Invoice-to-Collection Reconciliation Add-On
Automated Reconciliation of Incoming Payments Against Customer Invoices in SAP Business One
Purpose
Clockwork’s Invoice-to-Collection Reconciliation Add-On streamlines the process of reconciling customer payments with open invoices in SAP Business One. Using an Excel import, customer-wise payment data is uploaded into the system, and the Add-on automatically allocates payments to outstanding invoices based on predefined rules such as FIFO, oldest due, or custom business logic — saving significant manual effort and eliminating reconciliation errors.
Business Challenges the Invoice-to-Collection Reconciliation Add-On Addresses
Finance teams often struggle with manually applying customer payments to multiple invoices, especially in high-volume businesses. Common issues include:
- Time-consuming manual matching of payments to invoices
- Errors in allocation leading to incorrect open balances
- Inefficient handling of advance or part payments
- Lack of visibility into reconciliation status and pending amounts
- Labor-intensive and error-prone reconciliation
- Difficulty in applying payments against correct invoices
- Misalignment between customer ledger and actual dues
- Inability to automate based on preferred allocation logic
Solution that the Invoice-to-Collection Reconciliation Add-On offers
- Import of payment details via Excel in a simple, structured format
- Automated allocation of payments to invoices using FIFO or custom rules
- Support for part payments, overpayments, and advances
- Dashboard to track allocation status and exceptions
- Flexibility to override or adjust allocations manually when needed
- Customer-wise summary of open, matched, and pending invoices.
Outcome / Business Benefits of Invoice-to-Collection Reconciliation Add-On
- Drastic reduction in time spent on reconciliation activities
- Improved accuracy in customer outstanding reporting
- Faster month-end and year-end financial closures
- Better customer relationship through transparent payment tracking
- Easier audit trail with traceable allocation logic
