1. Gather Source Documents
- Source documents are what you will use to calculate the actual amounts that were paid by customers. These are the amounts that are being reconciled against what was entered in CoreBridge.
PAYMENT TYPE SOURCE DOCUMENT Cash Cash and receipts for cash purchases (from a cash drawer, box, till, etc) Checks Checks EFT 1. Report from the financial institution where EFT payments are processed.
2. e-mail or text noticeCredit Card Report from your credit card processor. Could be from a terminal or online merchant website. Other Report from the source where Other payments are generated Refunds Could be any of the above
2. Start the Reconciliation Process
A. Navigate to Accounting Module > Reconciliation
B. Click the Reconcile Accounts button. The Reconciliation window will open.
C. If your system has multiple locations, select the location you want to Reconcile using the Select Location drop-down. If your system has only one location it will automatically populate.
- For systems with multiple locations, each location should be Reconciled daily.
D. All financial information since the last reconciliation is retrieved for the specific location.
- Previous Reconciliation Date: This is the date and time of the previous Reconciliation for the specific location.
3. Review and Verify Payments and Refunds
INSTRUCTIONS
- Working through each section, calculate the total of each payment type using source documents.
- Enter the total in the Actual Counted box.
Actual Counted should match Amount / Calculated Total.
Amount / Calculated Total is the system-calculated total of payments entered.
If the amounts don't match, the discrepancy will show in Difference. The Reconciliation cannot be saved if there is a difference.
If there is a difference, close the Reconciliation, identify and fix the discrepancy, then start the Reconciliation again.