After all A/R checks have been posted for the day, you can complete a payment reconciliation. Payment reconciliation allows you to quickly and easily verify that all checks have been posted and that the correct check amount has been posted. After completing a payment reconciliation, you have the option to print a list of the payments. This list of check numbers and check amounts could be attached to your bank deposit slip.
Post all payments in the Received on Account window.
Click Misc.
From Miscellaneous list, click Reconcile.
In the Check Amount box, type the amount of one of the checks and press ENTER.
If the amount you entered matches one of the payments in the Payment Reconciliation grid, a check-mark is automatically placed in the check box next to that check.
Continue entering checks in the Check Amount box until all checks have been entered and all the checks in the Payment Reconciliation grid have been checked off.
If you want to exit without reconciling all checks, click Continue Later. The next time you open the Received on Account window, you will be asked if you want to continue the existing session. Be sure to answer Yes if you want to continue with the session you were working on previously. If you answer No, the system does not save the session for recall at a later date or time.
In the dialog that displays, click the button to print the reconciliation if you want a printed list of the checks.
If you do not want a printed list, click the button to purge the reconciliation.
If you want to return to the Payment Reconciliation grid, click the button to cancel.
After reconciling all checks, click Purge. Click Yes. Note that you cannot purge a single check from the reconcile grid. If you select a single check and click purge, the system will purge ALL checks in the grid.
You can manually select or unselect a check by clicking the check box in the grid.
As you enter check amounts in the Check Amount box, the Selected amount will increase. The Selected amount will continue to increase until the Selected amount equals the Total amount and the Difference is zero.
If you enter a check amount that is not found in the grid, you will be prompted for the check number. Enter the check number to locate the check in the grid. From there you can determine if the check amount was incorrectly entered.
After entering all checks, if there is still a Difference amount, it could indicate that you missed entering a check. Sort through your copies of the checks to see if there is one that matches the Difference amount.
A QuickTip video is also available to help you learn about payment reconciliation. To view this QuickTip, go to http://www.activant.com/eagle-customer-support/, and click Training Browser. When the Training Browser displays, click Videos in the left pane, click Quick Tips, and then select Accounts Receivable.