Say Goodbye to Unallocated Cash Receipts – Because No One Has Time for Accounting Mysteries

When you run any business that relies on receiving payments from customers, it’s important to have a process in place for tracking those payments. This is especially true if you’re dealing with unallocated cash receipts, which are payments that come in without any information about where they should be applied.

Aircraft leasing firms see their fair share of unallocated cash receipts, due to payments coming in from a variety of accounts and the payment sometimes lacking clear instructions.

In these situations, it’s essential to have a process in place for managing the unallocated cash. To help customers, LeaseWorks offers a feature called “Payment on Account”, which allows you to hold the funds and link them to the appropriate lessee or operator account.

Once the allocation is completed, it’s easy to categorize the allocation of funds with just a few clicks.

We keep the user experience streamlined by offering the Payment on Account feature within the same module where we normally apply cash receipts to unpaid invoices, which is the Payment Studio. The following are three benefits of using LeaseWorks to track these funds:

• Manage unallocated cash receipts digitally, rather than tracking these in an external spreadsheet.
• Track and apply allocation, ensuring that the unapplied cash balance is always updated and accurate in real time.
• Save time and reduce the risk of errors or inconsistencies in reconciling a lessee’s account by centrally recording overpayments. For example, if a lessee makes a payment that is more than the amount they owe, you can apply some of the funds to accounts receivable and record the overpayment to be held on account, all in one transaction.

In conclusion, tracking unallocated cash receipts is an important part of managing your business’s finances. For aviation companies, the Payment on Account feature offered by LeaseWorks provides a simple and efficient way to manage unapplied funds. By using this feature, you can ensure that your finance records are accurate and up to date, saving time and reducing the risk of errors.

Bulk Up Your Invoicing Game: How LeaseWorks’ Bulk Invoicing Solution Can Transform Your Billing Processes

In the aircraft leasing industry, invoicing multiple airlines can be a complex and time-consuming task. With the need to keep track of different billing cycles and dates that the lessee has to receive the invoice, it can be difficult to ensure that invoices are processed in a timely and efficient manner. That’s why LW has developed a Bulk Invoicing solution that centralizes the entire invoicing process, from end to end.

At LeaseWorks, one of our big goals  is to help our customers maximize their efficiency so they can scale while keeping headcount lean. Our Bulk Invoicing solution is designed to do just that. By using search filters, users can easily find all the records that need to be processed. This eliminates the need to scroll through reports and toggle back and forth to ensure that all invoices are being handled on time.

From the Bulk Invoicing screen, users can tackle all the steps in one place. With just a few clicks, users can create, review, approve and email invoices. The Bulk Invoicing solution also enables users to generate PDFs on the fly, click an icon to see the document and attach the PDF files to outgoing emails. This streamlined invoicing process eliminates the need to switch between different screens and systems, saving time and reducing the risk of errors.

In summary, LeaseWorks’ Bulk Invoicing module is a true end-to-end billing solution. By centralizing the entire invoicing process, from fetching records to generating PDFs and emailing invoices, LeaseWorks is able to help Lessors  streamline their billing operations and improve their efficiency. With this solution, companies can scale while keeping headcount lean, ensuring that they can meet the needs of their customers while maintaining profitability.