Sage 100

I know this has been discussed here before. I'm working with Sage 100 Standard 4.5 client processing credit cards through Sage Payments Solutions. Issue is that credit card cash receipts deposits don't go to bank rec. Don't know what Sage was thinking. How are you all getting around this issue? TIA

Send the cash receipts to a clearing account. Then write a crystal report to summarize the transactions by day which can then be imported into MAS via VI. The import will post to the cash account and create a record in Bank rec for reconciling.

Here is how I believe one of my customers handled this. They setup a bank code ""Z"" for credit card clearing. The CC payment code posted to a clearing account in the asset section. When the bank statement came in they went to cash receipts - used Bank Code ""A"" and did a cash receipt for miscellaneous item and charged against the asset clearing.

Thanks @JeffSchwenk for the quick response. Not sure how the client would react to having to buy the VI module but good to have as a possible solution.

Thanks @WayneSchulz that would work!

As @WayneSchulz indicates, they can always do it manually via cash receipt. I actually treat this as a safeguard which keeps crap out of the bank account.

Thanks again Wayne and Jeff. Client is going to set up bank code Z and use this during the day for all the credit card transactions. they are going to make a cash receipts deposit to Bank Code A when they close out the virtual terminal every day.

Do they have to close out the VT for any specific reason. I just have SPS auto close for my clients each evening. Nothing to remember.

@JeffSchwenk that's a good point. I will let them know about the auto close feature. It is better not to have to remember to do this. thanks again!

I'm not sure if it is available via the VT I always have to contact SPS and ask for it. Just one less step to deal with.

Client said they had already setup auto close with SPS.

We create up to 3 clearing accounts (Visa/MC, AMEX, and Discover) and code them in Payment Type Maintenance. When SO and CR registers are updated, the clearing accounts are debited. Client prints the daily settlement report from either SPS Virtual Terminal or PCC and uses report for a Cash Receipt Entry to the actual depository account with GL distribution credits to the clearing accounts. Bank accounts are debited in GL and update BR for the actual amount and the clearing accounts are zeroed out. If there is a balance in the clearing accounts, they know they did something wrong. Exception to the process occurs when a transaction is processes directly in SPS VT or PCC. No VI, no separate bank code.

The beauty of the Crystal report and VI is that the process is streamline for efficiency. It basically follows what @BobPfahnl is doing except the cash receipt transaction is done by the VI. I got the inspiration for this from @ThereseLogeais . Perhaps she will add her two cents to the thread but we may have to wait as it is FRIDAY night!!!!!

Yes, Friday night 4pm my time which is reasonable but really Friday night your time!

I've always wondered why you don't post in the mornings.....

Yes, it was Friday evening when I sometimes unplug from SC (not always but I try to...). My Crystal report pulls from AR_DepositHistory and groups by payment type (AMEX is separate) with one amount per day (can be run daily, weekly or monthly). It also calculates the AMEX fee and posts it to the expense account since they are deducted with each run. The VI job imports into Transaction Entry, debiting cash and crediting the clearing account. It also posts the AMEX expenses so in BR you have an AMEX deposit and an AMEX fee deduction to net to the actual amount deposited (occasionally, it is off by a penny due to rounding but easily adjusted). So simple. And we ALWAYS have the closing done automatically but you do have to contact them. If you go to the last tab on the right (Support/Technical?), there is info on how to do so, I believe.