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Settlement

Settlement processing for reporting and accounting the executed and reconciled transactions, orders, replenishments, counting and stock positions into a (sub) GL of a bank. Integration with the bank system using standard exchange formats. The settlement process is directly related to the cash book entries applicable to the cash transactions, stock movements and billing data e.g. buy, sell, delivery, and receipt of consignments. Settlement covers all executed cash movements to be administrated (and reported) into the holdings of the owner (e.g. bank, customer) and the physical location where these holdings are located. This provides a clear view for the Cash Manager to take the correct decision on the optimization and availability. Only exceptions through the reconciliation are to be managed separately. An extension of the latter is that these settlements are administrated into the central cash book and can be directly reported into GL holdings, even though these are outsourced and decentralized services. The Accounting Management - Settlement module uses standard protocols for direct entry into bank systems.

Module input

- Settings
- Data from Reconciliation, Stock Management, and Billing modules

Module output

- Settlement information - Bank (sub) GL data files

Jair Larrauri

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ICCOS Asia

Colombo, Sri Lanka | 23-09-2019

The Asia Cash Cycle Seminar’s program focuses on regional implications for the cash management industry from both the commercial and central bank perspectives. Join us in Colombo, Sri Lanka, and gather insights and strategies to help your organization streamline processes, learn valuable solutions and best practices, and network with cash industry peers.

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