Release v2.23 - New Features & Enhancements

Modified on Wed, 31 May 2023 at 09:45 AM

In this release, Centime has introduced the capability to group ACH or check payments for a supplier on a single payment date with an aim to enhance the overall efficiency of the payables process.


What's new:


SolutionFeature
Manage PayablesUsers can now choose to group ACH or Check invoice payments made on the same payment date for a supplier
Manage PayablesInvoices uploaded or emailed to Centime can now be coded at department, class, and location levels.
Monitor Cash and Forecast Cash FlowsExport enabled for cash flow table in Cash Flow Forecast solution

CONTENTS



Feature 1 : Grouping invoice payments

Solution: Manage Payables


Details:

Users can now choose to group invoice payments made by ACH or check to the same supplier on the same date.

  1. Users can now choose to group same-date invoice payments made to the same supplier via ACH or Check. 

  2. To enable this, new settings are introduced at the Supplier level in the Supplier side panel in Manage Payables as well as in the Payment settings in the Payables menu on the Settings page.


Settings on

Settings

Settings -> Payables -> Payment settings

Group payments to same supplier on same payment date’

Manage Payables -> Supplier name ->Payments ->ACH or Check

Group payments made on same payment date




  1. When the settings are toggled on, check or ACH invoice payments of the same supplier are grouped together if the payment date is the same. On confirmation, the scheduled payment is sent for approval from the payment approver.


  2. By default, these settings will be toggled on. Users can choose to toggle this off at the payment level or at the supplier level.

  3. Users can group invoice payments only when the invoices: 

    1. are from the same supplier

    2. Have the same payment date

    3. Have the same payment method and funding account

  4. With grouped payments, users can

    1. Apply/Remove credits for the underlying invoices 

    2. Apply/Remove discounts for the underlying invoices 

    3. Specify remittance notes for the underlying invoices

  5. Posting grouped payment invoices: 

    1. These payments will be posted as a single transaction to the General ledger. In case of a posting failure, to post these invoices users will have to select any one of these invoices and click on ‘Post’ in the ‘Paid invoices’ tab.

  6. Users cannot mark the group invoices as paid with the ‘Mark Paid’ action.

  7. For grouped invoices paid via check, the remittance details will include all the corresponding invoices in the check stub area.


Permissions required to access this feature:


Permissions in

Permissions title

Manage Payables

Schedule payments and manage the AP workflow (recall, mark paid, post)


Feature 2 : Department, location, and class coding for uploaded

Solution: Manage Payables


Details:

For capturing invoices with greater accuracy, additional coding fields of department, location, and class are introduced in the document viewer for an invoice in the Documents tab in Manage Payables.

  1. When an invoice is uploaded or emailed to Centime, additional details of department, location, and class will be captured if specified in the original invoice. Users can view these details in the document viewer as well as in the invoice accordion.


  2. QuickBooks Online users should be able to view their department and class fields for all captured invoices. Depending on how QuickBooks Online is configured, the department field in Centime will either populate location or department in the ERP. 

  3. QuickBooks Desktop users will be able to view the class field for all the captured invoices.

  4. NetSuite users will be able to view the department, location, and class fields for all captured invoices. 

  5. Users can set these fields as default for the desired suppliers by clicking on the ‘Set as default for this supplier’ setting under each of these fields. 


Permissions required to access this feature:


Permissions in

Permissions title

Manage Payables

Upload, process, and code documents


Feature 3 : Exporting the Cash Flow Table in the Cash Flow Forecast solution

Solution: Monitor Cash and Forecast Cash Flows


Details:

Users can now export their selection of the cash flow table in their cash flow forecast to a spreadsheet.

  1. Export table option is now enabled for the cash flow table in the Cash Flow Forecast solution.


  2. Filter selection of daily, weekly, and monthly as well as of operating or all accounts will be applied to the export data.

  3. For cash inflows and outflows, transactions will be consolidated under corresponding groups. If there are no groups, all transactions will be shown under the ‘Ungrouped’ category.


Permissions required to access this feature:


Permissions in

Permissions title

Monitor cash and forecast cash flows

View the cash flow forecast


Enhancements for 2.23

  1. For better access clarity, the following entitlements in Manage Payables are rephrased:


Existing 

Modified

Upload and review documents

Upload, process and code documents

Approve documents

Approve, reject or hold documents


Post documents to General Ledger


Set up and manage invoice approval policies


  1. A2A transfer entitlements are added to the user profiles in Centime Sandbox to duplicate the live application settings. This will be assigned to all new sandbox user profiles whereas, for existing client profiles, these entitlements will have to be assigned. 


If you want to know more about this release, please contact our Customer Success team at cs@centime.com.

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