05. Cash Receipts

Manages intake and processing of incoming payments to UTA across multiple channels and payment methods, facilitating identification, matching, and application of cash receipts to appropriate bookings.

05. Cash Receipts Productboard component link

05.01. Cash Receipt Processing

Handles the initial intake and processing of incoming payments from all sources including electronic transfers, checks, and credit card payments.

• 05.01.01. Payment queue management — Maintains organized queues of incoming payments showing status (Unassigned/New/Applied) and enabling efficient processing by cash receipts staff.

• 05.01.02. Banking platform integration — Integrates with banking systems globally to automatically pull payment information, wire details, and remittance data throughout the day, reducing manual data entry.

• 05.01.03. Multi-currency capture — Captures incoming payments in all accepted currencies, preserving original currency information while flagging for appropriate exchange rate application.

• 05.01.04. Payment documentation preservation — Maintains complete payment documentation including check images, wire confirmations, and remittance details throughout the payment lifecycle for reference and audit purposes.

• 05.01.05. Direct commission payment capture — Handles receipt of direct commission payments from clients through various methods including credit cards, enabling flexible payment options. On-line payment options automatically match invoices being paid.

05.02. Cash Identification and Matching

Facilitates identification and matching of incoming payments to appropriate bookings and clients through both automated and manual processes. Payments can span clients, bookings, and departments.

• 05.02.01. Payment identification workflows — Provides systematic workflows for identifying which clients and bookings are associated with incoming payments, supporting both automated and manual identification processes.

• 05.02.02. Multi-method deposit matching — Supports various matching approaches including assistant-provided payment data, automated remittance ingestion, AI-powered matching suggestions, and manual research by finance teams.

• 05.02.03. Unclaimed wire distribution — Distributes information about unidentified wires to agent teams and assistants who can provide additional context for payment identification.

• 05.02.04. Search and matching tools — Provides robust search capabilities across clients, bookings, and amounts to facilitate quick identification of payment purposes and proper application.

• 05.02.05. Intelligent matching algorithms — Implements automated matching logic based on payment amounts, timing, client patterns, and other criteria to suggest likely matches for manual verification.

• 05.02.06. Buyer portal payment flagging — Provides visibility to items posted to buyer portals for payment to more easily identify incoming payments.

05.03. Cash Application Processing

Manages the actual application of identified cash receipts to specific bookings and client accounts, including complex split payments and error corrections.

• 05.03.01. Cash application to bookings — Processes the application of identified cash receipts to specific booking line items, and triggering downstream settlement processes.

• 05.03.02. Split payment application — Handles complex payments that cover multiple bookings, clients, or departments, properly allocating payment amounts across all relevant receivable items.

• 05.03.03. Settlement calculation trigger — Triggers Settlement function calculations when cash applications create conditions for client payments or commission recognition.

05.04. Exception Management

Identifies, tracks, and manages exceptional situations in the cash receipt process that require special handling or investigation.

• 05.04.01. Error Correction — Enables correction of incorrectly applied payments by reassigning funds from one booking or client to another when errors are discovered.

• 05.04.02. Payment documentation and notes — Maintains detailed notes and documentation for payments requiring special handling, investigation, or clarification to support resolution efforts.

• 05.04.03. Incorrect payment flagging — Identifies and flags payments that were sent to UTA in error or duplicates, enabling appropriate return processing and communication with senders.

• 05.04.04. Unidentified payment workflow — Provides systematic workflow for researching unidentified payments, escalating when necessary, and tracking resolution progress.

• 05.04.05. Exception resolution tracking — Tracks the status and progress of all exception handling activities, ensuring timely resolution and proper escalation of unresolved items.

• 05.04.06. Audit trail maintenance — Maintains records of all exception handling activities, decisions made, and resolution actions taken.

05.05. Bank Integration and Reconciliation

Maintains connectivity with external banking systems and supports reconciliation processes to ensure accuracy between bank records and Client Processing records.

• 05.05.01. Deposit queue sorting — Enables sorting and organization of deposit queues by multiple criteria including subsidiary, client, currency, date, amount, and status.

• 05.05.02. Bank account access provision — Provides appropriate read-only access to bank account information for accounting representatives to reference incoming payments and assist with identification.

• 05.05.03. Reconciliation process support — Supports systematic reconciliation between bank statements and Client Processing records.

• 05.05.04. Multi-account and payment method handling — Manages connections to multiple bank accounts and payment processors, handling various payment methods and routing requirements.