‘Quick Wins’
Enhancements for IFM
Jim Boyer, Senior Consultant
jim.boyer@cistech.net
Mike Taylor, VP Sales
mike.taylor@cistech.net
Agenda
1.
2.
3.
4.
Fast Cash
Purchased Receipts not Invoiced
Electronic Lock Box
Electronic Funds Transfer
1. Fastcash -- Overview
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Streamlines and Improves the Cash
Application Process
Provides additional capabilities to process
and track credits and deductions
Especially valuable when processing high
volumes of payments with large numbers
of credits or deductions
– Ie, Retail or large industrial customers
Fastcash -- Features
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Adds New Deduction Types and Reason
Codes to help categorize deductions
Allows multiple deduction types to a single
invoice
New Cash Receipt Entry screen designed
for managing credits and deductions
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Prompt for deduction
Inquiry to open invoices
Post unapplied cash
Running totals
Fastcash -- Cash Receipt Entry
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After entry of invoice or credit memo number, current balance is
displayed
Invoice/Credit Memo is then entered
Discounts are calculated and displayed
Warning message for duplicate invoice receipts
Invoice check for outstanding balance, held, or disputed status
Fastcash -- Deduction Management
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Press Deduction Entity to display this prompt
May change entity
Reason code required
Fastcash -- Cash Invoice Inquiry
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Available Inquiry into outstanding Invoices/Credit Memos
Transaction entry for items on this screen
Toggle View by Open Invoice # or Packing List #
Invoice check for outstanding balance, held, or disputed status
Fastcash -- Batch Controls
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View Check Summary provides deposit control totals
•Includes System Calculated Totals
Toggle View by Open Invoice # or Packing List #
Invoice check for outstanding balance, held, or disputed status
Fastcash -- Benefits
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Reduced effort and improved efficiencies
of cash application process
Improve profitability by identifying
unauthorized deductions
Improve customer service with ongoing
reconciliation of account status
Quickly identify trends in deduction type
enables root cause analysis
Fastcash -- Pricing and Implementation
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IFM R6/7, green screen or IWP
License fee = $4,500
Technical installation/support = $1,200
Implementation consulting services
– 2 days on-site = $2,800 plus time and travel
expenses
2. Receipts not Invoiced -- Overview
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Effectively manages reporting
requirements for purchased items that
have been received into inventory, but
have not been invoiced by the vendor
Consolidates information to provide fast
and accurate reconciliation of:
– Un-invoiced receipts accrual account
– AP Clearing Account
Receipts not Invoiced -- Features
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Review un-invoiced warehouse inventory
receipts in numerous sort and run-time
options.
Review any Plant’s Warehouse Inventory
Receipts or IFM AP Charge Lines for any
GRN/PO or other Vendor Receipts.
Can be run against receipts, and IFM
Invoices, for any Fiscal Reporting Period
(date sensitive and great for audits).
Receipts not Invoiced -- Features
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Documents impact to AP Pending Liability
Account by providing detail for Material
Receipts and corresponding offsets caused
by IFM Invoicing and CA Transactions.
Enables reconciliation of AP Pending and
un-invoiced receipts liability accounts
‘Input’ Data Fields
The Receipt Fields
The IFM Fields
• Receipt Warehouse
•IFM Invoice Number for Receipt
•Item Class
•IFM Invoice Date
•Vendor/PO/PO Date/Buyer
•IFM Charge Line PO/Ref Number
for Receipt
CISTECH
AP
PENDING
•Item Number/GRN
•IFM Charge Line Quantity from
DETAIL
AND
SUMMARY
•Receipt Date
Receipt
•Receipt Qty/Stocking UOM
•IFM Charge Line Total Cost
FILES
AND
REPORTS
•Receipt Value at
Standard/Transaction Costs
•IFM Variance (CA Amount) to IM
•Last Payment Date
•IFM Check Number last payment.
INVENTORY
RECEIPT
DATA FROM XA IM
INVENTORY IFM
CHARGE LINE FOR
RECIEPT AND VARIANCES
Program Output
IFM
XA
FILES
IM
TXN
HISTORY
CISTECH AP Pending Reporting
Generation Engine
AP Pending
AS400
Detail
File
AP Pending
AS400
Summary
File
AP Pending
AS400
Exception
File
AP Pending Reporting with
Paid/Un-Paid activity options.
SUMMARY AND DETAIL
CISTECH REPORTING PUTS IT ALL TOGETHER !!
ABC Mfg Company
Receipt & Invoice
XA IM RPLET’S
TRANSACTIONS
IFM IFM
APAPI
TRANSACTIONS
LOOK AT AN XA
EXAMPLE
Transaction
RP/PQ Receipt Transaction
1200 Raw Material Inventory $154,620.00
2002 AP Clearing $168,120.00
2000 AP Trade
$-168,120.00
2001 Un-Invoiced Rec/AP Pending $-154,620.00
CA Txn Created for “I” AP Txns
CISTECH AP PENDINGInstant
REPORTING
2001 Un-Invoiced
Rec/AP Pending $154,620.00
CONNECTS THE XA RECEIVING
TRANSACTION
The APP
Report
WITH THE IFM A/P INVOICE FOR
PARTICULAR
RECEIPT. $ 13,500.00
5100APPV/Cost
Adjustment
THE
CA-COST ADJUSTMENT BOOKED TO
proves myVALIDATES
entriesTHE
! COMPANY
2002ACCOUNTS
AP Clearing!
$-168,120.00
P&L
IM Receipt Detail linked to IFM Invoice Transactions reveals the CA Variance Amounts and QUICKLY ANSWERS VARIANCE
QUESTIONS and quickly proves what went INTO and what was moved OUT OF the AP Pending Accounts!
Reporting Engine
Reporting Engine
Output to Crystal, save as Excel
Receipts not Invoiced -- Benefits
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Quickly reconcile MAPICS un-invoiced
receipts liability account
Enable accurate balance sheet
representation of asset and liability
accounts
Minimize large adjustment transactions
Ensure compliance with internal and
external audit requirements.
Receipts not Invoiced
Pricing and Implementation
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IFM R6/7
License fee = $4,500
– Green Screen or PC based
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Technical installation/support = $1,200
Implementation consulting services
– 2 days on-site = $2,800 plus time and travel
expenses
3. Electronic Lockbox -- Overview
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Streamlines and Expedites Cash Receipts
processing by importing to IFM:
– Invoice listing provided by customers, for
multiple invoices typically paid on one bank
draft
– Bank Lockbox deposits of invoice payments
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Provides editing and transaction registers
to ensure accurate posting
Electronic Lockbox -- Features
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Transfers data from the bank/customer
file into a work file
– Edits to ensure valid entity number
– Check totals
– Maintenance enabled for correcting entity,
items can be deleted
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Provides editing and transaction registers
to ensure accurate posting
Data Imported into IFM Cash Receipts for
matching and posting to the GL
Identify and Transfer the File
Edit Report and Batch Totals
Sample Edit Report – Totals
Lockbox File Maintenance
Invoice Inquiry and Editing
Post Records to IFM
Electronic Cashbox -- Benefits
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Reduce time and effort to process cash
receipts
Improve customer service with up to date
account status
Electronic Cashbox
Pricing and Implementation
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IFM R6/7
License fee = $4,500
Technical Services
– Installation/support = $1,200
– Tailor interface to import file = $600-2,400
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Implementation consulting services
– IFM Planning
– 2 days on-site = $2,800 plus time and travel
expenses
4. Electronic Funds Transfer -- Overview
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Provides Electronic Distribution of
Accounts Payable payments
Enhances the IFM EFT process by
providing editing and ‘pre-note’
capabilities
Creates ACH formatted file and extracts to
IFS Drive for transfer to your bank
EFT -- Features
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Process starts after regular IFM approval
process
IFM setup provides vendor settlement
method and account number
‘Pre-Transfer’ Validation and Editing
ensure accurate transfer transactions
– Edit reports document transactions
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Provides creation of ‘Pre-notes’ for
additional instructions to the bank
– Account Verification
EFT -- Features
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Generates ACH Bank file
– Validation performed to ensure required data
– Error report provided
– Inquiry available for details
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Transfers Bank file to IFS drive for
transmission to bank
– File is available for e-mail or further
processing for automated communication to
the bank
EFT – IFM Setup
•Must also complete IFM Vendor Setup for
bank and routing information
EFT – Pre-Extract Edit
EFT – Add ‘Pre-Notes’
•Multiple Pre-Notes can be added
EFT – Generate Payment Transfer
EFT – Transfer file to IFS Drive
EFT – Transaction Inquiry
EFT -- Benefits
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Reduce administrative time and effort to
process checks
Reduce cost of checks and postage
Streamlined payment process can help
capture terms discounts
Audit reports provide documentation of
transactions
Integration with IFM enables no duplicate
data
EFT- Pricing and Implementation
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IFM R6/7
License fee = $4,500
Technical Services
– Installation/support = $1,200
– Tailor interface to import file = $0-1,200
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Implementation consulting services
– IFM Planning
– 4 hour webex for training
– $1,400
Agenda
1.
2.
3.
4.
Fast Cash
Purchased Receipts not Invoiced
Electronic Lock Box
Electronic Funds Transfer
IFM Tools Next Steps
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Schedule your implementation
Or…..
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Follow up discussion to define your
specific needs
Then, detailed demonstration to address
those needs.
Questions or
comments?
Thank you!!