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Before kickoff · Thornbury Grounds

Cash application: every question

For Tamsin, AR lead. About 9 minutes online, due Fri Nov 27. Kickoff is Mon Nov 30 at 10:00 AM.

1. How you work today for your version, wk Dec 14

What we heard on our call on Nov 10, about how your team posts cash today. Correct anything that's changed. Confirm each line, or write what's different.

  1. About 45 items come through the lockbox each night. (Our call on Nov 10)
  2. A week's deposits take about 3 days to post. (Our call on Nov 10)
  3. Most payments come as cheques through your bank's lockbox. (Our call on Nov 10)

2. Who's involved for deep dives, wk Dec 7

So we meet whoever posts cash each morning, and whoever signs off what it can't clear. Confirm each line, or write what's different.

  • Owns it: Tamsin Holt, AR lead. Approves: Tamsin Holt, AR lead. Decides: Mireille Ashby, controller.
  • Also: AR specialist (name to come), joins the deep dives.
  • Also: Dorian Kessler, CFO, not at the deep dives.

    3. How it decides for your version, wk Dec 14

    So your agent knows what it can write off on its own, and who to ask about a short payment. Confirm each line, or write what's different.

    • Up to $25: goes ahead without asking.
    • $25 to $1,500: your controller.
    • Over $1,500: your CFO.
    • Only the person at that level signs.

      4. Rules and exceptions for your version, wk Dec 14

      So your agent does the right thing with the payments that aren't simple. Confirm each line, or write what's different.

      1. Your agent starts at 7:00 AM, once the lockbox file has landed. (What we assumed)
      2. It reads remittance emails from the last 5 business days. (What we assumed)
      3. What should happen to a cheque nobody can match?
      4. A cheque that pays for several properties: split it as the stub says, or ask first?

      5. Your files for build and test, Jan 4 to Feb 5

      Your written rules and a few past examples, so we build and test on your real work. Send them as they are; our NDA covers them.

      1. Your cash posting rules, if they're written down. (usually your controller)
      2. Last month's payments, with how each one was posted.
      3. The same month's lockbox files, as your bank sends them.
      4. Ten remittance emails from your AR mailbox, of different kinds.