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The C/LECT® Cash Preprocessor

The C/LECT ® Cash Preprocessor (CCP) automates cash application. The CCP processes cash and remittance data automatically for any size dollar and transaction volume company on all Accounts Receivable Systems and platforms. The CCP is installed on your computer, sized to your environment and tailored to your exact business specifications.

• Modular

  The CCP is a modular system which has many unique options that best suit your environment. The modules include customized rules for processing Lockbox payments, EDI / EFT payments; data keyed or scanned remittance documents; credit and debit card payments; and proprietary payment applications. The CCP can also identify and apply cash using algorithm and statement balance processing.C/LECT ® also has a unique Billing Period module, developed for customers when no remittance detail is provided and the payments are based on specific billing periods.

  The CCP can process cash and remittance data received in any format.

• Customization

  The CCP is tailored to mimic your manual application process, including all subjective nuances. This includes: cash separation by enterprise, currency and account type; detail item matching based on partial invoice number or other referenced data (ERS); identification of deductions based on customer specific information; adjustments based on system, business and customer practices with decision tables at either the item or check level; and splitting of the cash and remittance data to multiple accounts or systems.

  The CCP will meet your exact requirements.

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Lockbox Processing:

• Algorithm Using Check Amount only

  • Apply payments using Algorithms that need only the MICR and check amount
  • Handle discount deductions automatically

• Account and Item Matching for Payments and Adjustments

  • Bank keys invoice number, net amount and discount amount
  • Apply items based on MICR or invoice number
  • Identify the account based on invoice number
  • Specialized deduction processing using the customers’ keyed reference number
  • Specialized lookup routines

• Adjustment Codes Based on Many Different Criteria

  • Specialized Processing for difficult applications
  • Adjustment overrides by customer, region or business group
  • Summarization at the check or account level
  • Multiple adjustments per invoice
  • Roll-up adjustments based on prefix/suffix information

• Specialized Adjustment Processing

  • Handle line item adjustment information passed in the BAI or 823 format
  • Specialized reports for any particular adjustment or nonpayment
  • Broker or region assignments based on comments or store information
  • Pass all information to separate deduction systems

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EDI 820 Processing:

• EDI Reception and Translation

  • Handle data from any EDI Translator in either its own format or mapped to our specs
  • A C/LECT ® EDI Translator program for complex remittances
  • An EDI Warehouse to match 820 remits to paper checks or separate EFT payments
  • An EDI Warehouse to hold future dated EFT payments

• Account and Item Matching for Payments and Adjustments

  • Apply items based on the trading partner or remittance name
  • Match to a specific account based on Duns or Duns Plus 4 number
  • Identify the account based on store number
  • Edited invoice numbers
  • ERS payments
  • Bill of Lading or Purchase Order lookup routines

• Adjustment Codes Based on Many Different Criteria

  • Specialized Processing for difficult applications (WalMart, Home Depot)
  • Conversion of customer EDI codes to your A/R adjustment codes
  • Adjustment overrides by customer, region or business group
  • Summarization at the check or account level
  • Multiple adjustments per invoice
  • Adjustment codes based on freeform comments

• Specialized Adjustment Processing

  • Handle line item adjustment information passed in the 820 format
  • Report freeform comments
  • Specialized reports for any particular adjustment or nonpayment
  • Broker or region assignments based on comments or store information
  • Pass all information to separate deduction systems

• Proprietary Remittance Processing

  • Handle ACH payments when remittances are sent in Excel or other formats
  • Web based Parse Remittance System which parses necessary remittance data (invoice number, discount amount, net amount) and formats it to upload to the CCP.
  • Handles proprietary applications in minutes
  • Uses same CCP rules for applying payments

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$85 Billion at 50 Companies for 15 Years

The C/LECT ® Cash Preprocessor (CCP) currently processes over Eighty-Five Billion Dollars of Cash and Remittance Details per year. It has an operational base of more than 50 companies, many among the Fortune 1000.

Getting Started

C/LECT ® Consulting provides an on-site random sample of your customers’ payment habits and how they are handled by your A/R system. A summary and statistical analysis is provided based on the sample findings, which lead to the recommended configuration of CCP modules and rules. By analyzing your environment, we can best prescribe the CCP options, expected hit rate improvement and detail of your potential cost savings.

C/LECT Consulting, Inc.
847-854-4523
info@clect.net

The C/LECT ® Cash Preprocessor can run on any platform and feed any A/R system that process batch payments with adjustments. In addition to EDI 820 processing, normal lockbox, specialized lockbox, remittance scanning, EDI 823 and proprietary payments can be processed by the CCP. As with all C/LECT ® Solutions, it is customized to your exact specifications.