Payment Clearing is a clearing account in the traditional sense. When all related transactions are posted into accounting this account should be cleared to $0.00.

 

Related transactions means the Acme Tickets and their related Cash Tray Reconciliations. It is important to note that Ticket Batches and Cash Tray Reconciliations can over-lap time periods. For example, if you post transactions into accounting mid-day, but you do not reconcile the tray and post it into accounting until the evening, during the afternoon the clearing account will not be clear.  

 

If your clearing account isn't clearing you should check several things...

 

1.Are Tickets and Reconciliations all posted through the same day? See Related Transactions above.

2.Were any Cash Tray Sessions NOT reconciled? -Call the stores and have them look or check payment clearing for activity vs expected activity. For example if they reconcile twice per day, are there two debits to payment clearing per store, each day?

3.Do the Acme Sales Report and reports in your accounting system tie out? (see reports to tie out below)

4.Do Cash Tray Reconciliations match the actual bank deposits? If not, someone may have forgotten to enter void transactions into the CT Reconciliation screen. You could have each store run the Acme Ticket List for Voids and make sure totoal voids are entered into their respective Reconciliation.

 

How to fix...

 

1) Run the Acme Sales Report.

 

•Set the option grid to "Sum Change with Cash Receipts" so you don't have to subtract change given out from cash taken in.

•Use whatever date range necessary.

•Print the report and review the Receipts and Pay Out sections. If necessary summarize receipts by Payment Type. Print the reports in each store as well as in Central, then compare the sum of the stores to Central.

 

2) Tie out the Acme Sales Report to your accounting system. In Acme Data pump tap >Setup >Setup Hints to get PDF document that explains reports you can use to tie out Acme and Accounting. This ensures all transactions have posted to accounting.

 

3) Then credit (usually) Payment Clearing down to $0.00 and debit the appropriate GL accounts by Payment Type. These can include:

 

•Bank Account. For cash and checks, maybe credit cards. Tie to your actual bank balance.

•Credit Card Receivable Account, if not included in above. Check difference between credit cards taken and funds received.

•Credit Card Processing Expense.

•Gift Certificate and or Gift Card  Liability Accounts. Payments made with gift cards/gift certificates debit these liability accounts.

•Manufacturer Coupons Receivables Account.

•Cash over / short.