The CoreBridge Reconciliation is a process to verify that payment amounts entered into CoreBridge match the payments that were actually received. This helps ensure that customer payment records are accurate in CoreBridge and if you are exporting they will be accurate in your accounting software.

Reconciling your system should take place at the end of each business day. If your system has multiple locations, a Reconciliation will need to be completed for each location. 


If you are exporting CoreBridge data to your accounting software, payments will not export until they have been reconciled in CoreBridge.



Table of Contents






Completing a Reconciliation



1. Click the Reconcile Accounts button to begin reviewing your payments.


2. Select a Location.

Note: All payment information since the last reconciliation is retrieved.

3. Enter any Notes that you want to save along with this reconciliation.
4. Click Go To Step 2.
Note: If there are any discrepancies, the system will not allow you go proceed to Step 2 to complete the Reconciliation. 

Example: The difference in the Check section shown below.



Note: To have accurate financial records, review the information provided. If a payment was entered incorrectly, close the Reconciliation window, return to the Sales Module, correct the payment, then start the Reconciliation process again. See below for more detailed information.


5. Click Reconcile Now. 

Note: This will save the Reconciliation for later viewing and lock all reconciled payments.


   

Note: Once you have successfully completed a reconciliation, the reconciled payments can no longer be edited. If the wrong amount was reconciled, you will need to add additional payments or refunds in order to get to the actual amount of the payment.



Cash


a. Starting Cash -  The amount you had in your register at the end of your last reconciliation.
b. Payments - Clicking on the underlined number will open a pop-up allowing you to see payment details.
c. Actual Counted - The amount of cash in your register, including any amount that was taken out for purchases. 

Note: When cash is removed from your register we recommend placing a note or receipt in the register. The note or receipt should be counted as cash. Enter the total in the Actual Counted field.
d. Cash In - The amount of cash that was added to your register that is not from a customer payment.

Note: This increases Ending Cash.
You typically only do this on your first reconciliation so that CoreBridge matches what was already in your register. You can add an amount at any time if you decide to increase what you keep in your register.

e. Cash Out (Paid Out) - Any amount that was taken out for purchases; e.g., cash used for an office party. This amount is included in the Actual Counted field.

Note: This decreases Ending Cash.
f. In the Cash Out (To Deposit) field, enter the amount of cash being deposited.

Note: This decreases Ending Cash.
g. Ending Cash - This amount is equal to what will be left in your register after the Reconciliation is completed. Ending Cash will be Starting Cash on the next Reconciliation.




Checks

a. # Checks -   Represents the actual number of checks received.

b. # Transactions: Represents the number of times a payment has been applied to an invoice.
c. Actual Counted Total - Sum up the total of all checks and enter that total in the Actual Counted field.




EFT (Electronic Funds Transfer)
 

a. # Payments -   Represents the actual number of payments received.

b. # Transactions: Represents the number of times a payment has been applied to an invoice.
c. Actual Counted Total - Sum up the total of all EFT transactions and enter that total in the Actual Counted field.

Note: ACH and Wire transaction types are included.



Credit Cards


a. # Payments -   Represents the actual number of payments received.

b. # Transactions: Represents the number of times a payment has been applied to an invoice.
c. Actual Counted Total - Sum up the total of all credit card transactions and enter that total in the Actual Counted field.

Note: The amount should include payments only, not credit card merchant fees.



Other


a. # Payments -   Represents the actual number of payments received.

b. # Transactions: Represents the number of times a payment has been applied to an invoice.
c. Actual Counted Total - Sum up the total of all other transactions and enter that total in the Actual Counted field.

Note: The payment type Other is used when no other payment type applies. Other may not actually be a payment. It can be used when you need to close an order so that it doesn't appear on your A/R report. It can be used if you need to record a clearinghouse payment.





Refunds


a. # Payments -   Represents the actual number of refunds.

b. # Transactions: Represents the number of times a refund has been applied to an invoice.
c. Actual Counted Total - Sum up the total of all refunds and enter that total in the Actual Counted field.

Note: These transactions should be reviewed for accuracy as part of the reconciliation process.





In-Store Credit, Bad Debt, and Voided Orders.


a. # Transactions - Represents the number of times In-Store Credit has been applied to an invoice.

b. # Payments - Represents the number of Bad Debt payments made.

c. # Transactions - Represents the number of times Bad Debt payments were applied to an invoice.

d. View Details - If there are any voided orders, clicking this will open a pop-up with more information.
Note: These transactions should be reviewed for accuracy as part of the reconciliation process.



Viewing Completed Reconciliations



The Reconciliation History section contains all completed Reconciliations


a. Use the Search box to find exact information.

b. Filter by Date boxes and the Filter by Location dropdown to narrow down what is displayed.

c. Group - Checking this box gives you options to group reconciliations together. For more information, please see Reconciliation Grouping.
d. Id - The Reconciliation number that is automatically assigned to each Reconciliation.
e. Location- The Location (Sales Center) that was reconciled. Click the name to open the Reconciliation.
f. Date - The timestamp from when the Reconcile Accounts button was clicked.
Financial data for the specific location up to the noted date and time is included. Anything after the timestamp will be included on the next reconciliation for the specific location.
g. Cash Adjustments - Cash In minus Cash Out (Paid Out)
h. Total Collected - The total of all payments received.
i. Created By - The CoreBridge User that completed the reconciliation.




Reconciliation Reports


  • Payment Details - To print payment details, open a completed Reconciliation and click the Print Report button.


  • Deposit Slip - To print a deposit slip, open a completed Reconciliation and click the Print Deposit Slip button.



Frequently Asked Questions


Question: What information is shown on a Deposit Slip?

Answer: The amount entered in Cash Out (To Deposit) and all checks.

Examples:


Question: Is the bank account number displayed?
Answer: If you use the CoreBridge deposit slip when making a deposit, manually write in the account number. The account number is not stored in CoreBridge.