Review Other Payments

Checks

A payment type of Check should represent an actual physical check that can be brought to the bank. Even if you use remote check deposit by scanning or taking a picture of a check, the payment type should still be "Check" since you were given an actual check.

  • Total all checks
  • Enter the value in Actual Counted: Total $
  • If difference = 0 there is nothing else to do.
  • If there is a difference, close the reconciliation, fix the problem, then start a new reconciliation.

EFT

Electronic Funds Transfer
A payment type of EFT should represent an electronic payment. 
This section groups both EFT types: ACH and Wire.
  • Determine the total of all EFT payments from source documents.
  • Enter the value in Actual Counted: Total $
  • If difference = 0 there is nothing else to do.
  • If there is a difference, close the reconciliation, fix the problem, then start a new reconciliation.

Credit Cards

A payment type of Credit Card should represent a payment processed through a credit card processor.

  • Determine the total of all credit card payments from source documents.
  • Enter the value in Actual Counted: Total $
  • If difference = 0 there is nothing else to do.
  • If there is a difference, close the reconciliation, fix the problem, then start a new reconciliation.


Other

A payment type of Other should represent a payment that doesn't fit the other categories. (e.g. clearinghouse, barter)

  • Determine the total of Other payments from source documents.
  • Enter the value in Actual Counted: Total $
  • If difference = 0 there is nothing else to do.
  • If there is a difference, close the reconciliation, fix the problem, then start a new reconciliation.


Refunds

A Refund can be any payment type.

  • Click the link under # Payments
  • A new window will appear showing the refunds entered by users.
  • Review each refund to determine if it is valid.
  • If there is a refund that is not valid, close the reconciliation, fix the problem, then start a new reconciliation.
  • If all refunds are valid, close the transaction window then enter the value from Amount in Actual Counted: Total $




Review In-Store Credit, Bad Debt, and Voided Order Transactions

These three sections don't require an entry. They are for review only.

In-Store Credit

This section displays In-Store Credit activity.

  • Manual addition of credit
  • Manual reduction of credit
  • Refunds to in-store credit
  • Refunds from prior credit given


Bad Debt

This section displays Bad Debt payment activity. 


Voided Orders

This section displays orders that have been voided.

  • If you need to open a voided order that must be done outside of the Reconciliation window.



Next Steps:

Understanding Financial Information on the Reconciliation

Completing the Reconciliation