What is AP/AR Netting?

The AP/AR bundle empowers organizations to streamline their accounts payable and receivables netting, eliminating reliance on Excel and manual efforts. The netting settlement includes essential details such as creation date, currency, and posting period.

This solution supports various classifications and custom segments, grouping netted transactions based on department, class, location, or custom segment specifications. It also maintains comprehensive AP/AR netting review details, including netting date, approval status, and links to related transactions and applied amounts. Also, Multiple invoices linked to one bill, and multiple bills linked to one invoice.

Key Benefits of AP/AR Netting

• Manage the complete netting cycle.
• Fully automated clearing settlements.
• Less manual effort.
• Automatic payment application for open invoices.
• Easy to find the maximum amount of nettable.
• Eliminates manual efforts.
• Flexible to define accounts.
• Create automated AP/AR network settlement transactions.
• Flexible advanced workflow levels.
• Real time reports.

Key Features of AP/AR Netting

• Efficiently manage the entire AP/AR netting cycle.
• Automate netting settlements for open AP and AR bills, including accounting impacts.
• Reduce manual effort reconciling, revaluing, and netting open AP/AR balances.
• Automatically apply payments to open invoices/bills with netting settlements, reflecting the general ledger impact.
• Easily identify the maximum nettable amount from both AP and AR sides.
• Eliminate manual processes and Excel work to track adjustments in open payables and receivables.
• Customize default accounts for receivables and payables in netting reviews and apply advanced date filters for limited AP/AR transactions.
• Automatically create AP/AR netting settlement transactions with separate auto-numbering sequences for each netting.
• Configure advanced workflow levels for AP/AR netting settlement and review records.
• Access real-time reports for AP/AR netting settlements.

Reachware

Reachware is an integration platform in which many individual subsystems are combined into a single, larger system allowing the subsystems to work together. Reachware allows any SaaS systems such as NetSuite, Revel, Vend, Xero, Magento, Zed, Qoyod, Shiji PMS, or any other product to achieve the overall functionality required by the organization.

In most organizations there is a need to improve the efficiency and thus the productivity and quality of their operations, so their goal is usually to get the different applications and systems to communicate with each other to avoid the time and effort involved in manually operation with other systems of the organization. With Reachware, organization will see increased information flow speeds and higher process automation as well as lower operating costs.