Reconciling

Reconciling should be done each day after you have performed an End of Day.

If you had selected the option to use date range in Configuration, you will be prompted first to enter a date range.

Otherwise, the above screen is skipped.

Step 1 - Posts Checks

The total check count and total amount received in checks is displayed to the right.

For each check received, the following information will be displayed.

Click the Next button to advance to each step. Click the <<Previous button to go back one step or the Cancel button to exit.

Step 2 - Posts Credit Cards

You are able to click the Inquiry or Settle buttons in the ePayment section for ePayment batch settlements (see ePayment Batch Settlement).

The total number and amounts are shown for each card type and as well as a credit card total.

Click the plus signs to display details for each credit card type.

For each credit card payment the following information is displayed:

Step 3 - Posts Cash

For each cash payment, the following information is displayed:

Step 4 - Cash Payouts

This displays accounts payable cash invoices. You are also able to post accounts payable invoices without leaving the reconcile screen using the Post AP button.

The total number of cash payouts and the cash payout amount is shown to the right.

For each cash payout the following information is displayed:

Step 5 - Drawer Countdown

You are able to enter individual currency amounts in the drawer or enter the total cash amount by selecting that option. If the option Force Cash Count in Accounting Interface option in Configuration is selected, the options will not be shown. The individual currency amounts will have to be entered.

Enter individual currency amounts or if the option Enter Total Cash in Drawer Amount is selected, enter the total cash drawer amount in the Total Coins in Drawer field.

The right hand window displays:

Step 6 - Summary

Beginning Cash Balance

Column Description

Cash Sales

Cash received from customers

Paid Out

Accounts Payable Petty Cash Invoices

Calculated Cash in Drawer

Actual Cash in Drawer

Edit this number if the cash you counted is different than what was automatically calculated.

Amount Over/Under

Actual Cash in Drawer

Column Description

Amount to Leave in Petty Cash

Use the default you set up (see Configuration) or enter new amount.

Cash Deposit

This is adjusted based on how much you leave in Petty Cash.

Check Deposit

Total Deposit

Credit Cards

Credit card deposit is a separate deposit from Cash and Checks above.

Click the Print Deposit Slip button to print a deposit slip.

Click Finish and a reconcile report will be printed detailing all transactions known as the Reconcile Report.

Reconcile Report

The first page of the Reconcile report lists Accounts Receivable charges, Advance Payments, and repair orders to be transferred and includes the repair order number, date, customer name, reference number, amount paid and payment type, advance payments, and the total.

The second page of the Reconcile report includes total amounts transferred to each account.

You will then be asked if the reconcile is correct.

Only answer YES after you have looked at the report and are sure everything is correct. When you say YES, it will be too late to correct any errors. If you answer NO, you will have the opportunity to correct any errors in R.O. Writer and run the reconcile again.

When you answer YES, all transactions are marked as transferred and the import file ROW.IIF is created. You will then open QuickBooks for Windows. Click File and Import and select the resulting ROW.IIF and click OK. You should then get the message that your data has been imported successfully.

Transfers To Column

Column Description

Cash Paid Out

Petty Cash AP invoices

Checks Paid Out

AP invoices paid by check

Adjustments

The amount the cash drawer amount is adjusted. When a different amount is entered in the actual cash in drawer field during the reconcile

Accounts Payable

AP Charge Invoices increase the Supplier account. All AP invoices, charge, petty cash, and checks coded to the Inventory account increases the Inventory account

Visa3445

Total amount paid on AP charge invoices by a shop credit card

Accounts Receivable

Amount charged to Accounts Receivable

Advance Payments

Amount received in advanced payments on a repair order

Non-Taxable Labor Sales or Taxable Labor Sales

Total Labor charges

Non-Taxable Labor Discounts or Taxable Labor Discounts

Discounts calculated on Labor charges

Non-Taxable Sublet Sales or Taxable Sublet Sales

Total Sublet Labor charges

Sales Taxes Collected

Total sales tax amount

Shop Supplies Sales

Total shop supplies amount

Parts Sales

Totals are broken up into parts departments on this report only.

All parts departments added up here is total Parts Sales and will transfer to the Parts Sales Taxable or Parts Sales Non-Taxable accounts.

Disposal Fee, Tire Fee, etc.

These are the fees added to parts.

Taxable Parts Discounts or Non-Taxable Parts Discounts

Discounts calculated on Parts Sales.

Cost of Goods Sold

Total cost of parts sold on repair orders.

Master Charge, Visa, Discover, AMEX, etc.

Hold necessary to handle the auto deposit option.

  • If the auto deposit for this payment type is checked, this amount transfers to the Checking account as a deposit.
  • If the auto deposit for this payment type is not checked, the amount transfers to the Master Charge account and does not hit the Checking account.
  • When you see these totals under Transfers To, those amounts are transferred to the Checking account. If you only see these totals under Transfers From, those amounts are not transferred to the Checking account.

Transfers From Column

Column Description

Bank Deposit

Total Checks paid by customers plus cash payments - amount needed to replenish the drawer (petty cash).

Accounts Receivable

Accounts Receivable payments posted.

Petty Cash

Amount necessary to balance petty cash account back to 0.00.

Advance Hold

Advance Payments received from customers necessary to offset sales if the repair order has not yet been finalized.

  • Master Charge, Visa, Discover, AMEX, etc.
  • Hold necessary to handle the auto deposit option.
  • If the auto deposit for this payment type is checked, this amount transfers to the Checking account as a deposit.
  • If the auto deposit for this payment type is not checked, the amount transfers to the Master Charge account and does not hit the Checking account.
  • When you see these totals under Transfers To, those amounts are transferred to the Checking account. If you only see these totals under Transfers From, those amounts are not transferred to the Checking account.

Inventory

Total cost of parts sold on repair orders reduced the Inventory account.
Only Accounts Payable invoices coded to the Inventory account increases Inventory.

Accounts Payable

Amount of AP charged invoices coded to Inventory that were paid either by check or by credit card.

G/L Accounts or Expense Accounts

Amount of AP charged invoices coded to these accounts that were paid either by check or by credit card.

(Example: Small Tools, Freight)

In the accounting world, all transactions must have a debit and an equal credit. In other words, all transactions must balance. If you debit one account, you must credit another account for the same amount. The Account Transfers page also must balance. The Total Transfers to must equal the Total Transfers from.

See Troubleshooting for information on common errors and other information.