Sage 100

v2015 Advanced - I need your help. I have a client that just hired a new accountant. They do a lot of online credit card business and use Sage Payment Solutions. The accountant is having a tough time reconciling the bank account because of the detailed credit card transactions posted in the ledger. Below is part of the email from the accountant: "" I have tried in several combinations but am not able to combine the deposits of same day with the different paid sales orders in Sage, how should I match these deposits, as I see a lot of deposits already entered in Sage."" Thoughts?

Doesn't SPS have a report that breaks this down on the portal?

For one customer we set up a nightly report / import to Bank Rec with a day's cc deposits, based on data entry date. Back-dating transactions will make things more difficult with the SPS deposits based on when the transaction was entered, not the posting date.

Are they printing/using the AR Credit Card Settlement Report?

Are they writing to the cash account from Sales Order deposits, instead of to a deposit account and then doing Cash Receipts once per day?

DITTO to what Beth said. It sounds like they have CC Payment type set to post directly to Cash Account. instead they should have the CC payment type set to post to a clearing account (GL account used only for these transactions. Example: ""other receivables"") then every day they do a cash receipt entry for the total amount of the batch for that day (probably done the day after actually). Then on the lines tab they use GL distribution instead of invoice numbers and enter the credit to that clearing account. This way only one amount per day hits the bank reconciliation. The credit card settlement report can be used as the documentation for the Cash Receipt Deposit and it will match the individual transactions that hit the clearing account.

Thanks everyone for the terrific information. I am going to investigate the setup further. They have been using SPS for several years and just recently has this become an issue. I don't recall how I set it up but it definitely needs a review and most likely some improvements.

What @DavidOverholt said. Bigger companies have been doing this for a long time now and the smaller companies who are our clients are starting to catch up. Part of the problem lies in the fact that some credit card types take longer to post to the bank account (I'm looking at YOU, AMEX) so reconciling a daily total is a royal pain.

I have created a Crystal report to group by payment type (Visa/MC/Disc and AMEX) and by date and then set up a VI job to first, import the cc deposits by date then second, to import the AMEX fees (calculated in the rpt), both into GL Transaction entry. You do have to figure the net of the AMEX deposits in BR but it is functional.

What @DavidOverholt said.