Finalise

This stage of the process is required if no Update bank indicators are selected for the credit card on the Credit Card Maintenance form. Use it to reconcile the value requested with the value received, and adjust the clearing and variance general ledger accounts.

Select the Reference associated with the receipts to reconcile. You can only select references with a status of Receipts Created.

The Requested value defaults to the total requested for the receipt batch. For foreign currency transactions, the rate can be set to the rate at which the payment was received, in which case variance transactions are created.

Select the bank account of the reconciliation. When this is selected, the bank's general ledger account is taken from the Cash Management Bank Account Maintenance form, or the General Ledger Module Control form if the Cash Management module is not in use.

When the reference is first entered, the Dishonored value is equal to the full value of the request. This recalculates as the Amount received updates for each line. If the amount received is zero, the line is treated as fully dishonored and an AR journal is created.

The Variance value (updated to the nominated general ledger variance account) is the difference between the Requested value and the total amount received. A general ledger journal is created to represent this value.

Auto-fill all

Click this button to default the Amount required value into the Amount received column for each line. Each line may still be edited as required to indicate a variance, or cleared to process the line as a dishonoured payment.

Note: The Fill flag is not selected if the line is edited.

The batch numbers for journals created during this process updates to the Invoice Selection form for reference.