‘Quick Wins’ Enhancements for IFM

Jim Boyer, Senior Consultant Jim Boyer, Senior Consultant

jim.boyer@cistech.netjim.boyer@cistech.net

Mike Taylor, VP SalesMike Taylor, VP Sales

mike.taylor@cistech.netmike.taylor@cistech.net

Agenda

1. Fast Cash2. Purchased Receipts not Invoiced3. Electronic Lock Box4. Electronic Funds Transfer

1. Fastcash -- Overview

• 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

• 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

– Prompt for deduction– Inquiry to open invoices– Post unapplied cash– Running totals

Fastcash -- Cash Receipt Entry

• 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

• Press Deduction Entity to display this prompt• May change entity• Reason code required

Fastcash -- Cash Invoice Inquiry

• 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

• 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

• 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

• 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

Fastcash -- Pricing and Implementation

2. Receipts not Invoiced -- Overview

• 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

• 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 for any GRN/PO or other Vendor ReceiptsReceipts.

• Can be run against receipts, and IFM Invoices, for anyany Fiscal Reporting Period (date sensitive and great for audits).

Receipts not Invoiced -- Features

• 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

•Item Class

•Vendor/PO/PO Date/Buyer

•Item Number/GRN

•Receipt Date

•Receipt Qty/Stocking UOM

•Receipt Value at Standard/Transaction Costs

•IFM Invoice Number for Receipt

•IFM Invoice Date

•IFM Charge Line PO/Ref Number for Receipt

•IFM Charge Line Quantity from Receipt

•IFM Charge Line Total Cost

•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

CISTECH AP PENDINGDETAIL AND SUMMARY

FILES AND REPORTS

CISTECH AP Pending ReportingCISTECH AP Pending ReportingGeneration EngineGeneration Engine

AP Pending Reporting with Paid/Un-Paid activity options.

SUMMARY AND DETAIL

Program Output

AP PendingAS400DetailFile

AP PendingAS400

SummaryFile

AP PendingAS400

ExceptionFile

IFM XA

FILES

IMTXN

HISTORY

CISTECH REPORTING PUTS IT ALL TOGETHER !!CISTECH REPORTING PUTS IT ALL TOGETHER !!

CONNECTS THE XA RECEIVING TRANSACTIONWITH THE IFM A/P INVOICE FOR A PARTICULAR RECEIPT.

VALIDATES THE CA-COST ADJUSTMENT BOOKED TOTHE COMPANY P&L ACCOUNTS !

CISTECH AP PENDING REPORTING

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!

ABC Mfg Company

XA IM RP TRANSACTIONSXA IM RP TRANSACTIONS XA IFM AP TRANSACTIONSXA IFM AP TRANSACTIONS

Receipt & Invoice

LET’S LOOK AT AN EXAMPLERP/PQ Receipt Transaction

1200 Raw Material Inventory $154,620.00

2001 Un-Invoiced Rec/AP Pending $-154,620.00

IFM API Transaction

2002 AP Clearing $168,120.00

2000 AP Trade $-168,120.00

Instant CA Txn Created for “I” AP Txns

2001 Un-Invoiced Rec/AP Pending $154,620.00

5100 PPV/Cost Adjustment $ 13,500.00

2002 AP Clearing $-168,120.00

The APP Report proves my entries !

Reporting Engine

F4

Reporting Engine

Output to Crystal, save as Excel

Receipts not Invoiced -- Benefits

• 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.

• IFM R6/7• License fee = $4,500

– Green Screen or PC based

• Technical installation/support = $1,200

• Implementation consulting services– 2 days on-site = $2,800 plus time and

travel expenses

Receipts not Invoiced Pricing and Implementation

3. Electronic Lockbox -- Overview

• 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

• Provides editing and transaction registers to ensure accurate posting

Electronic Lockbox -- Features

• 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• 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

• Reduce time and effort to process cash receipts

• Improve customer service with up to date account status

• IFM R6/7• License fee = $4,500• Technical Services

– Installation/support = $1,200– Tailor interface to import file = $600-

2,400

• Implementation consulting services– IFM Planning – 2 days on-site = $2,800 plus time and

travel expenses

Electronic Cashbox Pricing and Implementation

4. Electronic Funds Transfer -- Overview• 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

• 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• Provides creation of ‘Pre-notes’ for

additional instructions to the bank– Account Verification

EFT -- Features

• Generates ACH Bank file – Validation performed to ensure required

data– Error report provided– Inquiry available for details

• 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

• 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

• IFM R6/7• License fee = $4,500• Technical Services

– Installation/support = $1,200– Tailor interface to import file = $0-1,200

• Implementation consulting services– IFM Planning – 4 hour webex for training – $1,400

EFT- Pricing and Implementation

Agenda

1. Fast Cash2. Purchased Receipts not Invoiced3. Electronic Lock Box4. Electronic Funds Transfer

IFM Tools Next Steps

• Schedule your implementation

Or…..

• Follow up discussion to define your specific needs

• Then, detailed demonstration to address those needs.

Questions or Questions or comments?comments?

Thank you!!Thank you!!