Reconciling Your Cash Box

The Cash Box general ledger account represents the amount of money in your cash drawer (cash box) at any moment in time. As you enter orders and payments throughout the day, the amount in your actual cash box goes up, and the Cash Box general ledger balance goes down.

The Cash Box Reconciliation and Deposit helps you manage all aspects of balancing your cash box monies with your G/L clearing account to make sure that all payments and expenses over the course of a day are accounted for.

When you deposit money from the cash box into the Cash in Bank account, record a miscellaneous cash receipt. Before you do this, however, reconcile the money in the cash drawer to the system totals to ensure they match. Different companies have different philosophies regarding their cash box. In addition, before you reconcile customer credit card payment and deposit funds into your bank accounts, you must reconcile the cash box and move all the credit card payments received into a G/L clearing account.

Before You Begin

Consider the following before you begin the reconciliation process:

• Run the Cash Box Journal Report to get the totals you need to reconcile your cash box.

• Check the Cashbox Reconciliation Defaults control maintenance record to setup defaults you want to use for reconciling your cash box, the Bank or G/L Account you use for branch.

For a visual representation of this process, see the Cash Box Reconciliation workflow.

To reconcile your cash box:

1. From the A/R menu, select Cash Box Reconciliation and Deposit to display the reconciliation tool.

2. In the Branch field, enter the branch for whose cash box you need to reconcile.

3. Use the following fields to enter information you need to create miscellaneous cash receipts, if needed. Default information displays based on entries in the Cashbox Reconciliation Defaults control maintenance record.

4. Use the remaining fields to enter your current totals, deposits, and payments:

   Field	Description
   Cashbox G/L Balance	(View Only) The system populates the current balance for the G/L account for the selected branch.
   Cashbox Journal Total	Enter the total for your cashbox, based on the results from running the Cash Box Journal Report.
   Cash to Deposit	Enter the total amount of cash on hand you have to deposit to the specified bank. Use the Cash Reconciliation Worksheet to quickly count the cash you have on hand.
   Checks to Deposit	Enter the total amount of dollars from check you have to deposit to the specified bank.
   Total Cashbox Deposit	(View Only) The system adds the totals from both the Cash to DepositandChecks to Depositfields for a grand total of the cashbox deposit dollars.
   Credit Cards Processed	Enter the total amount of dollars from the credit card receipts you have to process.
   Total Cashbox Payments	(View Only) The system adds the totals from both the Total Cashbox Deposit and Credit Cards Processes fields for a total of your cashbox payments.
   Over/Short posting	(View Only) The system subtracts the value in the Cashbox Journal Total from the value in the Total Cashbox Payments for a value of dollars you are over or short for postings. This is a write off amount. Standard Over/Short Write Off processes apply. The system displays the Over/Short G/L account based on entries in the Cash tab on the Cashbox Reconciliation Defaults control maintenance record.

5. Exit the window. The system creates any required Miscellaneous Cash Receipts.

How Eclipse Creates the Miscellaneous Cash Receipt

After balancing your cash box and exiting the window, the system creates a Miscellaneous Cash Receipt.

All Miscellaneous Cash receipts select information from the Cashbox Reconciliation Defaults control maintenance record, and always list the Cashbox G/L on the first line of G/L accounts. After that, the following parameters are true:

• If the Combine With Checks? column is set to Yes on the Cash tab in the Cashbox Reconciliation Defaults control maintenance record, then the system creates one miscellaneous cash receipt the defaults from the control record and the amount from the Total Cashbox Deposit field.

• G/L Account is set to the Cashbox G/L Account as indicated in the G/L Automatic Postings with the amount from the Total Cashbox Deposit field.

• The Over/Short G/L is retrieved from the Cashbox Reconciliation Defaults control maintenance record.

• the Combine With Checks? column is set to No on the Cash tab in the Cashbox Reconciliation Defaults control maintenance record, then the system creates separate miscellaneous cash receipts with the amounts from the Cash to Deposit and Checks to Deposit fields.

• Credit card payments always create a separate cash receipt.

Using the Cash Reconciliation Worksheet

Use the Cash Reconciliation Worksheet to tally your bills from the cashbox. Count each denomination separately and the system does the addition for you. Then, you enter the amount you had in your cashbox to begin with. The system subtracts that number from the total cash and indicates how much you should be depositing.

For example:

See Also:

Cash Receipts Overview