What it is?

AP AR Netting enables you to settle mutual open balances across customer/Vendors. It will generate netting settlements, which reduce inaccuracies made through manually generated settlements. RW APAR bundle provides you with the power to eliminate excel and manual efforts from your company Accounts payable and Receivables netting. The netting settlement provides the creation date, currency and posting period. Supports all classifications and custom segments. If the netted transactions specify department, class, location or custom segment, it groups the lines in the netting settlement based on these classifications. It will maintain all relevant AP/AR netting review details (i.e., netting date, approval status) and provides a link to the related transactions and amount applied to that the transactions.

Key Benefits

• Manage the complete APAR netting cycle
• Fully Automated netting settlements on AP and AR open bills along with accounting impacts.
• Less manual effort spent in reconciling, revaluing, and netting open AP/AR balances
• Auto payment applied for open Invoices/bill with netting settlements. These netting settlements represent the general ledger impact of netting on each transaction.
• Easy to find the maximum nettable amount from each AP/AR side.
• Eliminates Manual efforts and excel workings to track Open Payables and Receivables adjustment.
• Flexible to select default Account receivable and payable accounts on netting review and advanced date filters to populate the limited AR/AP transactions.
• Automated AP/AR Netting Settlement transaction creation along with separate auto-numbering sequence for each netting.
• Flexible Advanced workflow levels on AP/AR netting settlement and review record.
• Real time reports for AP/AR netting settlements

Key Features

• 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

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.