You can setup a synchronization between your CashCollect invoices and your Expected Transactions in Agicap. It will permit to:
Feed your Expected Transactions with CashCollect invoices to automate your forecast.
Leverage known historic payment delays to enhance forecast accuracy.
Let's see how you can do it and what it means 🔎
1. How to setup the synchronization between your invoices and expected transactions
In order to setup the synchronization, go to your Agicap application, in Banks and Integrations.
Go to the CashCollect integration, and activate it.
The synchronization is now active.
2. How does it work?
Every time you import an invoice in CashCollect, a corresponding expected transaction is created.
Once the synchronisation is activated, your expected transactions created in CashCollect will appear in your Expected transactions page, and in your cashflow forecast.
On your Expected transactions page, the operation appears as such:
Its label is "Client payment - (client name) - (invoice number)"
Its source is "CashCollection"
Once your invoice is paid :
When you mark your invoice as paid from the CashCollect interface, the corresponding expected transaction is deleted. In your forecast, the transaction of the client payment will appear.
👉 Warning : once the synchronization is activated, you will not be able to reconcile in Agicap the expected transactions coming from CashCollect invoices. You will have to mark them as paid in CashCollect or in your ERP.
3. Deactivate synchronization
You can always deactivate the synchronization between the CashCollect invoices and the Expected transactions. In that case, go to Banks and Integrations again.
👉 Warning : if you deactivate synchronization, all the expected transactions created from a CashCollect invoice will be deleted and your forecast will be impacted.
4. Improve forecast accuracy
By default, invoices due dates are used to create the Expected Transaction and feed the cash flow forecast. However, payment delays are frequent, it can significantly impact your forecast and your cash.
💡 Therefore, you can leverage CashCollect data and decide to take into account expected payment delays. The client average payment delay is an average of the time intervals between the due date and the payment date. The calculation is made client per client and based on the invoices that were paid over the last 6 months.
In order to activate the option, just go to the CashCollect setting page and turn it on.
