Currently the credit card transaction reconciliation to bank statement process is a very labor intensive task. With the addition of Sage Credit Card Solutions, I'd like to see more direct visibility in reports that tie to batch totals in Sage Credit Card Solutions statements or other configurable reports for an easy reconciliation process.
All the information is there - just line it up by batch for us with underlying detail as needed.
by: Scott N. | over a year ago | Financial Management
Comments
See https://www5.v1ideas.com/TheSageGroupplc/Sage100ERP/Idea/Detail/12320
This is a no brainer and should have been done a long time ago!!!
Please do this. SO important
Everything that is keyed into the Cash receipts entry should not only hit the GL account but should automatically hit the bank rec. Why should there be an extra step to get it into the bank rec. Even if there was a "credit card" reconciliation module where you had to pull your batches together and then update to the bank rec, it would be much easier than keying everything into the transaction journal. It should be as easy as checking off the credit card transactions that have been processed and batching them as a group, and clicking deposit now. This way it would hit the bank rec as of the date it was truly deposited. It shouldn't be complicated to do. But I do understand that it does not get deposited on the same day it's processed at the payment center level. Even so, it shouldn't be more labor intensive for the end-user.
I was trying to show a longtime Sage 100 customer how to use Bank Rec and we discovered that they code their credit card cash receipts directly to cash in payment type maintenance (didn't set that up). When I explained that we would need to instead post to a deposit holding account & then make an ADDITIONAL cash receipt (to account for the credit card cash receipt she just did) she laughed & said she would rather just keep using Excel for their Bank Rec.
Why make customers do this extra work of the double cash receipt?
Give companies an option to turn on CC deposits from Cash Receipts Journal update to post to Bank Rec. Put the option in AR Options. This will give companies the ability to choose how those CC deposits are handled within Sage 100.