Sage 100

If a customer pays an invoice with a credit card and the cash receipt is entered in AR, Cash receipt Entry, does the deposit post to bank reconciliation in any of the current versions? Do we still have duplication of work entering the transaction twice?

I have been asked for this by the customer as well, but that is not the way credit card deposits work. If you have 10 CC charges in one day, they don't get posted to your bank account as 10 different entries, they get posted as one lump sum deposit. You can change the set up to post to the cash account in MAS and post them charge by charge, but that will cause you to do an Easter Egg hunt at bank rec time. I recommend to customers that they enter another cash receipt for the bank deposit and post the lines to the accrual account. I stay away from the Transaction Journal Entry as much as possible. My explanation is that it is not duplicate work. The first transaction is the posting of a payment against the invoice or sales order X 10 CC charges. The second entry is the posting of the deposit to the bank account. MAS has spoiled us with the one step recording a payment against an invoice at the same time as entering the bank deposit. Acumatica and other ERPs are broken out into 2 steps intentionally. One to record a payment against an invoice and then a second one when the deposit is made in the bank account.

@CooperBlack ""I recommend to customers that they enter another cash receipt for the bank deposit and post the lines to the accrual account."" Do you mean customer 00-cash and debit AR and credit AR? Transaction 1 - customer 00-ABC Debit Cash and Credit Accounts Receivable. Transaction 2?

@DougHiggs I do recommend some customer like 00-cash. My transaction is typically a debit to cash and a credit to the cash accrual account that is set on the CC payment type.

Got it. Thanks. Good solution.

This is somewhat confusing and painful for new users. What I've done for a high volume CC customer is create a Crystal Report which reads the amounts from invoice history, then we create a spreadsheet for review and ultimately import using VI to cash receipts. We pair the amounts up to match what shows on the bank reconciliation. This is done monthly which seems to lessen the overall workload of managing the CC charges.

@DougHiggs I usually sent up a customer for the CC merchant payer, not use the 00-cash option. Also, depending on how frequently customer posts the bank account cash, I have a VI import for these merchant account deposit. Client can download from bank web site and upload the transactions based on the deposit date. If customer wants to keep cash account current, they can look online each morning and do a manual cash receipt posting daily.

Sage is missing a revenue opportunity here to create a module that captures all these stray CC charges and displays them on a screen where the user could click and pair them up for deposit to the bank. I bet most larger customers would pay $1,500 - $2,000 a year for a seamless way to manage these chargers which hopping from export to Excel to VI.

These are all great ideas for managing a time consuming process.

Probably on the road map for 2021 but you have to be on platinum tech support, subscription pricing AND have more than 9 users, all on Windows 11....... This will also be a web based transaction based app.

@JeffSchwenk Did you forget --- you'll probably need to purchase new Office 365 licenses, naming Sage as your Microsoft Partner, in order to use the functionality ?

Dang, thanks for catching that!!! very true.

But wait, Acumatica already has such a thing....

I like the software but not the customer acquisition tactics.