Cash Management and Bank Reconciliation Hints and Tips

  • The ‘Book Balance’ is the balance in Cash Management Module. It is not the General Ledger balance in General Ledger.
  • The Bank Balance (Book Balance) calculated in Reconcile Bank Accounts is the sum of any beginning balance entry made in Cash Management (CM), plus the outstanding transactions sourced from Accounts Payable (AP) checks, Accounts Receivable (AR) deposits, and CM transactions, including adjustments in the current batch.
  • GL does not write to CM. Any adjusting transactions that must affect GL and CM must be entered in CM Process Bank Transaction’s task.
  • The Bank Reconciliation should be reconciled in sequential date order.
    • It does not have any type of reversal method once the batch is posted.
    • Check the Bank Statements BIE to see the order (by date) of the reconciliation’s performed
    • The Reconciliation Date can only be used once and it cannot be changed once the batch is posted.
    • Cash Management Module uses Transaction date of the transaction while all the other modules reports normally use the Post Date of the batch.
    • The Aged Reports in AR or AP have an option to run by Tran Date or Post Date
    • The deposit date from the batch header in AR Cash Receipts is used in CM Bank Reconciliation and CM inquiries as the Tran date but in AR and GL the tran date is payment date.  
    • When reconciling balances between Cash Management (CM) and General Ledger (GL) the general information and troubleshooting tips are published in Sage 500 knowledge base under entry #19925.
    • If Module Integration to Cash Management is not selected, updates are still made to the following table: tcmCashTranlog
    • Use Set Up Tender Types to create and maintain the payments types that are used when processing cash receipts in Accounts Receivable and making deposits in Cash Management. Tender types can include cash, checks, credit cards/EFT, coupons, money orders, or drafts.
    • You can select the method to use to deposit the tender type when selected during cash receipt processing in Accounts Receivable:
      • Automatic - indicates that the payments received are automatically included in the deposit (you must select a bank on the batch form). Note:  Deposits are automatically available to reconcile in the Reconcile Bank Account when the transaction is posted.
      • Manual - indicates that the payments are not automatically deposited when you post a batch of cash receipts. You can manually include a deposit using Generate Deposits in Cash Management. Note: If you select Manual you need select them in CM from Generate Deposits. The AR cash receipts are not visible in CM Bank Reconciliation until you use the CM Generate Deposits task and select each deposit.
      • Never- indicates that payments are never included in the batch either automatically through Process Cash Receipts in Accounts Receivable or manually through Cash Management. Note: The deposits are never available in Reconcile Bank Statements
    Anonymous