February 2024: Cash Application Updates

We're excited to announce new enhancements to our Cash Application product that streamline payment processes and boost efficiency. These updates provide advanced tools and features to improve payment management and accuracy. Discover how these enhancements can benefit your operations below.

Feature Enhancements

Zoom Search, On-Accounts, and Split Snapshots

We've significantly enhanced the Cash Application product by introducing three new functionalities: New Zoom Search, enhanced On-Accounts, and innovative Split Snapshots. These updates replace older features, providing both existing and new clients with more robust and efficient tools, thus enhancing overall performance and user experience.

'Next Calendar Day' Pause Rule for Payment Release

To improve the flexibility and responsiveness of payment processing, we've added a new pause rule option: "Next Calendar Day after effective date." This rule allows for paused payments to be released to validation on the next calendar day, regardless of weekends or holidays, ensuring timely processing and reducing delays.

Advanced Match Rule for Ambiguous Payment Amounts

We've introduced a new match rule configuration to more accurately determine the amount to apply to an invoice when it isn't clear from the remittance document. This rule allows for automatic application of the discounted due amount if a discount is valid and has not expired. If no discount is applicable, or if the rule is not configured, it defaults to the invoice's due amount. This enhancement significantly improves the auto-validation rates, streamlining payment processing and reducing the need for manual intervention, thereby increasing efficiency for clients who utilize this match rule.

New Fund Unstructured Text Match Rule Enhances Payment Processing

We've introduced a New Fund Unstructured Text match rule designed to improve the accuracy of payment matching. This rule enhances the system's ability to search through payment fund data for usable match targets, even when the data cannot be readily parsed into a separate advice record. Ideal for clients with complex payment structures, this update significantly improves auto-validation rates by ensuring more accurate payment matching and processing.