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Status New idea
Workspace Reckon One
Categories Banking
Created by Guest
Created on Oct 30, 2021

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Merge bank entries with a common reference for reconciliation

Entering receipts in detail results in a unique receipt reference generated by Reckon One. But I need the input field Reference to collect all entries in an EFTPOS settlement into one amount to match Merchcant Services daily settlement

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    Jason Hollis
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    |     Nov 2, 2021

    Hi John. Our enterprise software has a concept of "undeposited funds" which is exactly for this purpose, where you batch many receipts into a single bank deposit for reconciliation. As Reckon One does not have this function at the moment (so we'll leave the idea in place), in the meantime the process is to bank your receipts to a 'clearing' bank account, and then create a transfer to move that balance to your bank account. Of course the clearing account (eg "EFTPOS clearing") should balance back to zero every day, but we all know EFTPOS doesn't always work out like that, so using the clearing account also highlights where there is a settlement vs bank deposit mismatch for you to chase up.