Offering customers the flexibility of a wide range of acceptable payment methods is a key tool that businesses will use to help them maximise all their sales opportunities. Although not the most commonly used, two payment methods that many companies will offer to their customers is the ability to pay via a bank transfer or by cheque. This enables customers to pay quickly and securely by directly transferring funds over from one bank account to another.
However there are occasions where customers choosing to pay via bank transfer or by cheque can present a number of complications that need to be handled effectively. For example if a bank transfer is made out of office hours such as on a weekend for instance, situations can occur where this payment may not be processed until a number of days later. This is often also the case with cheques which usually take a number of days to fully clear.
The result of this is that businesses will be left with payments from customers that have different recorded payment received dates which can cause real problems if the date is not properly reconciled between their bank statements and accounts software. Therefore businesses accepting bank transfers or cheques need to ensure they have a method of ensuring that the recorded payment received date can be quickly rectified if needed so that it is consistent with the true date that the payment was made.
Providing a solution to this commonly occurring scenario and allowing for simple, accurate reconciliation between OrderWise, bank statements and Accounts systems, new functionality has been added in version 10.6 of OrderWise to edit the payment received date.
Controlled by two security settings, businesses first decide which users have the ability to edit payment dates and how far back in days they are allowed to set the payment. Then permitted users will be able to go to sales order history, select the order they wish to update and add the payment received date on the take payment form. This date will then be pulled through to the customer’s payment history and will also be the date that gets posted across to the user’s Accounts system.
With this simple but highly useful new addition, businesses using OrderWise are able to ensure that customer payments added after they have been received are always accurately matched up so that the date held on OrderWise, their chosen Accounts software and bank statements is the same.
For more information on OrderWise, download the brochures or watch our videos.
Existing users can visit the OrderWise Online Shop.
To discuss your requirements in more detail contact us today on 01522 704083.