Johannesburg, 12 Jun 2024
Peresoft has launched new functionality for Cashbook, announcing True Automation for the EFTXpress and RecXpress modules.
The launch is a milestone for the company, with customers welcoming the time saving, efficiencies and security the automation brings to processes.
Peresoft founder Bobby Perel says True Automation in the latest Version 2024 Revision 1 release makes processes simpler, faster and more secure. “From seamless payment processing, automated payment posting and uninterrupted bank reconciliations, Peresoft now gives you the ultimate final product so you can concentrate on more important things that your business provides. Putting the accounting processes into the background with untroubled accuracy and efficiency, Peresoft’s True Automation will take that worry of completing your month-end into the past.”
True Automation ensures the bank and Cashbook operations work together seamlessly, minimising human intervention and manual entry, avoiding redundant data entry and preventing invalid user input.
EFTXpress allows organisations to upload EFTs directly to the bank, without having to log into the individual bank accounts and import files. The bank then processes it and uses the response file feature to send a response. Any errors in the error batch can be corrected and the payments posted again. The SFTP folder can be on a server hosted by either the client or the bank.
In the new release, an EFT timer feature automatically checks for the response file. It can also post multiple EFT batches simultaneously, set the time interval for auto posting, and set a limit for maximum attempts at auto posting.
For RecXpress, True Automation allows organisations to retrieve a provisional bank statement – daily, hourly, or even within minutes. “If you run the timer, it will automatically go and fetch the statements from all the bank accounts, and put them into a temporary file for processing. You can then search for date ranges and put them into RecXpress for reconciliation,” Perel says. A timer will update the customer’s account at selected intervals.
“The new features are incredibly powerful,” Perel says. “Now your computer can do the work for you using automatic retrieval of data, timers to process the data without human intervention and final reconciliations and allocations to the correct GL accounts, customer invoices and vendor payments without the user having to worry that the processing has errors. When it comes to the final reconciliation at the end of the month, the work has already been done for you.”
Perel adds: “Banks are waking up to the fact that without the accounting software playing a vital part in their services provided to their clients, automation will remain a pipe dream. Peresoft has stepped up to the plate to prove this final link that will interface the features provided by the banks to give the client a true automated process.”
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