Overview
Cash application in Tesorio refers to automated bank deposit reconciliation where Tesorio's algorithm matches incoming bank deposits to specific invoices and identifies the invoice or invoices it relates to. These deposits appear on the Customer Payments section of Tesorio for review and posting. Upon posting, the payment will sync back to your ERP and the invoice will clear.
Cash Application can match your incoming payments to invoices using multiple data sources:
Lockbox PDF files
Structured bank files (ACH, checks, payment feeds)
Remittance emails and attachments
Tesorio has native integrations to sync customer payments posted in Tesorio for the following ERP users:
NetSuite
Sage Intacct
Workday
Tesorio also has a file-based Cash Application designed for Tesorio Connect users.
Cash Application here refers to bank deposits, which is separate from Tesorio's Payment Portal, which allows your customers to make payments through Stripe which then link to the paid invoices and sync back to your ERP. Both will show up under Customer Payments in Tesorio.
Process Overview
All credit transactions from your bank feed/files, lockbox PDFs, and remittance emails/attachments are created as draft payments under Customer Payments > Unposted Payments
Tesorio generates recommendations and auto-applies the payment to invoices when possible
When payments are not auto-applied, bank statement information is used to identify the correct Customer and the payment can be applied manually
You can post payments without an invoice application and update them later in your ERP
Once reviewed, click Post individually or in bulk post to your ERP.
Payments generated from your bank feed in Tesorio will never post to your ERP without a member of your cash application team posting them.
This is different from payments generated from Tesorio's Payment Portal, which will post to your ERP if you have the sync-back setting enabled.
Sync Payments to Your ERP
Once posted, transactions sync on demand, or with the regularly scheduled sync
Tesorio Connect customers will need to export the Pending Payments File and import it into their ERP
A sync report is available for error reporting