Cash & Liquidity ManagementCash ManagementNetting/PoolingCoprocess Adds Reconciliation to Netting

Coprocess Adds Reconciliation to Netting

Coprocess has launched version 3 of its netting system. The new version adds a reconciliation module on to the existing netting platform to allow corporates to use the system both for intercompany netting and for month end reconciliation.

The previous version allowed for the upload of both accounts payable (A/P) and accounts receivable (A/R) items, in addition to the matching, discussion and dispute of these items. As well as reconciliation, version 3 also allows the linking of the invoice to a scanned image of the invoice.

“Frequently an intercompany invoice is not paid because it is not booked on the A/P side,” explained Andrew Goldie, managing director of Coprocess. “If you can link the invoice in the netting to a scanned image of this invoice then this reason loses veracity. The company’s analysis shows that on average 80% of mismatches at month end are either from non-booked A/P items or non-approved A/P items.

“In either case the ability to link to an image, to match and discuss the invoice online can greatly reduce the number of mismatches at month end,” said Goldie. “Because our netting system already allowed for the upload of intercompany A/P and A/R items directly from the ERP [enterprise resource planning] and the automatic matching, it was a relatively simple and logical step to make this work for all open intercompany items on the sub ledgers not just those that were going to be settled in the netting.”

Related Articles

Working Capital Index highlights problem of trapped liquidity

Cash Management Working Capital Index highlights problem of trapped liquidity

2w Jay Ashar
Corporate treasurers’ risk management priorities and hurdles revealed

Cash Forecasting Corporate treasurers’ risk management priorities and hurdles revealed

3w Austin Clark
The value of virtual accounts

Cash Management The value of virtual accounts

3w Aaran Fronda
Xero Stripe and PwC bring seamless payments to small businesses

Accounts Receivable Xero Stripe and PwC bring seamless payments to small businesses

4w Jay Ashar
How Trek Bicycles enhanced its global operations while mitigating payment fraud

Case Studies How Trek Bicycles enhanced its global operations while mitigating payment fraud

2m Austin Clark
Fed looks to expand financial institution definition

Netting/Pooling Fed looks to expand financial institution definition

2m Jay Ashar
Working capital finance provider receives big money backing

Cash Management Working capital finance provider receives big money backing

2m Jay Ashar
US firms treasured cash at a slower pace

Cash Management US firms treasured cash at a slower pace

3m Jay Ashar

Whitepapers & Resources

TIS Sanction Screening Survey Report

Payments TIS Sanction Screening Survey Report

1w
Sanction Screening: The risk for companies is real

Payments Sanction Screening: The risk for companies is real

2m
Enhancing your strategic position: Digitalization in Treasury

Payments Enhancing your strategic position: Digitalization in Treasury

2m
Are You Ready to Implement your GRC Solution?

Are You Ready to Implement your GRC Solution?

3m