📝 Overview
Cash reconciliation helps ensure the cash you expect to have matches the cash you actually have at the end of the day. By entering a starting balance at the beginning of the day and an ending balance at close, the system can automatically calculate discrepancies and provide clear reporting.
💵 How to Start a New Cash Reconciliation
Before opening each day, you should begin a new cash reconciliation by recording the starting amount of cash on hand. To begin a new cash reconciliation at the start of the day, follow the steps below:
Click on Billing and select Cash from the left hand navigation
Click on Cash and select New Reconciliation
The date will default to the current date (this can be adjusted in circumstances where a day may have been missed). Enter in the Starting Balance and click Save
🔒 How to Close a Cash Reconciliation
It is important to enter in the ending balance in order to properly keep track of the cash on hand. To close a reconciliation at the end of the day:
Click on Billing and select Cash from the left hand navigation
Click View Reconciliations
Locate the current day’s reconciliation. Click the gear icon and select Edit Reconciliation
Only enter the Ending Balance and click Save
📊 How to Review the Cash Reconciliation Report
The Cash Reconciliation report provides a detailed breakdown of all cash transactions for a selected time period. This report:
Itemizes all cash activity
Uses the starting and ending balances from each reconciliation
Automatically calculates discrepancies between:
The entered ending balance, and
The system-calculated ending balance
How to Access the Report
Click on Reports and Billing within the left navigation
Find and select the Cash Reconciliation report
The default will be for the current day. You can filter the report as needed by selecting Filter on the top left. Additionally, you can export the report as needed from the Export option next to the filter button
💡In addition to daily cash reconciliation, you may also find the Accounts Receivable Reconciliation Report helpful for tracking outstanding balances. Click the button to learn more.
❓ FAQs
Find answers to common questions or additional details that may not be covered in the main instructions
Click the arrow to view frequently asked questions
Click the arrow to view frequently asked questions
What happens if my ending balance doesn’t match the report?
The report will show the discrepancy between the expected ending balance and the amount you entered, helping you identify shortages or overages.
Can I edit a reconciliation after it’s saved?
Yes, you can edit an existing reconciliation by selecting it from View Reconciliations and clicking the gear icon.
Do I need to enter an ending balance when starting a reconciliation?
No. Only enter the starting balance at the beginning of the day. The ending balance should be entered when closing the reconciliation.