ZData Receive helps to reconcile and bookkeep payments which are paid without KID/OCR. ZData Receive reads and reconciles all types og payments which are delivered by the bank, including Swift messages which contain information of payments from abroad. Experience from the customers who have started using ZData Receive shows that 90–95 % of all payments get reconciled and bookkeeped automatically.
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Banks collect all types of payments and deliver this information electronically to the customer. Banks in Norway call this service Cremul or Innbetaling+, in Sweden it is named BG-Max or PlussGirot, otherwise delivered in the form of Swift-messages throughout the bank system.
For example payments with the wrong KID, Avtalegiro, electronic payments with and without messages, as well as manual payments. Additionally, payments from abroad.
ZData Receive reads payments and reconciles content automatically against the ledger and the original invoices. The program uses automatic text on the credit information to find the original invoice. This makes payment of one or more invoices to be processed and reconciled automatically. If text is missing, the program will use the name or payer’s account for retrieval of information.
In case information is missing, the user can find and post payments directly in the system with the help of matches with accounts receivable.
Update of accounts
When all payments are processed in the system, the posts are imported back to ERP-system. The result is updated accounts receivable, which gives the company better ground for sending collection letters and liquidity management.
The manual work with customer payments is reduced to a minimum!
This also gives the company better liquidity management and procedures for collecting debt.