This article provides comprehensive information on managing cash allocations at Sonovate.
Accounts Receivable at Sonovate: Managing Cash Allocations
At Sonovate, we prioritise the prompt and precise allocation of received funds. To achieve this goal, our dedicated Accounts Receivable Team diligently operates daily to maintain ledger accuracy and facilitate reporting functions. To ensure the seamless execution of this process, it is crucial that your client provides us with remittance advice for each payment they initiate. For the most efficient communication, kindly direct your clients to send their remittance advice to finance@sonovate.com.
Clear and timely information on how to allocate incoming funds is essential. Delays in allocation can impact your accounts and future funding. Therefore, it's vital to ensure that each of your clients is aware of this requirement. Our goal is to promptly record and allocate cash.
Accounts Receivable (AR) Processes
Daily Cash Management:
- Cash is uploaded daily into our system, and the process of identifying its allocation begins promptly.
- Our Credit Control and Accounts Receivable teams collaborate closely to address any miscellaneous cash matters efficiently.
Cash Allocation Process:
- The Accounts Receivable Team is responsible for managing the cash allocation process.
- When allocation is unclear, debtors are promptly contacted to obtain remittance advice.
- We work diligently to ensure that cash allocation is efficient and accurate, supporting the financial health of your accounts and overall operations.
You are welcome to connect with our Accounts Receivable Team whenever you need assistance. Reach out to us via email at ar_support@sonovate.com.