Matching of unallocated payment transactions
Responsibility
Matching of unallocated payment transactions
Work Process
- Login to SAP and extract the daily Incoming Payments Report
- Format the extracted report to display non-zero balance accounts
- Validate each account ID in SAP and SAP CRM to match the unallocated payment transactions
- If the validation is successful, the payments are allocated in SAP with the correct account ID
- Insert a note in SAP stating that transaction is completed
- If the validation is unsuccessful, then navigate to Outlook to search for remittance advice
- If a remittance advice is found, then notify the team to verify the remittance advice received
- If no remittance advice is found, then send an email to the customer requesting a remittance advice for the payment received
- Insert notes in SAP detailing the actions taken
- Repeat the process for each account ID in the Incoming Payments Report
Department
Finance Operations
Sub-department
Accounts Receivable
Domain(s) covered
Finance
Applications used
- SAP,
- SAP CRM,
- Outlook,
- Excel,
- Internet Explorer
Benefits
note
- Estimated annual savings of $100,000
- 75% reduction in processing time
- 100% accuracy in data entry and extraction
- Redeployment of human employees to more value-adding work
- Decreased cycle time and rework
- Reduced operations costs
- Improved standardization of the end-to-end process