Cash Flow Management
You send off deals and wait for them to be funded. You send out statements and wait for payments to come back. You send out checks and wait for them to clear. With so much cash up in the air, it’s time to take control of your cash flow and streamline dealership finances.
What if you could...
- Pay vendors exactly when bills are due, rather than batch printing checks once or twice a month and waiting for them to clear?
- Receive payments from customers when you send their statement, rather than waiting on checks to come in?
- Save hours each day with digital payments and reconciliation?
- Increase reliability in your accounting journals with real-time data?
- Decrease the chance of theft, check fraud, and other security risks store wide?
Here’s How
Reynolds Electronic Payables
Batch printing checks, stuffing envelopes, and waiting for payments to clear means you are sending cash out before you need to. And what happens if the check is off or doesn’t make it in time? Reynolds Electronic Payables allows you to automate the payable process from receipt to payment. Pay your bills electronically on the day they are due and no sooner, giving you control over your cash going out.
- Speed up the A/P process by uploading vendor invoices and automatically routing for approvals.
- Save on checks, MICR toner, and postage needed to remit payments by submitting all invoices in a single, digital file.
- Use the virtual card payment option to pay vendors and earn rebates that turn your accounting office into a revenue center.
- Increase security and reduce the risk of check fraud with an electronic audit trail.
ReyPAY®
Someone typing the wrong payment amount into your point of sale terminal means you spend the end of your day trying to reconcile and find the mistake. Then someone has to contact the customer and refund them or charge them again. ReyPAY uses the payment amount from the DMS to process an accurate payment, whether the customer is in the store or online. It’s EMV compliant, uses point-to-point encryption to ensure data is kept secure, and helps reduce transposition errors caused by manual data entry.
- Integrated payment processing for the entire dealership allows for a system-wide improvement in efficiency and reduces errors caused by manually submitting payment information.
- Improve customer satisfaction by sending them digital invoice and payment options through email or text.
- Protect your transactions from fraud attempts with EMV-compliant payment terminals and point-to-point encryption.
- Worldpay’s IQ reporting portal allows you to save time reconciling statements by providing access to your entire store from a single, online location.
Accounting Electronic Communications
Once a month, you print your receivable statements, stuff them in envelopes, pay for postage, and then wait. The invoice says net 30 on it, but you really have no idea when the checks will come back. Your cash flow is out of your control. Accounting Electronic Communications provides the ability to send receivable statements via email and capture electronic payments immediately with ReyPAY.
- Send A/R statements, cash receipts, EFT remittance, and other items electronically through email instead of physically in the mail.
- Maintain your brand image and professionalism with customizable email templates.
- Easily track payments and reconcile any issues with an electronic audit trail.
- View all documents electronically and accept online payments when paired with Integrated Document Management and ReyPAY.
What can you experience:
“ReyPAY has helped alleviate the stress and pressure that comes with the daily 5pm rush; whether it’s on the customer, parts counter, or service writer.”
