Sage 100

v4.5 advanced.... Client just implemented Sage Payment Solutions... When they update the SO Sales Journal, a GL credit card account is debited. Why doesn't this transaction appear in the Bank Reconciliation as a deposit transaction? Is there a setting I am missing?

The Sales Order module does not integrate with the Bank Reconciliation module. The steps, according to Sage, are: 1 - SO debits some sort of Deposit account 2 - Cash Receipt is posted as a credit to the same Deposit account - this is where Bank Rec is updated (This cash receipt does not have to be posted to any particular customer since it does not show on their account.) This method is the same as used for any deposit - and gives you the flexibility of posting to cash when the money is actually received. But tracking sort of sucks.

...because it doesn't. I hear this from clients all the time. Even if you set the GL Account to be a Checking GL Account; tied to a bank account code, it does not post. Working as designed. Proper procedure is to do a Transaction Journal Entry each morning, after you confirm the actual dollar amount deposited to your Cash (Checking/Savings) Account.

Thanks ladies. i was afraid of these answers... but doesn't surprise me..... Seems to me if the sales journal update can charge the credit card and create a journal entry, it could also update the bank rec module..... or at least provide an option to do so.

But each cc type posts at different times, i.e. AMEX is a day or two later than Visa/MC/Disc. You can't automatically hit bank rec until you KNOW it has hit your bank account. Just my .02....

End of month charges can show early in the next month.

All good points... however... even though it hasn't hit the bank account it is a deposit in transit... still an increase in cash... too bad it can't post to bank rec with a default check box or something... you could un-check the transactions that are deposits in transit.... seems like that would be less work than having to enter several hundred credit card transactions in cash receipts entry every month..

Just totals each day - don't have to post in detail, since they should, in theory, hit the bank in summary. Although you usually do have to post AMEX separately (but again, just in total).

It may be a increase in a receivable but most accounts would argue that it isn't cash. When I help client's set up CC Clearing accounts, I set the account up in the receivable section of the balance sheet, not cash. Yes, it is an extra step but as @ThereseLogeais points out, timing is everything. I also sent up ""customers"" in AR so that clients can post the actual cash using AR cash receipts entry. Transaction JE's also work now, but in the old days, not so well. I have thought about creating a VI to import the transactions, but no client has asked about one.

I created a VI job to do that, which included putting in a UDF for Bank Code on the Payment Type Maintenance screen because this customer had credit cards go to one account and cash/checks go to another EXCEPT for 2 locations, which.... never mind. Anyway, it can be done.

Good to know others are DOING what I am THINKING......

The problem is that the CC won't post at the bank for the same amount that posts on your S/O register. For example, the register might be for $1,000 but because of the mix of different types of cards being charged, the bank may post $800 today, $100 tomorrow and another $100 the next day. It would create a reconciliation within a reconciliation. You really have that already, however, if you delay the posting on the B/R until you see the credits on your bank account, you make it easier to do one of the recons. Imagine if it's amplified by a great many more transactions than just this simple example.