Treasury: control before the money leaves

What is inside

1. 01

   No request, no payment

   Request control applies to bank payments, cash orders, currency exchange and salary payments. The system checks not just that a request exists but how much of it is left. The whole module is switched on by a single legal entity setting.

2. 02

   Approval by role

   A payment request is approved by the manager, the financial controller and the accountant, in that order. A transfer order is approved first by the treasurer, then by the chief accountant. The route panel is shown in the document itself, and approval tasks are collected under “Pending approvals”.

   Screen K3Payment request with the approval route panel

3. 03

   Spending limits

   Limits come in three types: authorising, additional and informational. They have five periods, from a week to a year, and a hierarchy of analytic dimensions. The plan-versus-actual report uses the same logic as the check at approval.

   Screen K2Limits report with the limit, the amount used and the remainder

4. 04

   See the cash gap in advance

   The payment calendar shows the balance of every bank account and cash desk by day. Outflows come from requests, transfer orders and payments, and inflows from the payment stages of approved customer orders. A negative daily balance is a cash gap.

   Screen K1Daily balance forecast for the accounts with a cash gap

5. 05

   From cash gap to payment

   To close a cash gap, the system proposes a transfer order and automatically allocates requests across accounts by priority. A single action creates draft bank payments and cash orders. Transfer orders come in five kinds, and trusted account pairs can be whitelisted.