Scheduled Cash Collection is an Add-On for Microsoft Dynamics GP developed to enable the processing of Cash Collections from either schedules defined against the invoice in the Microsoft Dynamics GP Sales Order Processing module or from invoices entered into the Microsoft Dynamics GP Receivables Management module.
The Scheduled Cash Collection process within the Microsoft Dynamics GP Sales Order Processing module allows the entry of a schedule of payments. The customer is sent one invoice with a collection schedule. The collection schedule allows you to specify the frequency and the value that the collections will be made.
The Scheduled Cash Collection process within the Microsoft Dynamics GP Receivables Management module allows the collection of outstanding or due values on the Sales Ledger for customers who are setup to be processed by electronic collection.
The collection process enables the user to specify a range of customers and document number and a date to process up to. All customers and documents which fall due up to the specified collection date and have been setup to be processed by electronic collection will be processed and a cash receipt will be created, applied to each invoice or all invoices for the customer. On posting the cash receipts, a fi;le is created in the specific bank format for transmission to the bank for collection.
Scheduled Cash Collections assumes successful collection by the bank. Where this is not the case and the collection fails due to a problem with the customer’s account, the cash receipt may be voided on Microsoft Dynamics GP and the invoice will then be unapplied and ready for collection on the next run. This has been designed in such a way as the failure of a collection is the exception rather than the rule, showing voided collections provides an audit trail of failed collections and it also prevents collections being made that are not properly accounted for on the Receivables Management module
