Reconciliation Grouped By Deposits

Overview

In this document, the feature of Reconciliations being Grouped by Deposits will be discussed. This feature will make the reconciliation more efficient and in that the payments are grouped into one deposit with a total that will match the deposits listed in the bank statements.

This document also discusses other newer features in the reconciliation screen.

Assumptions

We will assume throughout this article that the person using these features understands the month end reconciliation process from an accounting standpoint.

General Concepts

Accounting Manager - Reconciliation Search Screen

• The search filters in the Reconciliation Search screen are automatically saved and will pull up the same results until changed.

• The filters will remain the same as what they were last set as for the duration of the current session of Savance Enterprise and will reset to “today’s” date when you exit the system and open a new session.

• Also notice that the Date Created column is sorted by newest first.

Reconciliations Grouped by Deposits

• On the reconciliation screen, individual payments are grouped into deposits.

• The Payment (parent) line will show the total of the individual lines (child) that was in that deposit.

  • Also notice the payment references.

• The parent line will have each method in that deposit separated by commas.

• You can click the plus button by each payment group to view the individual lines in that deposit.

  • The plus button becomes a minus button when opened so you can close that folder again.

  • Lines with no parents, like a journal entry or an AP Check, will be listed individually and have no total line or plus/minus button.

• To checkmark the parent line, each payment (child) checkbox will also be checked. You can not uncheck or check individual payment (child) lines.

• The Automatic Bank Matching Function only matches by deposit because you can no longer match individual payment lines.

• There is also an option to search with in Deposits in the search criteria in the header.

• By default, this checkbox is unchecked, so the search criteria will search only by the deposit line.

• But if checked, you could search from within the deposit.

  • This is most helpful when searching for totals versus individual payment amounts.

Reconciliation Report Grouped by Deposits

• The reconciliation report allows you to run the report by the deposit level or to show each payment line in the deposits.

• The report is set to only show the deposit level by default.

• The lines with no parent, like a journal entry, will show either way.