Effective cash management is critical to the success of any business. Progression's Bank Book (B/B) module manages and reconciles all of your cash accounts, giving you information about your company's cash flow and empowering you to make more proactive decisions. Exact Progression's B/B will also allow you to transfer cash between cash accounts and maintain cash accounts in multiple currencies when used in conjunction with Progression's Currency Manager (C/M) module.
Receiving Cash
When your company receives cash, you have the option of entering it into the system in three ways: as a prepayment in Order Entry (O/E), directly against a customer account in Accounts Receivable (A/R), or as part of a deposit ticket in Bank Book. This flexibility enables Macola to take control of your cash receipts regardless of how your company receives its income.
Spending Cash
In addition to receiving cash, checks generated in Accounts Payable (A/P) and Payroll (PR) are recorded in B/B. This allows Bank Book to monitor all outgoing transactions facilitating cash management and account reconciliation. You also can enter bank transactions such as service charges and interest earned directly into Bank Book to ensure complete accuracy.
