Understand the Deposit Reconciliation Process
An automated deposit reconciliation process is available and is controlled by settings on the System Options table. The deposit reconciliation process allows you to reconcile deposit records with the information returned to you from your bank. The process also allows you to view a list of deposits, sort the information by field name, and drill down to varying levels of detail.
If the deposit reconciliation process is available at your site, when a deposit ticket is printed, or a cash receipt that bypasses the print deposit ticket process is processed, the Deposit Reconciliation table is updated with the deposit ticket number, the deposit ticket date, and the deposit ticket amount. Additional detailed cash receipt information is also updated to the Deposit Detail table. Before the deposit reconciliation process is run, records on the Deposit Reconciliation table have a status of Outstanding.
The automated reconciliation process compares deposit records received from your bank with records on the Deposit Reconciliation table. When the deposit ticket number, the deposit date, and the amount on the Deposit Reconciliation table match the bank record, Advantage Financial changes the status of the deposit ticket on the Deposit Reconciliation table from Outstanding to Confirmed and moves the record to the Confirmed Deposits table. The system moves any unmatched items from the Deposit Reconciliation table to the Deposit Exception table from where you can research and correct such records according to your internal procedures.
Alternative batch jobs are available for the Deposit Reconciliation Process. The alternative batch jobs utilize Confirmed Deposit Detail and Deposit Reconciliation Detail. Each batch process has its own requirements to execute, and careful consideration should be given prior to implementing, as detail reconciliation is very different than the ‘header’ reconciliation.
This topic includes the following areas:
Viewing confirmed deposit dataViewing confirmed deposit data
From Confirmed Deposits or Confirmed Deposit Detail, there is a row level action that navigates to Deposit Detail where additional transaction level elements can be reviewed.
Viewing exception deposit dataViewing exception deposit data
All deposit records that cannot be matched in the automated deposit reconciliation process are listed on Deposit Exception. Each record includes information about the deposit and a corresponding exception code indicating why this record failed during the reconciliation process. There are two basic types of exceptions: Activity that occurred in Advantage but did not match what the bank recorded and activity recorded at the bank that has never been recorded in Advantage.
When recording activity that has only been recorded at the bank, there are methods of augmenting that data for better research:
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A default department code infers to one established for easier exception research from Department BAI (DBAI) setup only when the Application Parameter, ASSIGN_DEPT_CD_TO_DPEXC, is set to true and the exception contains a BAI Code.
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A default department code infers to one established for easier exception research from Merchant (MERCH) setup only when the Application Parameter, DOC_CDS_DEPT_INF_FROM_MRCHT, is set to true and the Bank Deposit Number matches a Merchant ID. Additionally, a transaction code can also be inferred from that same setup.
After adequately researching and the resolution is:
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That the exception does not need to be recorded in Advantage because it was an error at the bank. Setting the Delete indication to true for the exception results in the next Deposit Reconciliation run deleting the record.
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That the mistake was the amount on the Advantage transaction and the bank file was correct, then there are two solutions. The first is to modify the transaction to have the correct amount. The second is to enter a second transaction for the same Bank and Deposit Ticket Number. Either method results in the exception being reconciled to Confirmed Deposits in the next reconciliation run.
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If the exception should be recorded in Advantage, one of several options is taken to get the transaction created so the next reconciliation run will move it from exception to confirmed.
Manually reconciling depositsManually reconciling deposits
If necessary, you can use the Deposit Reconciliation table to perform manual deposit reconciliation. You can change only the Status and Comments fields. Records cannot be added or deleted. If you do change the Status from Outstanding to Confirmed, the system updates the Last Action Date. However, note that changing the status does not initiate any other action, including the posting of accounting entries. If you need accounting entries to be posted, you must process the appropriate accounting transaction(s) to record them. The next run of the reconciliation process moves any records with a Confirmed Status to Confirmed Deposits.
