EFT Payroll Reconciliation - HELP!

Question

I have had success setting up our EFT Payroll (Orchid) with Sage 300. However, when I go to reconcile my bank through an OFX statement the bank has processed the payroll as a full total withdrawal and of course, on the Sage side, it sees the individual Payroll payments and their corresponding "cheque" numbers. 
 The amounts all equal each other, but I don't know how to get the system to understand that the individual pay cheques total up to the single amount on the OFX statement. Is there a step I am missing? I have searched online for a while and only found how to set up EFT not how to reconcile. 
 Please help, this is taking more time to figure out than it took to process payroll the old way. Christine

Prabha · Answer

Again, if you are using a clearing bank for payroll (check payroll options - processing - default bank ) then all your individual cheques would be in the clearing bank ONLY. If you are seeing cheques in your real bank then that means the payroll is using your real bank and not a clearing bank. 
 
 You do not reconcile the clearing bank normally since it would be zero after payroll is completely done. Your real bank will not know anything about payroll. After you have posted your payroll, you do a manual bank transfer for the lump sum of the payroll - take it out of the real bank and put it to the clearing bank to zero it out. 
 So your real bank should only have 1 line for the lump that and your OFX statement would have the same 1 line and they would match.

Prabha · Answer

Use a clearing bank instead of your real bank. All detail transactions will go to the clearing bank and then do a bank transfer for the lump sum to zero out the clearing bank and withdraw from the real bank.

Sage 300

EFT Payroll Reconciliation - HELP!

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