Cash Management

Spectrum's Cash Management module provides contractors with an efficient method of tracking and maintaining cash assets. Fully integrated with Accounts Payable, Accounts Receivable, Payroll, Job Cost, and General Ledger, Cash Management automatically accumulates all cash-related transactions during routine daily processing.

Because of its integration with other Spectrum modules, the Cash Management system streamlines related accounting functions to single entry procedures. At period-end, Cash Management provides a fast, efficient process to reconcile each bank statement to the General Ledger cash account balances.

For contractors who use interest earning accounts to fund payroll or payables accounts, information provided by Cash Management's Check History Float Inquiry can be invaluable. By evaluating historical data relating to when checks are written and when they clear the account, users can determine the date they actually need to fund these accounts, thereby keeping their money in the interest earning accounts until it is actually needed.

Features:

• The Transaction History Report starting screen offers convenient check boxes within the 'Transaction types' and 'Source' sections. The check boxes allow users to specify which information will display on the report and where the information will originate from.
• Handles multiple bank accounts.
• Keeps track of check sequences for multiple checking accounts.
• Flexibility to handle a wide variety of different banks.
• Bank reconciliation screen provides automated reconciliation of bank statements.
• Electronic check clearing is available by importing bank-provided files; this creates historical data relating to the check print date vs. the actual clear date.
• Entry of bank charges in Cash Management automatically posts to the general ledger.
• Automatically records deposits entered in accounts receivable.
• Wire transfers between accounts or to third parties automatically update to the General Ledger.
• Direct check feature allows for simplified cash expensing, without an entry in accounts payable, such as for payroll tax deposits, permit checks, and other direct payments.
• Voiding or reversing direct checks is fast and easy.
• User-defined security is built in to allow for various levels of access.
• Creates a database of account information, including account numbers, representatives, and telephone numbers.

Inquiry Screens

Current Bank Balance: This screen allows the user to view details about the bank account information stored in the Spectrum General Ledger.

Bank Statement History: This inquiry prompts the user to enter the General Ledger date and the bank account to view statements that have been reconciled or updated. The user may also view the deposit and cleared check transactions.

Check History Float: This screen allows the user to view the check float history (the number of days between the check date of an item and the date that it is cleared by the bank). The display detail includes the checks that are cleared and stored in the reconciled check history file for a particular check issue date. The screen also summarizes checks not yet cleared as of the date specified.

Reports

Bank Statement History Report: This report allows the user to view bank statement information, which can be reproduced at any time from the history file. Two formats of this report can be printed: detail or summary.

Transaction History Report: This report prints directly from the history file and shows the transactions that have been reconciled or updated for any date range specified. Each bank account prints on a new page and can be sorted by the check date or number. This report can also be displayed in detail or summary.

Other Cash Management Reports

• Check History Float Listing
• Positive Pay Data File Report
• Bank Reconciliation Listing
• Additional Transaction Update Report
• Direct Check Print
• Direct Check Register
• Void Direct Check Listing
• Void Direct Check Register
• Wire Transfer Listing
• Wire Transfer Register
• Void Wire Transfer Listing
• Void Wire Transfer Register
• Outstanding Check Conversion Report
• Bank Account File Listing
• Clearing Data File Format Listing
• Electronic File Table Listing
• Electronic Category Group Listing
• Electronic File Formula Listing
• Bank Statement History Purge Report
• Direct Check History Purge Report
• Wire Transfer History Purge Report