Bank Rec

Question

Bank Rec 
 
 I have a quick question in regards to Bank recs in sage 300 construction ... Can you please advise what applications are captured in Cash Management .. can i post a bank charge / transfers as a Journal Entry in GL? will that be captured in CM? 
 Furthermore , can i post entries from AP directly to the bank without using the clearing accounts? 
 
 thanks a lot ..

Art Minds · Answer

Mugo, 
 
Cash Management feeds entries to GL, not the other way around. If you have to post a bank charge, or a cash transfer between accounts that you maintain in CM, you would book the entries in CM, and in the case of bank charges or other miscellaneous debits that hit your accounts, or miscellaneous deposits that aren't entered through Accounts Receivable, you indicate the offsetting GL accounts. There is a bank transfer function within CM that utilizes a "Cash Transfer Clearing" account that you specify in the CM > Settings. 
 
I don't exactly understand your question about AP needing a clearing account. Checks written in AP automatically post detailed entries to the CM bank account used to write checks, with an offsetting summary entry posted to the GL Accounts Payable account. 
 
To keep your CM bank accounts in agreement with the respective GL accounts, you would never want to use GL > Record Entries to affect a GL bank account balance. 
 
Art Minds 
Independent Consultant 
Pasadena, CA

Art Minds · Answer

Mugo, 
 
The GL assignment for each CM bank account is found under CM > Setup > Bank Account on the "GL Cash Accounts" tab. There is an option for each bank account to use separate cash accounts per application, where you can link a bank account to specific GL accounts for AP, Payroll, Receivables, Property Management and Residential Management. I have not used separate cash accounts in any installation that I've performed, nor do any of my current clients use separate bank accounts. I have also not seen a configuration where the bank account is assigned to a GL clearing account rather than the actual GL account representing the bank account. 
 
I'm not sure I understand what you're describing regarding AP posting payments to a clearing account, and then someone posts those entries to the actual bank account. When writing checks in AP, the bank account selected to print checks is a CM bank account. Each and every check written in AP from a specific bank account will be entered in detail in CM to that bank account as a "subtraction" and a summary total of the check run will be credited to the GL Cash Account specified on the CM Bank account setup. The debit account for a check run is usually the GL Accounts Payable account.. There is no need for any manual entries in CM arising from a check run in a normal configuration. 
 
Your access to various settings in the system are controlled by security permissions, and if you don't have access to some of the settings I'm describing you may not have sufficient security permissions. 
 
I would be happy to speak with you by phone if you would like further explanation or have additional questions. You can send a private email to me with contact information. 
 
Regards, 
Art Minds 
art.minds@artminds.com

April Dahl · Answer

Hi Mugo, 
 
We have a knowledgebase article with a workflow to perform a bank transfer using a physical check. This workflow uses a clearing account. The article ID is 29756. 
 
As far as reconciling your bank statements, knowledgebase article 31675 has instructions for that. 
 
You can access the knowledgebase at https://support.na.sage.com 
 
April Dahl

Sage Construction & Real Estate

Bank Rec

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