Efficient Debt Collection Management
The Alistar Reversal Module
SEPA has made electronic payments—including both transfers and direct debits in euros—more uniform and transparent. With the Reversal Module, we offer the ultimate solution for processing SEPA reversal entries in Exact Globe.
Process SEPA reversal entries
Does your organization collect outstanding balances? If so, SEPA has a significant impact, because various additional data points are recorded at the debtor level, and the direct debit information must be exchanged in different file formats. The Alistar Reversal Module offers the best solution for processing SEPA reversal entries.
The Reversal Module for Exact Globe
Exact Globe has been ‘SEPA-compliant’ for quite some time, but does not yet offer a good solution for processing SEPA chargebacks. In Exact Globe Reversal entries must be processed manually (one by one), which is extremely time-consuming. For customers who process a large number of direct debits, this is not feasible.
The Reversal Module supports multiple types of direct debits and allows you to post a reversal with different payment terms and/or a different payment method after a certain number of collection attempts. You can use it to impose administrative penalties as soon as a transaction is reversed. In addition, you’ll receive detailed feedback on the identified entries, progress, and import status.
Who are our customers?
We work for the following clients, among others. Here is a selection of organizations that rely on our expertise.
How does the Cancellation Module work?
The Reversal Module uses the imported bank statement as the source for processing reversal entries. After the statement is imported, any reversals found are automatically identified and processed. This reverses the original reconciliation between the invoice and the receipt, so that the outstanding invoice is correctly displayed again.
If desired, the module can automatically post an administrative penalty and link it to the relevant invoice. The reversal and the receipt are then reconciled against each other. Based on predefined reason codes, the module can also determine how a reversal should be handled further—for example, by applying a different payment method or payment term after multiple failed collection attempts.
What are the benefits of the Cancellation Module?
Time savings
After importing the files, all necessary journal entries and reconciliations are performed automatically.
List Again
The module allows you to resubmit the voided invoice for collection (possibly with an administrative penalty) or to handle these items in another way. For example, by referring the outstanding item to a collection agency.
Automatic fines
If your organization wishes to impose an (administrative) penalty because the collection was rejected, the Reversal Module can generate it automatically. The penalty is then posted immediately when the reversal entry is processed.
How can the Cancellation Module benefit your organization?
The Reversal Module helps you reduce the administrative burden associated with processing reversals. Manual checks, journal entries, and reconciliations are automated, allowing employees to spend less time on repetitive tasks.
In addition, the module ensures that outstanding items are followed up on more quickly and consistently. Reversed invoices can be resubmitted for collection or handled differently according to predefined rules. This keeps your accounts receivable management organized and reduces the risk of errors.
Organizations that process large volumes of collections also benefit from a more efficient process, greater control over exceptions, and better follow-up on rejected collections. This results in time savings, a reduced administrative burden, and a more manageable collection process.
Curious to find out what this solution can do for your organization?
With the right solution, you’ll work more efficiently, save time, and get more value out of your business software. Our consultants are happy to help you find the best approach.
Request a demonstration or contact us for personalized advice.
Linda de Boer – Dijkgraaf
Alistar
Frequently Asked Questions
Are you curious about how this solution can enhance your Exact environment? Check out the answers below to frequently asked questions about the integration, features, and capabilities within Exact.
Does the Reversal Module automatically process SEPA reversal entries?
Yes. After importing the bank statement, the necessary journal entries and reconciliations are performed automatically.
Can the module resubmit a voided invoice for collection?
Yes. The module can resubmit an invoice for collection or process it in another way, depending on the configured rules.
Can you automatically calculate a return fee or administrative penalty?
Yes. If this feature is enabled, the module can automatically generate and post an administrative penalty as soon as a direct debit is reversed.
Does the Cancellation Module support different reasons for rejection (reason codes)?
Yes. For each reason code, you can specify how a reversal is to be processed, including the application of a penalty, payment terms, or payment method.
Can the payment method be automatically changed after several failed direct debit attempts?
Yes. You can configure the system so that, after a certain number of chargebacks, a different payment term and/or payment method is applied.
What benefits does the Cancellation Module offer organizations that handle a large volume of collections?
The module reduces manual work, prevents error-prone processing, and ensures faster processing of large numbers of reversals.
Does the Reversal Module provide insight into the processing of reversals?
Yes. The module provides feedback on the items found, the progress of the processing, and the import status.
Does the Cancellation Module support "Request for Cancellation"?
No. Canceling a direct debit before it has been processed is not supported.
Does the Reversal Module support reversal or revocation?
No. The creditor cannot reverse a direct debit that has already been processed.
Does the Reversal Module support return reversals?
Yes. Return charges—such as those resulting from an insufficient balance or an unknown account number—are supported.
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