How does AR Automation software work?
- A customer makes a payment
- Cardknox processes the payment automatically, then settles it in a batch at the end of the day
- Merchant Download job creates Cash Receipts, applies them to Billings, and creates a Bank Deposit to aggregate all payments in the batch
- Merchant Download job then creates a Journal Entry to record the deposit and associated fees
- Batch deposit and associated fees are auto-matched and auto-cleared on the Bank Reconciliation
Want to know the best part? You get more time back in your workday with the peace of mind that your AR workflow was handled right.