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On this blog we will cover stories from all around the Exact ecosystem.

Posts Tagged ‘payment’

Improved matching of advance payments when processing (online) sales orders.

Written by Jaap Jan de Lange on . Posted in Exact Online

Online sales often starts with an advance payment. Payment Service Providers, who facilitate an electronic payment when submitting selected products from out of a shopping cart in a webshop, provide a reference that can be used for matching incoming statements after delivering the goods and processing the sale.

Currently such a reference can be stored in a sales order, but is lacking a dedicated place to be used to optimize the matching process. Exact Online  will soon offer a dedicated place for a payment reference in a Sales order, that will be transferred via Goods delivery to a Sales invoice and an Outstanding item in the Financial administration where it can easily be recognized and matched with statements coming in.

This functionality is expected to become available within Sales orders in the coming weeks for customers using Exact Online Wholesale Distribution and Exact Online Manufacturing. Customers using an Exact Online Accounting edition that includes Sales invoices will be able to add a payment reference in the Sales invoice.

 

 

 

 

 

Small enhancements…big impact!

Written by Michiel Dorjee on . Posted in Exact Globe

As from August 11, product update 394 of Exact Globe can be downloaded by our customers. In this product update, as with previous ones, Exact brings several major enhancements to the market. These projects are based on input from our customers, from the ERP market in general and market trends we see and finally, input comes from the technology side.

A considerable slice of the development capacity ‘pie’, is allocated to what we call ‘small enhancements’ that are a direct result of customer feedback. Exact receives quite a bit of customer suggestions every day and we’re happy with such feedback since it helps us to improve the product and increase the satisfaction our customers have when using the product. The best ideas are often generated by those users who work intensively with the software in their daily operations. Check for example this earlier post.

In this blogpost I want to highlight one of the ‘small enhancements’ we made in product update 394: Perform Multiple Payment/Receipt Allocations and Cost Bookings Simultaneously.

Originally brought to the attention of Exact by a customer who updated to product update 393. After this update, he couldn’t use ‘Analytical accounting’ (menu path[FGY])  anymore to allocate multiple debtor entries on to another debtor. He used this functionality frequently because as a result of his business (a parking garage) he received a huge number of electronic payments that have no invoice and are from unknown debtors. Exact had changed (disabled) the functionality they used since it lead to financial inconsistencies.

After we understood the scenario this customer was using every day and dived into it, we concluded that the allocation to a debtor is only a part of the process. There was a lot of manual work involved to get it booked on the correct cost or revenue ledger, using the right  tax code and other analytical values.

So we came up with a simple, small enhancement that would have the same result as before product update 393 and even better: next to allocating multiple receipts/payments to a debtor/creditor, users can also book it on the correct ledger and assign cost center/cost unit/project/tax codes in 1 go. have a look at the screen to see what I mean:

Product update 394: multi allocate

Building this new screen wasn’t a lot of effort from a product development point of view. That’s why we classify it internally as a ‘small enhancement’… But from an external point of view (the customers using it) this turns out to be an enhancement that is very much appreciated. Now that product update 394 is being downloaded and deployed by our customers, we’re receiving more and more extremely positive feedback on this particular enhancement. Of course the customer based on who’s input we developed it, was happy with the improvement and another customer, an organization delivering professional services on accountancy and business software,  told Exact (quote) “This new functionality is in 1 word GENIAL. It saves me hours of work”. More of these positive quotes come in on a  regular basis now.

A clear example of how a small project turns out to be a major improvement to many customers. That’s also the challenge for people working in any product development organization: balancing the time spent on ‘big projects’ based on market research that aim to capture new opportunities, versus smaller projects based on direct feedback from your existing customers. For the customer, this differentation between ‘big’ or ‘small’ is irrelevant by the way: the end-result needs to add value and contribute to a more efficient or effective way of working.

 

Photo-credit: spettacolopuro

 

Want to get to know your customers better?

Written by Philippe Robert on . Posted in Exact Online

Exact Online users in Belgium can now benefit from a new integrated service. Through collaboration with the Belgian organization GRAYDON, they can now learn much more about who they do business with.

Graydon Belgium NV manages a huge volume of information on all Belgian companies, gleaned from a variety of sources including official publications, phone books, internet sites and legal documentation. As a service company, they create and sell customized reports, give ratings and offer further advice tailored to their clients’ specific needs.

These reports can be extremely valuable in understanding other businesses better, particularly when planning a significant interaction with another company. 

What is the payment experience?
Graydon’s “Payment experience” report allows you to view a company’s payment activities on a quarterly basis, seeing how well they meet their invoices on time. Every month, Graydon’s members supply the aging balances associated with all their Belgian customers, allowing Graydon to generate a clear overview of how well Belgian companies service their debts to their suppliers.
As a Graydon customer (member of the Graydon community) this report is available for free. All that’s required in return is collaboration with Graydon, agreeing to also send them the aging balances of all your customers every month. 
Excitingly for Exact Online’s customers, we’ve made this valuable process easy and accessible, integrating the process directly into EOL’s functionality.

Activating collaboration with Graydon.
Despite the power we believe this service to offer, Exact Online’s customers are not automatically entered into the collaboration. A link to start the process is in the account card. Clicking on the link starts a wizard, outlining the benefits of taking part in the Graydon community.
Once the conditions are agreed to, an e-mail is sent to Graydon automatically. On receiving the e-mail, Graydon activate the company in their back office and send through a customer code, login and password. It couldn’t be much easier.

Sending the aging balances to Graydon.
Every first day of the month, Exact Online customers who have activated the Graydon collaboration will get a task in their cockpit. Clicking on it opens a wizard that sends Graydon an e-mail. A CSV file detailing the outstanding items for Belgian customers will be attached. It’s that simple. Graydon has everything they need from you with one click of the mouse. Once the file has been sent, this task disappears from the cockpit until the same time next month.

Review your customers’ payment behavior quickly and easily.
Rather than doing a manual search in the Graydon site, Exact Online users can directly access the reports they need within their administrations. A hyperlink in the customer’s account card will send the user straight to the information they are looking for.

This new built-in service helps strengthen the community aspect of our Exact Online users. We are linking individual companies together through the easy sharing of important information, making it easier for our customers to make the right choices and develop valuable relationships. Graydon’s ecosystem offers powerful business intelligence, joining it a move that can genuinely exert a positive influence on cash flow.

And there’s more to come!
This functionality is just the beginning of the extra services we have planned for Exact Online’s customers. Check back here soon for more articles on what the future will offer our users!