle comes with pre-built SynergERP reports that can easily be altered to match the client’s needs and show in-depth reconciliation and remittance information.
Advanced Remittance Module Overview