Beyond PayNow, Singapore businesses still receive payments via GIRO, bank transfer and card. Matching every bank statement line to the outstanding invoice it settles is a recurring task that consumes significant accountant time each month — and when left to accumulate, produces a backlog that delays the GST F5 reconciliation and the monthly management accounts.
Manually mapping bank statement lines to invoices takes several hours every week as transaction volumes grow, and unmatched items accumulate into a reconciliation backlog that takes days to clear.
Automatic statement import with invoice matching using reference codes, reducing unmatched items to near zero and keeping the reconciliation current in real time.
Overdue debtors are not followed up consistently because the reminder process is manual — meaning some invoices are chased three times and others not at all, stretching average debtor days.
Automatic debtor ageing report with scheduled SMS and email reminders sent through the notification module at defined intervals, regardless of how busy the accounts team is.
Automatic matching and systematic reminders — nothing waits until Friday.
