As an end-to-end solution for streamlining and automating vendor payment and bank account reconciliation processes, Continia Payment Management offers considerable benefits to virtually any business.
Built on a modular basis, it can be customized to suit your particular business needs. Each of the modules that it’s divided into represents an area of functionality, and you can choose to add any modules you want. You add these using the initial setup guide, which you can access straight from your Role Center.
Below you’ll find a description of each of the modules, along with an overview of their respective features.
With the mandatory Essential module, you get all the basic features you need to validate and export your payments, thereby ensuring that they comply with the requirements of your bank.
The Essential module includes the following key features:
|Support for Direct Debit for Rabo Bank, ING Bank, and ABN Amro|
|Detailed validation of all payments in accordance with bank requirements|
|Ability to make payments to various banks from the same payment journal|
|Unique payment reference for each payment, ensuring 100% correct reconciliation|
|Automatic creation of payment ID (generated from the OCR string)|
|Automatic summarizing of payments in the payment journal|
|Ability to manually summarizing payment lines in the payment journal|
|Ability to create and send notifications|
|Predefined setup for importing and exporting bank files|
|Ability to set up customer application rules, as a help to apply customer payments in the cash receipt journal|
|Payment history with an overview of the payment process from the moment the payment was created in the payment journal|
|Currency-dependent balance accounts|
|Assisted setup and validation of vendor payment information|
|Ability to pay employee expenses from the payment journal|
|Validation of payment information on vendor, purchase, and sales documents|
The Statement Intelligence module assists you in the process of applying statement lines with both closed and open ledger entries. Using the features of Statement Intelligence you are close to automating the reconciliation process to a maximum.
The Statement Intelligence module includes the following key features:
|Automatic reconciliation using user-defined search rules|
|Merging of bank account statement lines|
|Reconciliation of employee payments|
|Reconciliation of customer payments|
|Customer reconciliation search rules|
|Vendor reconciliation search rules|
|Employee reconciliation search rules|
|Rules specific to each individual bank account|
|Search rules for the identification of fixed payments, with auto-generation of ledger entries|
|Various features to ease the bank account reconciliation process|
The Direct Communication module enables you to automatically communicate and exchange payment details directly with your bank, eliminating the need to manually import and export payment and bank account files.
With the Direct Communication module, you get access to the following key features:
|Automatic import and export of payment files|
|Status files from your bank with information on the status of each payment (such as Sent, Received, Rejected, and Paid)|
|Automatic import of bank account statements|
IBAN Lookup makes it possible for you to automatically generate vendor bank account information based on IBAN numbers.
With the IBAN Lookup module, you get the following key feature:
|Automatic generation of bank account details based on IBAN numbers|