Small Write-Offs

Overview

Our Sage Intacct extension automates the identification and processing of small outstanding amounts on invoices, generating payments to balance accounts. This feature is particularly useful for handling minor discrepancies due to bank transactions or foreign exchange conversions. 

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Key Features

Key Benefits include:

• Automated Identification: The extension reads outstanding amounts on invoices and identifies small discrepancies. 

• Penny Payments: Automatically generates “penny payments” to address minor discrepancies, ensuring accounts are balanced. 

• Full Reconciliation: These payments fully reconcile and close the invoice, maintaining accurate financial records. 

• Adjustable Thresholds: Set adjustable thresholds for identifying small amounts eligible for write-offs, allowing for flexibility based on business needs. 

• Automated Payment Records: Automatically creates small payment records, reducing manual effort and improving efficiency. 

• Ledger Matching: Ensures full matching of payments against invoices to balance the ledger accurately. 

Dynamic Criteria

• Customisable Settings: The process can be customised based on specific locations, customer accounts, or payment accounts. 

• Multiple Instances: Multiple instances of this process can be executed simultaneously, each with different criteria to cover various scenarios. 

• Scenario-Based Thresholds: The rounding threshold can be set on a scenario basis, providing tailored solutions for different business situations. 

Key Benefits

• Efficiency: Reduces manual effort in handling small discrepancies, saving time and resources. 

• Accuracy: Ensures accurate financial records by fully reconciling and closing invoices. 

• Flexibility: Adjustable thresholds and customisable settings allow for tailored solutions to meet specific business needs. 

• Scalability: Supports multiple instances and scenarios, making it suitable for businesses of all sizes. 

Interested in adding Small Write-Offs?

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