Date: 05.15.2023

To enable users to make more informed decisions and optimize their financial planning, Centime has introduced cash flow impact graphs in the Manage Payables and Manage Receivables solutions that allows the user observe the real-time impact of their AP and AR activities on their cash flow.

What's new:

Article Content:

• New Features in 2.27:
  • Feature 1: Cash flow impact graphs in Manage Payables and Manage Receivables
  • Feature 2: Payment options for ‘Other’ payment method in Manage Payables
  • Feature 3: Notifying the Supplier when an invoice is fully paid via credits
  • Feature 4: Notification to the Supplier when invoice payment is paid outside of Centime
  • Feature 5: Notification alerts for the user when invoice payment is rejected by the payment approver
  • Feature 6: New table for all tabs in Manage Payables
• Fixes in 2.27:

New Features in 2.27:

Feature 1: Cash flow impact graphs in Manage Payables and Manage Receivables

Details:

1. Users can now view two new cash flow impact graphs ‘Cash impact bars’ and ‘Cash impact waterfall’  in their Manage Receivables and Manage Payables dashboards 
2. The cash impact graphs display the cash-in and cash-out amounts as bars and the day's closing balance as the trendline. 
3. The cash-in portion consists of cash inflows as part of AR and other cash inflows. Similarly, the cash-out portion consists of cash outflows as part of AP and other cash outflows.
4. For Manage Payables users:
   1. When the user changes the payment method, payment date, or payment amount for an invoice, the impact of the change on the cash flow is recorded in the graph by fluctuations of the outflow bar for a date or the introduction of a new bar for the modified payment date. When the payment method is changed to a credit card, the outflow is negated for the payment date. When the payment method is changed from one credit card to another, the cash outflow is adjusted for the payment date.

• Cash flow impact graphs in Manage Payables:

• Cash flow impact bars graph in Manage Payables:

• Cash flow impact waterfall graph in Manage Payables:
  

    5. For Manage Receivables users:

1. When the user modifies the expected payment date for an invoice, a corresponding change is reflected in the Cash impact bars and Cash impact waterfall graphs. 

• Cash flow impact graphs in Manage Receivables:

• Cash flow impact bars graph in Manage Receivables: 

• Cash flow impact waterfall graph in Manage Receivables:

• Permissions required to access these features:

Feature 2: Payment options for ‘Other’ payment method in Manage Payables

Details:

1. Users can now specify the payment method under the ‘Other’ payment options in Manage Payables.
2. Users can add the desired form of payment from the ‘Other Payments’ section of the ‘Payment Settings’ tab in the Manage Payables in the Settings menu.
3. Users will have to specify the method of payment and will then have to identify a GL account to save this preference.
4. When making an invoice payment, the user will have to choose ‘Other’ under the payment method and then specify the payment method from the account drop-down.

NOTE: Since payment methods under ‘Other’ are considered Offline payment methods, users will have to mark these invoices as paid manually.

• Permissions needed to access this feature:

Feature 3: Notifying the Supplier when an invoice is fully paid via credits

Details:

1. In Manage Payables, when the user makes an invoice payment fully via credits, a remittance email reflecting the same will be sent to the Supplier.
2. Under the Supplier side-panel menu, the user should have toggled the setting ‘Send remittance after payment has been initiated’.
3. The payment method and payment reference on the email will be set as '-' and the credit or discount details will be included to indicate the full amount of payment via credits.
4. If the user has added notes while making the invoice payment on Centime, the notes will be included under the ‘Remittance notes’ section of the email.

Sample remittance email to the Supplier:

• Permissions needed to access this feature:

Feature 4: Notification to the Supplier when invoice payment is paid outside of Centime

Details:

1. In Manage Payables, when the user marks an invoice as paid using the ‘Mark paid’ action, an email with the remittance details will be sent to the Supplier.
2. This email will only be sent when the setting ‘Send remittance after payment has been initiated’ is toggled on for the Supplier.
3. This will be applied for payments made outside of Centime such as credit card, FX payments, or other payments. The remittance email will list the payment method applied when marking the invoice as paid. In the case of FX payment,  the amount will be shown in the transaction currency.

• Permissions needed to access this feature:

Feature 5: Notification alerts for the user when invoice payment is rejected by the payment approver

Details:

1. In Manage Payables, when a scheduled invoice payment is rejected by the payment approver, the payment scheduling user will now be notified of this rejection via an in-app notification as well as an email.

Sample in-app notification:

Sample email notification:

2. The scheduling user will receive an in-app notification with a ‘Review’ CTA that navigates the user to the Manage Payables solution with a ‘Rejected’ filter applied for invoices under the ‘Pay’ action, to enable the user to identify the rejected invoices easily. This journey is similar to when the user clicks on the ‘Review’ button in the email.

• Permissions needed to access this feature:

Feature 6: New dynamic table for all tabs in Manage Payables

Details:

Users can now access the new dynamic table for all the tabs in Manage Payables.

The dynamic table lets the user adjust the desired column width, freeze the header and add a custom filter to every column present in the table.

Users can click on the table header to sort the column, resize an individual column or the column width of the entire table.

For columns with text values (name, payment method or status etc.) users can input the filter criteria in the text box and choose a filter to apply for the column. Similarly, for columns with numeric values, user can input a value and then apply the filter corresponding to the value.

Applying filter to a text column:

Applying filter to a numeric column:

Users can also drag and reposition columns as desired.

• Users with access to the Manage Payables solution can access this feature

Fixes in 2.27:

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