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The Simple Way for Online-Shop Operators to Check all Money Flows

BASIC thinking, 04. February 2020:  Some tasks in accounting are more time-consuming than others. Among the most time-consuming is without doubt the monitoring of all financial transactions. Especially for internationally positioned companies that sell goods and services online, this task represents an enormous drain on staff and time. However, for this purpose efficient solutions that can be linked to all sales channels and general ledger systems do exist.


Payments streams are getting increasingly diverse. All the sales and payment transactions of the customer have to be checked – from the purchase in the online shop to the receipt of payment. In order to organize these tasks and processes effectively, having a receivables management suitable for high volumes is essential.

What is credit management anyway?

When sales are not paid in cash but instead take place by a certain payment deadline, this creates receivables that are owed to the shop operator by the customers makes use of the product or service.

Credit management deals with the complete procedure from the creation of the receivable to the final posting of receipt of payment, monitoring this process for each customer and for each receipt of payment. The aim is to quickly identify outstanding receivables in order to secure the permanent liquidity of the company.

Credit management also deals with the following tasks:

  • Creation of the account system and maintenance of the accounts of the customers or debtors.
  • Checking of the creditworthiness of the customers before acceptance of the order
  • Checking of the authorization to conclude a contract
  • Creation and recording of bills and receipts of payment
  • Monitoring of payment due dates
  • Processing and accounting of returns
  • Creation of credit notes and value dates
  • Drawing up of dunning letters
  • Introduction of further measures in the event of a payment default
  • Transfer into the general ledger
  • Securing of auditing-relevant processes

Monitoring money flows

secure, relaxed and effortless

In order to complete these tasks successfully and efficiently, automated solutions are available. nexnet’s credit management offers you a cross-sector solution that monitors all money flows in your end customer business and collates them with the date from your online-shop, your marketplace, or your offline sales channels.

nexnet links the credit management in a business process outsourcing (BPO) system between you customers, various payment service providers and banks, and ensures that you always in the picture on all money flows.

You constantly receive information on the completeness, due date, and correctness of all transactions; the system records all movements directly in accounts, so that you can then conveniently receive a certifiable monthly closing statement (SOX compliance). You will also be able to have a daily overview created of all accounting processes in an aggregated form.

In addition, the solution for the credit management supports standard general ledger systems such as SAP or DATEV.

Efficient dunning

But nexnet doesn’t stop at credit management. The receivables management goes one step further for late payers. Here you can completely customize your claims in the commercial dunning procedure: drafting and sending dunning letters, defining dunning fees and monitoring your customers’ payment history.

There is also a built-in collection solution, which even includes the judicial dunning procedure. All dunning stages can be easily integrated into your existing processes via online interfaces.