Contents
- Introduction
- Accessing Deposits For Reconciliation
- Reconciling Deposits
- Adjusting Deposits
- Bank Deposit Reconciliation Configuration
Introduction
Unlock financial tranquillity with the Bank Deposit Reconciliation feature nestled within the Centegra Plus Revenue Management module. This understated yet powerful tool provides your finance team the ease of flagging Bank Deposits as "Reconciled" while effortlessly aligning Centegra Plus deposits with your bank account.
Picture a smooth reconciliation process, where your finance department can gently make adjustments to address any discrepancies that may arise. These subtle adjustments not only update the original record but also refine the over/short balance for a specific date, ensuring your financial records remain accurate.
In this world of financial subtleties, every adjustment prompts a discreet email notification, connecting team members seamlessly and keeping the creator of the original bank deposit informed. The Bank Deposit Reconciliation feature is more than just a tool; it's a quiet yet effective companion, bringing harmony to your financial operations. Experience a new level of financial ease with Centegra Plus and simplify your bank deposit reconciliation process.
Accessing Deposits For Reconciliation
Ensure that you are logged into the Head Office site and head to Revenue Management > Bank Deposits.
Perform a search to specify which deposits in Deposited state should show. The search options available are as per the standard Bank Deposit Search Filters, with the addition of a site picker to select which site deposits to show.
The following is displayed for each deposit:
- Deposit Date: Displays the date and time that the bank deposit is deposited.
- Site: Displays the site that the deposit is from.
- Sales Date: Displays the Sales Date that the bank deposited is assigned to.
- Bank Account: Displays the bank account that the cash is being deposited to.
- Reference: Displays the bank deposit reference.
- State: Displays the current state of the bank deposit.
- Amount: Displays the total amount currently within the bank deposit.
Additionally options are available on the row, as covered in the Adjusting Deposits and Reconciling Deposits sections below.
Reconciling Deposits
To flag a deposit as Reconciled, on the relevant row select [RECONCILE].
This will update the bank deposit state from Deposited to Reconciled, thus preventing any further edits to the bank deposit by the site.
Alternatively, select [RECONCILE ALL] to flag all Deposited bank deposits shown as Reconciled.
Bank deposits should be reconciled in a timely manner, as a sites Cash Period cannot be progressed to the final Completed state until all applicable deposits are flagged as Reconciled.
Note that the option to flag a deposit as Reconciled is only applicable for accounts enabled for reconciliation as covered in the Bank Deposit Reconciliation Configuration section below.
Adjusting Deposits
When running through the reconciliation process, if a deposit is incorrect, you can apply an adjustment against the row to correct the deposit value.
Enter the adjustment amount into the Delta column as a positive or negative value, and the new deposit value will show in the New Amount column.
Select [APPLY DELTA] to save the adjustment against the deposit.
This will send an email to the user that originally created the deposit to advise of the adjustment.
This will also update the original deposit record with the adjustment, and update the overall over/short for the day.
Bank Deposit Reconciliation Configuration
The Bank Deposit Reconciliation feature is only available when accessing the Bank Deposits section via the Head Office site. If your company does not have a Head Office site, Contact Centegra.
To enable a deposit account for this feature, thus requiring that all deposits to that account are reconciled, the Reconcile This Account option must be enabled for the relevant Bank type account(s) within the Chart Of Accounts.
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