Cycom Cash Management

Cycom Cash Management

Cycom Cash Management is a comprehensive multi-currency Accounting sub-module
6.3 (See all)

Cycom Cash Management is a comprehensive multi-currency Accounting sub-module. It facilitates the processing of cash transactions and allows bank accounts to be reconciled, either by entering bank statements into the system or by processing bank statement transactions provided electronically. It handles and properly accounts for post-dated cheques, processes cash receipts and bank deposits.

Main Features :

- Fully integrated—Cycom Cash Management is fully integrated with Cycom Financial Management System and other Applications.

- Multi-company processing—a three-character code is used to identify each company, allowing you to hold many companies’ accounts on the same platform.

- List of values—the pop-up list of values allows you to easily find accounts and other codes.

- Cash Received handling—allows the processing of four different types of cash receipts.Cheques, cash, remittance advices, credit cards.

- Post-dated cheques—the system allows the management and processing of receivable postdated cheques with comprehensive reporting facilities on cheque status, cheque chronological analysis, customer ageing analysis and customer statements which include post-dated cheques by users.

- Receipts printing and automatic allocation—the system provides for online printing of cash receipt documents and the automatic allocation of cash received against invoices during the cash receipts entry function.

- Posting of receipts—automatic generation of the receipt journal and posting to the accounting system based on either receipt date or cheque’s due date.

- Posting of receipts method—posting of receipts may be generated either during the receipts function or during the deposits function. This is to allow for the different treatment of post-dated cheques by users.

- Posting of deposits—automatic preparation of the deposit journals and posting to the accounting system.

- Deposit slips—the system prepares the deposit slip for both cash and cheque deposits according to the format types of the various local commercial banks. It will also automatically generate the corresponding accounting transactions.

- Reversal entries—automatic preparation of the reverse accounting entries in the case of returned, cancelled and non-deposited cheques.

- Account reconciliation—comprehensive account reconciliation facilities are available using three different methods

- Electronic Bank statement Import—facility to import account transactions electronically for easier and faster reconciliation of accounts.

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