Home Acumatica Marketplace Payment, Settlement and Reconciliation Module

Payment, Settlement and Reconciliation Module

Advanced Solutions and Consulting Co

The Payment, Settlement & Reconciliation (“PSR”) module automatically reconciles bank deposits with associated payment files (from credit card processors, Amazon, PayPal & eBay, etc.) and matches these deposits/payments with corresponding invoices & credit memos generated in Acumatica. PSR supports transmission protocols and dissimilar fee structures associated with various payment sources. Users agree the PSR module saves many manual hours of work daily by automating the complex and extremely time consuming processes required to close invoices and reconcile their payments and fees with bank deposits. Thousands of keystrokes automated!

Payments made via Web sites and 3rd Party Portals, e.g. Amazon, PayPal, etc. are very time consuming to reconcile in ERP accounting. The Advanced Solutions “Payments, Settlement and Reconciliation” (PSR) module automates this process -- dramatically reducing the number of hours/days required of staff to perform this necessary accounting function.

Complex and (here-to-fore) time-consuming processes required to close Acumatica generated invoices and reconcile their associated bank deposit (less merchant fees) for orders paid via credit card and e-payments. There are many payment types/sources for e-commerce sales including banks and processors, PayPal, Amazon and eBay. Each support different transmission protocols and dissimilar fee structures. Also, within the Acumatica Banking screens/processes there are many steps required for closed-loop accounting. Developed in partnership with AcuCode,

Dramatically Cuts Time To Settle & Reconcile Ecommerce Related Payments. The PSR module reduces hours (and hours) of work to minutes. Allocates Accounting Personnel to High Value Activities, Reduce Errors. PSR is a perfect application for computer programming, speed and accuracy. Expensive accountants are freed to focus on high value activities. Evaluates the cost(s) of Bank & Processor Fees. PSR processes in “bulk” but provides detail on merchant fees. Transaction costs may be evaluated to determine more favorable alternatives (or price options to maintain margins). Close books much quicker because PSR is automated. PSR eliminates a time consuming activity dramatically reducing the time to realize month, quarter and year-end results. Users have instant access to exceptions.

Industry Served:
Cross industries

Key features

  • Dramatically Cuts Time To Settle & Reconcile Ecommerce Related Payments

  • Often moderate & high volume eTailers must allocate an FTE equivalent to reconcile Ecommerce & Portal related payments

  • Configurable tool performs auto-matching and settlement in one pass

  • The PSR module reduces hours (and hours) of work to minutes

  • Automates the Complex Functions Associated with Settlements

  • Different processors, banks and funding sources maintain different business practices

  • Visibility transaction in Acumatica regarding payments & reconciliation Compatible w/ existing Acumatica banking RPTs

  • Evaluate The Cost(s) of Bank & Processor Fees

  • PSR processes in “bulk” but provides detail on merchant fees

  • Transaction costs may be evaluated to determine more favorable alternatives (or price options to maintain margins)

  • Close Books Much Quicker Because PSR Is Automated

  • PSR eliminates a time consuming activity dramatically reducing the time to realize month, quarter and year-end results

  • Accommodates Multiple Payment Services and Dissimilar Fee Practices

  • Users have instant access to exceptions

  • 100% Acumatica. Seamless to the application and database

  • Compatible with existing Acumatica banking reports

  • Written in the Acumatica xRP Framework (Microsoft .NET Visual Studio)

  • Upgrade compatible

About Advanced Solutions and Consulting Co

Advanced Solutions & Consulting Co. (ASC) is a founding Acumatica VAR with MVP status. We deliver ISV solutions that save serious time and money for supply chain and accounting applications. Our solutions are written in native Acumatica xRP. They address complex ERP requirements extending Acumatica’s market breadth and competitiveness. ASC augments Acumatica with elegant solutions that monitor and automate ERP functions to improve Acumatica’s competitive landscape and save customers (and their VAR’s) serious time and money.

Get Contact Details

Resources

Product Data Sheet: PSR

Screenshots

Great opportunities for developers
and software companies

Become an ISV Partner Acumatica Cloud xRP Platform