Process COVID19 Refund Payments without Vendors with Infor Cash Management

Is COVID-19 paralyzing your organization’s refund process? Has the increase in patient care in the healthcare industry resulted in an increase in patient refunds? Has the cancellation of school activities and events in the K-12 sector required you to refund students or families? Is your organization issuing refunds or payments to assist individuals and families through these uncertain economic times?

No matter the industry, Infor’s Cash Management solution is here to help.

Typically, an AP invoice is required to substantiate a payment, and an invoice requires a vendor. However, Infor’s Cash Management system can create payments without the need for a unique vendor. This means there is no need to create a vendor or one-time vendor for these payments – which often results in thousands of non-representative vendors cluttering your vendor master.

If you are running Lawson v10 or earlier, you can leverage CB55 Payment Entry to create these payments. If you have upgraded to Infor CloudSuite, you can create payments on the Payment Entry form within Cash Management.

Don’t want to manually enter each refund? You can use Spreadsheet Designer (Infor Cloudsuite Financials) or Microsoft Add-ins (v10 or earlier) to upload or a file import to create the refunds in large volumes. Once released from Cash Management, the payments will process just like regular AP invoices if you include “Cash Ledger Payments” when running the Cash Requirements.

Let us know if you’re struggling with issuing payments due to COVID-19 related refunds or expenses, and if you want to learn more about how to quickly and remotely deploy Infor Cash Management.

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