Overview
The CoreBridge Reconciliation is a daily closeout process that performs two important functions:
- Helps you catch incorrect payment entries so they can be fixed.
- Captures data that can sync/export to your accounting software.
The name of the process, reconciliation, implies that you are reconciling something against something else. What you are reconciling is (A) actual payments received against (B) what was entered in CoreBridge. It is similar to reconciling your bank statement to your accounting software. You are confirming that what actually happened matches what is recorded.
If wrong amounts are captured in a reconciliation, those wrong amounts will always exist on the customer record in CoreBridge and the wrong payment amount will sync/export to your accounting application. Fixing payment entry errors before capturing them on a reconciliation is much easier than fixing them once they have been saved.
General Information
- Performing a daily CoreBridge Reconciliation is critical to the accounting sync/export.
- If your CoreBridge system is "Live!" (entering real orders and payments), a CoreBridge Reconciliation should be performed at the end of each business day.
- Reconciliations should be performed while you are waiting for your 1st sync/export. There is no need to wait until the sync/export happens.
- If your CoreBridge system has multiple locations, a Reconciliation should be performed daily for each location.
- Users can keep working in the system while a Reconciliation is being performed. Any transactions that happen during the process will be captured on the next reconciliation.
- The date and time of the current Reconciliation will be set when the Reconcile Accounts button has been clicked. The date cannot be changed. A different date cannot be selected.
- Each Reconciliation contains all financial activity in CoreBridge that happened between the Reconciliation start date and end date:
Start Date = Previous Reconciliation Date
End Date = This Reconciliation Date
- Financial activity includes: Income / Bad Debt expense / In-Store Credit / Payments / Accounts Receivable / Deposit liability / Sales Tax