AgdaPkt 2015-08-24 Joint SA and PAF

Browse Search

The Receivables Manager service offers: Streamlined payment posting and reconciliation. Simplify the posting and reconciliation process by receiving an electronic file of your receivables multiple times during the day to upload into your system. You’ll update your accounts receivable system faster and decrease payment-posting errors by reducing the amount of manual data entry. Improved customer service. Reduce misapplied payments by electronically uploading payment information to your system. Less manual intervention will help you reduce the risk of errors and accelerate payment posting, resulting in fewer payment disputes and customer complaints. Faster access to funds. When customers pay by check or through an online bill-pay service provider, you may have to wait up to five days to receive the payment. Receiving an electronic payment can reduce that time to one to two days, in most cases. Reduced processing costs. ACH, online bill payments, lockbox, electronic deposit, merchant services, and wire payments can be automatically uploaded into your system. Receivables Manager eliminates the need for rekeying payment information, allowing employees to spend more time on your core business. Moreover, this paperless process conserves natural resources. Wells Fargo provides: Information you need on your terms. Wells Fargo can translate the data and deliver it to you in a format compatible with your ERP platform, treasury workstation, or system of record. Wells Fargo readily delivers the following standard file formats: •Flat file •ANSI 823 •ANSI 820 •BAI •Modified NACHA Standardized information. Payments routed through our Receivables Manager service often have standardized information, including the payee’s name and invoice number. Where possible, providing this information in a consistent format across payment types helps lower the number of misapplied payments or other exceptions. Plus, we’ll provide research assistance for payments that may have incomplete information. Security. Our advanced system has superior capacity and reliability, and we use state-of-the-art security channels to help protect your files. Wells Fargo supports a variety of transmission methods and protocols so you can safely receive your data. You can get receivables data for the following payment types in your Receivables Manager file: ACH. Our best-in-class, internally built and maintained ACH system brings you Internet functionality, domestic and international capabilities, advanced features, and complete electronic solutions for your disbursement and collection needs. You can receive the posting information in your receivables file for any ACH debits or credits to your designated accounts for all Standard Entry Class codes. Online bill payments. Ensure that your customers’ online bill payments reach you electronically rather than as third-party checks. Our service combines multiple payments into a single remittance file, which you can upload daily for faster, easier posting. You also receive one consolidated credit posted to your account, easing the reconciliation process. continued Electronic commerce services Receivables Manager service Treasury Management Streamline your accounts receivable process with Wells Fargo, the industry pioneer and consistent leader in electronic commerce services. The Receivables Manager service from Wells Fargo provides a simple electronic payment file for secure, easy posting to your system—drastically reducing manual keying errors and lowering your costs with a paperless alternative, which is good for your business and the environment. Receive payment data files when and how you want them for faster uploading and more efficient posting and reconciliation for all payment types. 6.1.D. - Page 108