Petty Cash Management How to Perform a Reconciliation

This presentation shows you how to reconcile the petty cash account in the Cash Management System.

See the Introduction in the Library for an introduction into Petty Cash Management and an overview of how to set up your petty cash system.

This walkthrough assumes that the initial process setup has already been completed.

See How to Record Transactions in the Library for step-by-step instructions for creating petty cash logs and transactions.

See How to Manage Logs and Transactions in the Library for step-by-step instructions for how to manage logs and transactions.

Introduction

Petty Cash Transaction Logs Closing Through Reconciliation

Step 1: Launch the System

Step 2: Navigate to the Petty Cash Module*

* If the module doesn’t open by default.

Method 1: Use the Wizard

Step 1: Click on the Create New Reconciliation Link*

* This option is only available if there are open transaction logs.

Step 2: Select the Period That You Would Like to Reconcile

Select Period Drop-Down Box

Step 3: Verify There Are No Issues Preventing Closing the Reconciliation

Step 4: Count the Cash On Hand

Step 5: Enter the Cash On Hand

Cash On Hand

Step 6: Click the Next Step Button

Next Step Button

Step 7: Verify the Ending (Cash Over (Short)) Balance; Click Next Step

Next Step Button

Step 8: Check the Close Reconciliation Check Box; Enter Closing Details; Click the Next Step Button

Next Step Button

Step 9: Click the Create Final Report Button to Create the Final Report

Create Final Report Button

Step 10: Review the Final Report Summary

Review the Final Report Detailed Transactions

Step 11: Save the Final Report

Click the Export to PDF or XPS Button to Save the Final Report

Step 12: Give the Report a Name; Click the Publish Button

Enter the Report Name Here

Click the Publish Button

Step 13: Click the Close Print Preview Button

Step 14: Click the Link to Final Report Button

The Link to Final Report

Button

Step 15: Navigate to and Select the Final Report; Click OK

Navigation Box

The OK Button

The Final Report File

Step 16: Click the Finish Button to Close the Reconciliation

Finish Button

Step 17: Create a New Transaction Log for the Next Period (or Cancel)*

* If it has not been created already. See How to Record Transactions in the Library for instructions.

Step 18: Replenish the Cash in the Cashbox*

* The amount appears on the report.

Method 2: Use the Main Screen

Step 1: Click on the Go To Reconciliations Link*

* This option is only available if there are open transaction logs.

Step 2: Select the Period That You Would Like to Reconcile

Select Period Drop-Down Box

Step 3: Count the Cash On Hand

Step 4: Enter the Cash On Hand

Step 5: Enter the Closing Details; Click the Save Button

The Save Button

Closing Details

Step 6: Create the Final Report

Click the Final Report Button

Step 7: Review the Final Report Summary

Review the Final Report Detailed Transactions

Step 8: Save the Final Report

Click the Export to PDF or XPS Button to Save the Final Report

Step 9: Give the Report a Name; Click the Publish Button

Enter the Report Name Here

Click the Publish Button

Step 10: Click the Close Print Preview Button

Step 11: Click the Link to Final Report Button

The Link to Final Report

Button

Step 12: Navigate to and Select the Final Report; Click OK

Navigation Box

The OK Button

The Final Report File

Step 13: Review the Reconciliation Summary

Step 14: Verify the Reconciliation Messages Are OK

Step 15: Click the Close Reconciliation Button

The Close Reconciliation Button

Step 16: Click OK on the Reconciliation Closed Dialog Box

Step 17: Do a Final Review

Status Is Now Closed

Step 18: Replenish the Cash in the Cashbox*

* The amount appears on the report.

Step 19: Create a New Transaction Log for the Next Period*

* If it has not been created already. See How to Record Transactions for step-by-step instructions for creating petty cash logs and transactions.

Create New Transaction Log Button

Petty Cash Management Guides

Introductions ◦ Introduction to Petty Cash

◦ Introduction to the Petty Cash Management Module

Deep Dives ◦ Module Navigation

◦ How to Record Transactions

◦ How to Manage Logs and Transactions

◦ How to Perform a Reconciliation

◦ The Guide to Viewing and Understanding Reports

Library Home

Summary

Reconcile the petty cash account every month in order to best manage your cash.

There are two methods of reconciling the account in the Cash Management System:

◦ Use the Wizard

◦ Use the Main Form

The process is: ◦ Launch the Cash Management System and start a new reconciliation.

◦ Count the cash on hand.

◦ Enter the reconciliation details into the Reconciliation screens.

◦ Create, save, and link the final report.

◦ Verify and close the reconciliation.

◦ Replenish the cash for the next month.

◦ Create a new transaction log for the next month.

David Olson

E-Mail: David.Olson@DavidRobertsOlson.com

Phone: +66 86 924-8482

Skype: DavidRobertsOlson

All original content copyright © 2013 by David Roberts Olson. All rights reserved.

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