Auto Settlement in Pay-ins is a system feature that automatically settles collected pay-in amounts once the payment is successfully received. When enabled, the settlement process is executed based on predefined system rules, eliminating the need for manual settlement.
This feature helps ensure accurate and timely settlement of transactions, reduces manual intervention, and minimizes the risk of settlement discrepancies. It also improves reconciliation efficiency and provides better control over cash flow within the ERP/POS system.
By automating settlements, businesses can streamline financial operations, maintain consistent accounting records, and focus on core operational activities rather than manual payment tracking.
This video explains how Auto Settlement matches payments with outstanding bills and records them instantly.