Automated cash receipt and reconciliation processes have become necessary due to the majority of transactions now being electronic. AutoCash is a web application that interfaces with Coda to streamline these processes. It analyzes bank statements, posts cash documents to reconcile accounts, and matches payments to invoices in three steps: by loading statements into Coda, posting cash documents and reconciling accounts, and matching customers. It uses sophisticated logic and scripting to extract relevant information like customer numbers from statement narratives to fully automate reconciliation.

2. Technological advances in banking have
progressed in the last few years and now
the majority of cash receipts are electronic
( i.e BACS, CHAPS, Direct Debits, etc. ).
Although this is a major advancement it
causes headaches trying to automate the
processes in both the Accounts Receivable
and Treasury Departments.
Auto Cash is a web browser application that
resides on the Coda server and uses web services
to interface to the Coda application. This means
that the application can be accessed anywhere
in the world via VPN.

3. Autocash determines items on the statement that do not exist in Coda
and posts a document. Using Statement Processing it will automate
the following processes in a few simple steps:
1. Post the Cash document debiting the bank account in the Cash
Book and crediting the Customer in the Sales Ledger. As part of this
process Autocash also reconciles the cash book within Coda to the
electronic bank statement held within the Statement Tables
changing the status from “Available” to “Reconciled” and providing
a full audit trail.
2. Cash matching the Sales Invoice to the Payment document
changing the Pay Status in Coda from “Available” to “Paid”.
Both processes can be achieved in 3 easy steps with AutoCash:
1. Load electronic bank statement into Coda’s Statement Tables
2. Post cash documents and reconcile bank accounts
3. Match Customers
In order to achieve statement processing Autocash has sophisticated
logic to derive the customer number and outstanding invoices for
matching purposes.

4. Autocash analyses the bank statement and through sophisticated
scripts extracts relevant information for reconciliation purposes. For
example; embedded within the narrative could be a store number
or cost centre. Autocash can extract this information and post it to
an external reference field within the statement tables. This can
then be compared to transactions within Coda using the same
reference and automate the reconciliation based on value and
store number etc.