Overview

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


Video



Completing a Reconciliation

In CoreBridge go to Accounting Module > Reconciliation (in the black menu)

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

  2. All payment information since the last reconciliation is retrieved.
  3. 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.
       
  4. CASH
    Your Starting Cash is the amount you had in your register at the end of your last reconciliation.

  5. Click on any underlined number to see payment details. The link will open a new popup window.

  6. Count the amount of cash in your register, including any amount that was taken out for purchases. 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.

  7. In the Cash In field, enter the amount of cash that was added to your register that is not from a customer payment.
    • The amount increases Ending Cash.

      NOTE:  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.

  8. In the Cash Out (Paid Out) field, enter 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.
    • The amount decreases Ending Cash.

  9. In the Cash Out (To Deposit) field, enter the amount of cash being deposited.
    • The amount decreases Ending Cash.

  10. Verify that the Ending Cash 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.

  11. For Checks, EFT, Credit Cards, Other, Refunds, and Bed Debt, the reconciliation window will display both the number of payments and the number of transactions.
    • (A)# of Payments:  Represents the actual number of payments received.
    • (B)# of Transactions:  Represents the number of times a payment has been applied to an invoice.

  12. CHECKS
    Sum up the total of all checks and enter that total in the Actual Counted field.

  13. EFT (Electronic Funds Transfer)
    ACH and Wire transaction types are included. Sum up the total of all EFT Transactions and enter the total in the Actual Counted field.

  14. CREDIT CARDS
    Sum up the total of all Credit Card transactions and enter the total in the Actual Counted field.
    The amount should include payments only, not credit card merchant fees. The amount should be what you were paid which may be different than what will be deposited in your bank account after merchant fees are deducted.

  15. REFUNDS, IN-STORE CREDIT, BAD DEBT, VOIDED ORDERS, OTHER
    These transactions should be reviewed for accuracy as part of the reconciliation process.

    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.

  16. Enter any notes that you want to save along with this reconciliation.

  17. To continue, click Go To Step 2.
    If there are any discrepancies, the system will not allow you go proceed to Step 2 to complete the Reconciliation. (see difference in the Check section from the screenshot.

  18. To complete the Reconciliation click Reconcile Now. That will save the Reconciliation for later viewing and lock all reconciled payments.

  19. 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.


Viewing Completed Reconciliations

In CoreBridge go to Accounting Module > Reconciliation (in the black menu)

  • The Reconciliation History section contains all completed Reconciliations
  • Use the Search box, Filter by Date boxes, and the Filter by Location dropdown to narrow down what is displayed

  • GROUP
    This function is described in a separate support article.

  • ID
    The Reconciliation number that is automatically assigned to each Reconciliation.

  • LOCATION
    The Location (Sales Center) that was reconciled.
    Click the name to open the Reconciliation.

  • 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.

  • CASH ADJUSTMENTS
    Cash In minus Cash Out (Paid Out)

  • TOTAL COLLECTED
    The total of all payments received.

  • 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.
  • What appears on the deposit slip?
    The amount entered in Cash Out (To Deposit)
    All checks

    (Reconciliation screenshot)
    (Related deposit slip)
  • What about the bank account number?
    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.