Insight
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Cash Manager

Insight provides strong cash management capabilities through its Cash Manager (CM) module. Cash Manager is a subsidiary ledger maintaining all transactional history for user defined cash accounts. These accounts may be bank checking and savings, or other cash-like accounts such as short and long term investments. When activities within Insight post to a cash account, the CM module is updated with that activity. This includes Accounts Payable and Payroll checks, Accounts Receivable payments, and other miscellaneous cash items, such as bank charges and interest income or expense that may be the result of a GL journal entry. Cash Manager provides a central repository for looking at the utility’s cash position on a daily basis.

Cash Manager automates the process of maintaining daily real-time cash account balances in total by bank account and across funds at the General Ledger level. Simple account activity inquiry screens insure that the very important cash management duties can be accomplished with ease. Even the bank reconciliation process is automated to provide fast and efficient balancing to bank statements.

 

Key Features & Benefits of the Insight Cash Manager Module

Seamless Integration:

Cash Manager transactions are integrated instantly from Insight Accounts Payable, Payroll, Accounts Receivable, and General Ledger.

Unlimited Number of Bank Accounts:

Insight provides the ability to manage an unlimited number of bank accounts within an unlimited number of financial institutions. Deposits, payment entries, and adjustments can be tracked within each bank account.

Automatic Updating:

No additional processes are required to enter checks, deposits, and adjustments from other Insight modules. Once posted in Accounts Payable, Payroll, Accounts Receivable, and General Ledger, entries are automatically updated in Cash Manager.

Easy Bank Reconciliation:

The bank account reconciliation process in Insight makes it easy to balance Cash Manager to the bank statement.

Reports:

Cash Manager reports allow the utility to have instant reporting of the utility’s bank account register, cash balances, and deposit report.

PCS UtilitePCS Utilite

Cash Balances

Cash Manager also Delivers:

  • Ability to import file of cleared checks provided by the bank.
  • Ability to track by bank account number, bank account name, status, bank name, address and last check or wire transfer number.
  • In a multi-fund (electric, water, etc.) environment, the bank account can hold GL cash accounts from each fund, allowing one AP check to be written crossing multiple funds.
  • Immediate updating of cash position.
  • Bank account setup allows for all data necessary for both check production and ACH transactions.
  • Ability to group individual payments into a daily deposit in order to match the deposit ticket.
  • Secured access to the utility cash position.
  • Reconcile Cash Manager bank account with paper or electronic bank statements.
  • At a glance be able to see outstanding checks, deposits, and miscellaneous cash-related transactions.
  • Integrates with Unclaimed Property module for outstanding checks that are deemed to be unclaimed.