Channel: Banking – Restaurant365 Customer Center

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ACH Payment Set-up

June 12, 2015, 8:48 am

Restaurant365 has the capability of paying vendors by ACH (Automated Clearing House) payment. There are some system set-up requirements so follow the set-up steps below to use this functionality to pay one or more of your vendors.

Vendor Set-up

There are a five fields on the ‘Vendor’ record that need to be updated prior to creating ACH payments.

Payment Method – Payment Method needs to be set to ’ACH’
Bank Account Type – Select the vendor’s bank account type. Either Business Checking or Business Savings
Bank Account Number – Enter the Vendor’s bank ‘Account Number’ that you will be sending the ACH to.
Routing Number – Enter the Vendor’s bank ‘Routing Number’
Email Address – Enter the ‘Email Address’ of the vendor contact you will be mailing the ‘ACH Stubs’ to.

Update the fields identified above for processing ACH payments, then select ‘Save & Close’.

Once you have completed the set-up process you can now pay Vendors by ACH. To learn more about creating an ACH Payment, click on the link below to view the Restaurant365 Check Run training Modules.

Check Run Training

That covers the basics of ‘ACH Payment Set-up’. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Bank Deposit

June 15, 2015, 9:54 am

≫ Next: Bank Withdrawal

≪ Previous: ACH Payment Set-up

The Bank Deposit window is used to record the depositing of funds, from any source, to one of your cash accounts.

To open a new Bank Deposit, click on ‘Banking’ in the top ribbon and then select ‘Deposit’.An Unsaved Bank Deposit window appears. The first field is an auto-generated ‘Number’ field. This is used for reference purposes only and should not need to be changed. Select the ‘Date’, ’Checking Account’, and the ‘Location’ for this deposit. Add an optional comment if desired.

Now that you have updated the header information of the deposit, you can update the deposit amount in the detail section of the deposit. The first tab is labeled ‘Undeposited Payments’. On it are listed all the receipts that have yet to be deposited in your bank. You will use this screen to group them together, in the same manner in which they hit your bank account, and then record the deposit. The first column on this tab is where you will select individual payments. The second column displays the date the payment was received. The column labeled ‘Transaction’ displays a detailed description of the payment. You can drill down into any given payment by clicking on the blue transaction name on any row. Next is the Payment Method column. Click on the words ‘Payment Method’ to sort the data in the grid by the payment method or click on the small triangle to the right of the word to restrict the view to a specific payment method. This is very helpful when grouping together deposits of a similar method across multiple days. For example, if I am looking to group together two or more American Express deposits from separate days that hit my bank as a single deposit, I would restrict the method by American Express and then sort by date by clicking on the ‘Date’ column. This makes it easy to then pick and choose dates until I find the right combination of days that matches my bank statement. Payment Methods are self explanatory. Note that ‘Deposit Amount’ will include the daily deposit amounts from the Daily Sales Summary transactions and any payment from a customer entered in the AR Payment screen (if when received, the option ‘Deposit later with other payments’ was selected at the time of entry).

Check the payments for this deposit.

My grandma used to say, “there is many a slip between the cup and the lip.” It applies well to depositing money in the bank. There are several reasons the amount actually deposited doesn’t tie directly to the amount of the Daily Sales Summary or AR Payment. Everything from money being pulled out and used for an emergency on the way to the bank to the bank counting it incorrectly. Whatever the reason, the easiest way to account for the discrepancy is to record the difference on the ‘Adjustment’ tab after selecting the payments to be deposited. You can adjust the deposit amount up or down, depending on the scenario.

To do so, select the account you will be booking the adjustment to (this may be ‘Over/Short’ or a specific expense/income account if we know the reason for the difference), then the amount, add a comment, then select the location, legal entity, or concept it applies to. Then hit ‘Add’. Be sure to enter a positive number for an increase adjustment or a negative number for a decrease adjustment.

The Adjustment tab on the bank deposit window can also be used on it’s own to record miscellaneous deposits not related to any previously received payments.

Once selections are made that match how the funds were deposited for a single deposit in your bank (meaning the Deposit Total in the bottom matches the line item amount on your bank statement), hit the ‘Approve & New’ button in the ribbon and then repeat this process for each of the deposits on your bank statement. In essence, you are replicating the manner in which the funds were deposited in your bank thereby making the bank reconciliation process a simple task.

After approving you will see that the Deposit Amount has been updated.

Keep in mind that if subsequent to making a deposit, the bank makes an adjustment to the amount deposited, with the right security permissions you can also open back up the deposit, unapprove it, make an adjustment, and then approve it again. One quick note: if a deposit has been included on a bank reconciliation, it will no longer be available to be unapproved.

A final comment about Bank Deposits: Please refer to the intercompany training to learn about the implications of making a deposit to a checking account held by one legal entity with the funds originally accounted for in another legal entity.

That covers the basics of ‘Bank Deposit’. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Bank Withdrawal

June 15, 2015, 9:55 am

≫ Next: Bank Transfer

≪ Previous: Bank Deposit

The Bank Withdrawal is used to pay non-vendors and record withdrawals directly from your bank account. There is no invoice, credit memo, or official vendor associated with it. You will, however, have the opportunity to select which GL Accounts will be debited.

To begin, click on ‘Banking’ in the top ribbon, then select ‘Withdrawal’.A new transaction will open. You will need to fill in the following fields:
Number: This is pre-populated with the next check number for the checking account selected in the field below it. Normally, you would never change the Number. Even if you are not cutting a check, it is helpful to have a number assigned to every withdrawal for reference purposes. And since Restaurant365 uses blank check stock with MICR, if you are only recording a payment made outside the system, burning a ‘check number’ on a withdrawal isn’t important.
Checking Account: The bank account you want to pay from.
Paid To: Input the person or company’s name that will print on the check.
Comment: Add a comment (if you wish) that will print as a memo on the check.
Amount: Add the amount you wish to pay. When you do, you will notice the ‘Unassigned Amount’ field to the right that appears. This reminds us that the amount will need to be allocated to some expense account before we will be able to Save or Approve the transaction.
Date: Ensure you have the correct date in the ‘Date’ field.
Location: and the appropriate location in the ‘Location’ field.
Address: Enter the Address of the Paid To if you want their address to print on the check. To do this, click on the ‘Change Address’ button and add the address. A new Pop-up will Open. Enter the address you want printed on the Check and then click on ‘Change Address’Once the header is filled out, we now need to allocate the amount of the check to an expense account (or accounts). This is the debit side of the transaction (a credit to the checking account will be the other side of the transaction.) As with the other transaction screens, enter the name of or even part of the name of the account you wish to debit and then pick the correct account from the drop down list. Hit the ‘Tab’ key to go to the ‘Amount’ field and enter the amount. Hit the ‘Tab’ key again to go to the ‘Comment’ field and enter a detail comment if needed. Hit the ‘Tab’ again to go to the ‘Location’ field and select the correct detail ‘Location’. Once you have entered all the information for the detail line item, click on ‘Add’ to add the line item to the transaction. Repeat these steps to add additional line items if needed.Once the transaction amount is fully assigned below, the transaction can now be saved or approved.

Once approved you can now print the check. To print the check, go to Actions and select ‘Print Check’ A PDF preview of the check will appear. Seelct the print Icon in the PDF to print. Once printed close the PDF.

After the check has printed, close the print preview window and a message appears asking if the check was printed successfully. Chose to either reprint now or later if needed. If the check did print successfully, then click ‘Yes’. It is important to know that once you select ‘Yes’ (that the check did print successfully), you will not be able to reprint that check again. This prevents inadvertent duplication of check printing.

That covers the basics of ‘Bank Withdrawal’. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Bank Transfer

June 15, 2015, 2:40 pm

≫ Next: Using the Bank Activity Screen

≪ Previous: Bank Withdrawal

The Bank Transfer window is used to record the transfer of funds between an organization’s cash accounts. The system does not initiate the transfer of funds with the bank itself. This would be done outside the system and then recorded in Retaurant365 using this window.To begin click on ‘Banking’ in the top ribbon, then select ‘Transfer’

A new window will open.

The first field in the window is the number assigned by the system to this transfer. It is auto-generated and you should not need to change.

After selecting the ‘Transfer From’ cash account and the ‘Transfer To’ cash account, enter the amount of the transfer and the date the funds were transferred. Add additional comments that will remind you of the purpose of the transfer in the comments field.

Once you have entered all the information for this transfer, The nest step is to Approve the transaction or Save the transaction to be approved later.

The last topic we will cover in this training is transferring money between legal entities. When two cash accounts are selected that are held by different legal entities, Restaurant365 automatically creates a corresponding ‘Intercompany Due To’ and ‘Intercompany Due From’ entry on the transaction behind the scenes.

Here is an example of a non-intercompany bank transfer:

Debit: Transfer To (cash account)

Credit: Transfer From (cash account)

Here is an example of an intercompany bank transfer where legal entity ‘A’ is transferring funds to legal entity ‘B’:

Debit: Transfer To (cash account held by Legal Entity ‘B’)

Credit: Transfer From (cash account held by Legal Entity ‘A’)

Debit: Due From Legal Entity ‘B’ (asset in Legal Entity ‘A’)

Credit: Due To Legal Entity ‘A’ (liability in Legal Entity ‘B’)

The intercompany bank transfer leverages the pre-set account relationships between the legal entities.

Once again, Restaurant365 handles all the intercompany entries for you – no need to book them separately. Recording a bank transfer is easy.

That covers the basics of ‘Bank Transfer’. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Using the Bank Activity Screen

June 15, 2015, 2:41 pm

≫ Next: Bank Reconciliation

≪ Previous: Bank Transfer

Overview

The purpose of the Bank Activity screen to make it simple to match your bank statement to transactions already in the system electronically. It also allows easy creation of new deposits and withdrawals based on data from your bank that isn’t in the system yet. Using the Bank Activity feature will make your reconciling a bank statement much quicker.

Once your bank accounts are setup (click here to learn more about setting up bank accounts), then the bank activity process consists of 3 steps:

Download activity from your bank
Upload the file in the bank activity form (this will attempt to automatch with transactions that already exist)
Manually match/create/exclude entries that didn’t auto match

Important Terminology

These steps will be described in detail below, but first, the bank activity screen consists of 4 tabs and the terminology of those tabs is important so those will be described here first:

Matched/Excluded – this tab shows all bank records that have been matched or excluded. Matching means a record downloaded from your bank has a corresponding transaction in the system for the same amount and same bank account. Records are matched and moved to this tab during initial upload of bank activity (the system applies a series of auto-matching logic as described at the bottom of this training article). They can also be matched on the Unmatched tab manually by the user and created as new transactions from the Unmatched tab or the Rule Applied tab. Creating a new transaction on those tabs will automatically also match that record to the transaction and move it to the matched tab. On the Unmatched tab, records can also be Excluded which will move them to this tab. Excluding is described in more detail later in this training. If something is on this tab that should not be matched or excluded then press the button on that row that says Unmatch or Include respectively.
Bank Rule – this tab shows all bank rules you have previously created. Think of a bank rule as a transaction you want to create the same as a transaction you’ve created on bank activity in the past. For example you can set a rule so any bank record uploaded where the name is Sprint should create a transaction for vendor Sprint Wireless and post to the Telephone Expense account. These rules are on the Bank Rule tab and can be modified and deleted there. This tab is described in more detail further down in the training.
Rule Applied – this tab shows all bank records that matched the logic of bank rules you have created. The system tries to match records to bank rules during initial upload of bank activity as well as each time a new rule is created or a rule is modified
Unmatched – this tab shows all the remaining bank records that did not auto match to existing transactions or match any bank rules you have created.

Step 1 – Download activity from your bank

Log into your bank website and choose to download your bank transaction history for your desired date range. You need to download the information into a QFX or QBO file format – typically choosing the QuickBooks or Quicken format will provide you with the QFX or QBO file and save the file to your computer.

Step 2 – Upload the file and automatch

Open the bank activity window from the top ribbon under Banking – Get Bank Activity
Select your desired bank account in the Bank Accounts dropdown
Check or uncheck the Match Undeposited Funds check box based on whether you want the system to match these or not. If checked then the auto-matching logic will first try to match transactions in the system for this bank account and if it doesn’t find a match it will then try to match this record to transactions in the system that were posted to the Undeposited Funds account. If it does find a match in undeposited funds, it will change the account from undeposited funds to the bank account and then perform the auto-match. It will not match to undeposited funds in a closed period though, only in open periods. If you don’t want this undeposited funds matching to occur then uncheck that box before uploading the file.
Click Upload Bank Activity, browse out to the file you downloaded from the bank and then upload. As part of the upload process the system tries to match and apply rules as described in the following steps
The system applies auto-matching logic to try and match each activity record with a transaction in the system (auto-matching logic is outlined at the bottom of this training article). Records that auto-match will be put on the Matched/Excluded tab
Next, on the records that did not auto match, the process will then try to apply any bank rules to help quickly create transactions that do not yet exist but follow the same rules as transactions created during previous bank activity sessions (the Bank Rules feature is described in detail elsewhere in this training article). Records that match to bank rules will be put on the Rule Applied tab
All remaining records will be shown on the Unmatched tab and are ready to be processed

Step 3 – Manually match/create/exclude entries that didn’t auto match

Most of the time spent on this screen will be on the Unmatched tab during this step, but a bit of time will likely be spent on the Rule Applied tab.

Unmatched Tab

Manual Matching

If there is a possible match in the system but the match wasn’t close enough that the system could auto match, it will indicate there’s a possible match with an M on the row in the 9th column (highlighted in red in image below). Reasons for possible matches might be if there are multiple transactions in the system for the same amount so it doesn’t know which to match, or if there are multiple bank activity records imported with the same amount and only 1 transaction for that amount in the system so it doesn’t know which to match to. To see the possible matches, click the arrow on the far left of the row (highlighted in orange in image below) and this will dropdown a list of possible matches for that record (highlighted in green in image below). Click the Match button on the far right of the row that is the correct match and this record will be matched and moved to the Matched/Excluded tab. If you’ve opened the matched dropdown and want to close it, click the arrow button again on that row (highlighted in orange below).

Excluding

Its possible that you imported some records from your bank that you didn’t intend to or that you’ve already reconciled manually so you want them removed from the bank activity Unmatched tab. To remove these rows, click the check box on the far left of the rows you want to exclude and then click the Select Command dropdown in the upper right above the grid and select Exclude Selected from the dropdown (red arrow in image below). This will move those rows to the Matched/Excluded tab. If this is done by mistake then on the Matched/Excluded tab, locate that row and press the Include button to move it back to the Unmatched tab again.

Creating Transactions

Some companies don’t enter all transactions in the system ahead of time and use the bank activity window to quickly create them and match to the bank all in one step. If the transaction you want to add hits only 1 GL account and location then it can be added directly from the row on the Unmatched grid. Follow these steps to add the transaction:

Populate the Vendor on that row if desired – this isn’t a required field and only applies to withdrawals, not deposits. If you select a vendor then the Account column will automatically be populated with the Default Expense Account on that vendor.
Set or change the Account on that row – this is required and must be populated on both withdrawals and deposits before they can be created.
Set or change the Location – this will default to the location on the bank account and is a required field.
Uncheck the Add Rule check box if you don’t want a bank rule created. By default Add rule is checked which means a new bank rule will be created so that any other bank record with this same name will be recommended to hit this same vendor/account/location and be moved to the Rule Applied tab. Unchecking Add Rule means when this transaction is added no bank rule will be created. More details on bank rules are provided later in this training article.
Either click Add on the row or wait and add in bulk. If you want to create the transaction (and possible bank rule) now, click Add on the row and this transaction will be created and the record will be moved to the Matched/Excluded tab as matched. If you want to set a lot of rows first and then add all the transactions at once in bulk, then click the check box on the far left of each row you want to add and then click the Select Command dropdown in the upper right above the grid and select Exclude Selected from the dropdown (red arrow in image below).

If you need to create a transaction that hits more than 1 GL account or location then instead of populating Vendor/Account/Location on the row, click the Withdrawal or Deposit button on that row and a new window will open with the normal Withrawal or Deposit form where you can create a transaction with as many details as desired. Once finished entering the transaction, click Create Withdrawal or Create Deposit in the upper left corner of the pop up window and this will create the transaction and move that row to the Matched/Excluded tab as matched.

Clearing Unmatched Tab

Once you’ve finished creating and matching all the desired transactions in the Unmatched tab, if any bank records remain in this list and you want to just remove them because you don’t intend to use them later, click the Remove All Unmatched button near the top of the bank activity window and the unmatched list will be cleared out.

Rule Applied Tab

If you have bank rules setup and you’ve uploaded transactions that match those rules, the system will recommend the rules be applied to those records. It will show those records on the Rule Applied tab which looks and functions like the Unamtched tab. The benefit of this tab is it shows you records matched your existing bank rules and it shows what Vendor/Account/Location will be assigned if you choose to add those transactions.

Review the records on this tab, make changes to the Vendor/Account/Location fields on any row that you’d like to change and then just as on the Unmatched tab, you can either add 1 at a time with the Add button on each row, or add in bulk. Adding in bulk is usually best and the quickest way to do it is to click the Select all check box at the top of the far left column (circled in orange in image below) to select all rows and then click Select Command dropdown in the upper right above the grid and select Exclude Selected from the dropdown (red arrow in image below). This will create those transactions and these rows will move to the Matched/Exlcluded tab as matched.

Bank Rule TabThis tab is where you manage your bank rules. Bank rules are used so the system can attempt to assign a vendor/account/location to the bank records you import based on the values you chose the first time you processed a bank activity record with that same name. Bank rule fields are shown in the screenshot below and are defined as follows:

Name – this is the name of the bank rule and can be named whatever will help you know this rule. By default the rule will have the same name as the Name on the bank record used to create this rule, but it can be modified on the Bank Rule tab.
Type – this defines what type of transaction will get created using this rule (withdrawal or deposit) and will default to the same type as the record used to create the rule.
Bank Account – this defines which bank accounts this rule applies to. You can either select the word All and it will apply to all bank accounts or select 1 specific bank account. If you want the same rule to apply to multiple bank accounts but not to all then you will need to create that rule for each bank account you wish to apply it to.
Condition – this can either be “equal” or “contain”. Since the bank rule looks at the name on the bank activity record to see if a rule exists matching that name, you can either say this rule must match the name exactly by choosing “equal” or you can choose “contain” and it will try to apply the bank rule to any record where the name contains the value you type, but doesn’t have to equal it exactly. The default setting on bank rules is “equal”.
Value – this is the value that the bank rule will try to match to the Name field on the bank records. You can simplify the value so instead of an exact name which might say “Sprint #05918″ you can set the value to just say “sprint” and could set the condition as “contain” and then during bank activity upload, any bank record that’s name contains the word “sprint” will have this bank rule applied to it. This value defaults as the Name on the bank record used to create it initially.
Vendor – this is the vendor that will be defaulted on bank withdrawals for records that match this rule
Account – this is the GL account that will be defaulted on withdrawals or deposits for records that match this rule
Location – this is the location that will be defaulted on withdrawals or deposits for records that match this rule

Bank rules get created by having the Add Rule check box checked on a row where you populate the Vendor/Account/Location fields and click Add (or bulk add). Make desired changes to bank rules on this tab and then click “Save changes” button in the upper right hand side above the grid (red arrow in image below). To delete a rule hit the delete trashcan icon on the far right of the row.

Other Tips

Use the + Size and – Size buttons above the grid to make the work area of this screen larger.

Best practice: do bank activity every week to keep the list of records from getting too large and harder to manage at once.

Ever wonder what matching logic is used for auto-matching? The matching process goes through the following sequence to find matches and potential matches:

1. Check number (Number in the Memo Field to the Check Number on the AP Payment record)

2. Amounts match and Unique (only 1) and Dates match – Mark as Match

3. Amounts match and unique (only 1) and with Date Range of -4 days – Mark as Match

4. Amounts match and unique (only 1) and with Date Range of -7 days – Mark as Match

5. Amounts match and unique (only 1) and with Date Range of +2 days – Mark as Match

6. Amounts match and unique (only 1) and with Date Range of all past days – Mark as Match

7. Amounts match multiple records – Mark as a potential Match

8. Next it does the same for Undeposited Funds account entries where the date is not closed on the legal entity

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Bank Reconciliation

June 15, 2015, 2:42 pm

≫ Next: Where can I see my Bank Account Balance?

≪ Previous: Using the Bank Activity Screen

A Bank Reconciliation is a period end (or month end) procedure used to ‘true-up’ the records in your accounting system to the actual activity in your bank account (as reported by your bank.)

Step 1: Make sure to have a copy of your bank statement or online statement ready.
Step 2: Begin a new reconciliation
Step 3: Match the transactions in Restaurant365 with the ones one your statement until the indicated difference is 0
Step 4: Make sure all the voided transactions are cleared from your reconciliation.
Step 5: Approve and print the reconciliation

Step 1:

Before beginning your reconciliation, make sure to have a copy of your bank statement or online statement in front of you. To begin reconciling your bank account, click on ‘Reconciliation’ in the Banking section of the ribbon. The New Bank Reconciliation window appears and asks you to select the checking account, statement end date, and statement ending balance. Once those are filled in, hit the ‘Retrieve Transactions’ button. This will retrieve all the transactions for this account up to the statement date you entered.

Once those are filled in, hit the ‘Retrieve Transactions’ button. This will retrieve all the transactions for this account up to the statement date you entered.

Step 2: Begin a New Reconciliation

The screen will save and refresh the ‘Name’ of the reconciliation. It is now changed from ‘New’ to: (Checking Account Name) – (Date) – Reconciliation. As always, it begins in an unapproved status.

The four fields on the top left are non-editable. The first is the beginning balance which is the last reconciled balance. (If this is the first time reconciling this account, you can add the ‘Beginning Balance’ by entering it on the GL Account record for this checking account. There is a field called ‘Last Reconciled Balance’ in the ‘Banking Info’ section of the GL Account.)

The next three fields (Checks/Other Expenses, Deposits/Other Credits, and Cleared Balance) are all automatically updated as we mark the individual transactions in the grid below. The Statement End Date and Statement End Balance were entered in our first step. Although you would not normally do this, you are able to adjust on the fly the Statement End Balance, in which case the Difference field will automatically recalculate.

Step 3: Match transactions in R356 with those on your bank statement

The ‘Checks / Withdrawals’ tab appears first. Click on each individual check or withdrawal as it is shown on your bank statement. You can sort the list by any column or even multiple columns. Clicking once on a column will sort ascending, clicking a 2nd time sorts descending, and clicking a 3rd time turns off sorting on that column.

If a transaction is matched to bank activity for a date greater than the reconciliation date, it will show in this list with a comment describing which bank activity it is matched to currently. There is an Unmatch button on the row so the user can unmatch that bank activity if it is supposed to be reconciled on this reconciliation instead (image below).

You can drill down on any transaction by clicking on the blue colored Number field.

If there is a withdrawal on your bank statement but not in Restaurant365, you can add one quickly on the fly by clicking on the ‘+ Add Withdrawal’ button.

Upon doing so, the header of the grid expands and allows you to select the account, amount, date, number, description, location, legal entity, and concept that the withdrawal pertains to. Once done, click the ‘Add’ button and the header collapses again and returns you to the previous view.

After you have added the withdrawal, you will notice that the withdrawal you just added is already marked for reconciliation.

Once done with the checks and withdrawals, click the ‘Deposits / Other Credits’ tab and repeat the same steps taken for clearing the checks and withdrawals. If you need to add a deposit that wasn’t in Restaurant365 previously, click on the ‘+ Add Deposit’ button and follow the same steps. Remember that Legal Entity is a required field. Once you hit add to create the additional deposit, you will be returned to the ‘Deposits / Other Credits’ view and the newly created deposit will be marked for reconciliation.

During the process of reconciling the Deposits / Other Credits, it is often helpful to keep open the Deposit form (which can be launched from the Top Ribbon by clicking on ‘Banking’ and then ’Deposit’.) This is helpful because if you don’t see a deposit on the Bank Reconciliation but do see it on your bank statement, there is a strong possibility that the receipt of the funds has been recorded in Restaurant365 but simply has not yet been added to a ‘Deposit’ transaction and approved, which will add it to the Bank Reconciliation screen. Keep in mind that if you have the Bank Reconciliation window open, and then you create a new Deposit (and hit Approve & New on the Deposit) it won’t appear on the Bank Reconciliation until click on the ‘Refresh’ button or you close and reopen the Bank Reconciliation form. It’s a good idea to go through and do all of your deposits to match exactly the way they were received by the bank before completing the Bank Reconciliation. It’s the first rule of reconciling a bank statement: enter everything exactly the way it was received by or paid out of the bank. This makes reconciliation a snap later.

If you are using the Bank Activity feature regularly, many of the transaction will already be marked as reconciled by the time you are ready to do a month end reconciliation. See the Bank Activity training video for more details.

Step 4: Make sure all the voided transactions are cleared from your reconciliation.

At this point, we need to pause and insert a comment about clearing voided transactions. If you find a voided transaction on your bank reconciliation (you will know this because the number will end with a ” – V”) it is because someone voided a previously reconciled transaction. This should be very uncommon. If this happens, you will want to clear out the voided transaction on the current bank reconciliation. In order to do this, you will need to offset the void by creating a new Credit or Withdrawal (depending upon the type of voided transaction you see) and mark them both – thus creating a net zero effect to the Ending Balance on the reconciliation. To be more specific, if you see a voided Payment on the Deposits / Other Credits tab, then create a corresponding withdrawal on the ‘Checks / Withdrawals tab. And if you see a voided check on the ‘Checks / Withdrawals’ tab, create an offsetting Credit on the ‘Deposits / Other Credits’ tab. In both cases, make sure to mark both the void and the offset transaction. As for which account to pick on your newly created transaction, you might drill down on the voided transaction to find out the details of the original transaction. In the end, this part is up to you as an accountant! Just remember what is going on, there was a transaction that did in fact clear your bank or was mistakenly marked as reconciled on last month’s reconciliation. Then, that transaction was voided in a subsequent month, and the debits and credits of the original transaction were reversed. Now, that voided transaction must be offset in order for Restaurant365 to match the bank statement this month.

Step 5: Approve and print the reconciliation

Let’s transition back to the reconciliation. After all the transactions on your bank statement are accounted for, the difference in the header of this reconciliation will be $0.00.

At that point you can Approve the reconciliation or Save it. If you choose to save the reconciliation, you will not be able to start a new one for the same checking account until that one is either or approved or deleted. Only one reconciliation can be in progress for each checking account at a time.

Keep in mind that when you ‘Approve’ a Bank Reconciliation, you are not approving a transaction but rather indicating that a certain set of transactions (within a given time period), are in sync between your system and the bank. As we pointed out, during the reconciliation process you may add deposits or withdrawals on the fly (which are automatically approved when added). These adjustments can be voided at a later time by opening up those individual transactions. This is unlikely however because by reconciling it, you are indicating that it is a valid adjustment as reported by your bank. You may not, however, void a ‘Reconciliation’. A final note on this topic, when any transaction is included on a bank reconciliation, it can no longer be ‘unapproved.’ Reconciling a transaction locks it down – a powerful control of your cash.

Once you have approved the reconciliation, the ’Reconciliation Report’ button appears in the ribbon. Click this to generate the Reconciliation Report that will display all the cleared transactions along with the beginning and ending account information. You will be able to reprint this at any time.

Save to PDF to print.

Note: If a change is made to any transaction included on the reconciliation after reconciling, the report will not reflect that change. Once a transaction is reconciled, it is highly unlikely the transaction would need to be modified. Restaurant365 places a visual cue on each transaction that is cleared on a bank reconciliation. The visual cue is the appearance of two fields at the bottom of each transaction. One showing the date of the reconciliation and the second is a link to the actual reconciliation itself. This is helpful to know if you ever are trying to make a change to a transaction and are unsure if it has already been cleared by and reconciled to the bank.Additional Tips:We’ve included a description of how the system handles voiding associated with bank reconciliation for future reference. There are 3 scenarios:

Voided before it clears the bank – nothing will show up on bank rec because its cancelled
Clears bank (meaning vendor cashed it) and user has already reconciled it – The reversing/voiding side of the entry will then show up on bank rec because voiding something that already cleared the bank would require some sort of communication with your bank to get credited for something that already cleared. If they are crediting you then this reversing/voiding side of the entry would balance with that bank credit. If the original cleared the bank and the bank is not crediting you for it now, then you probably don’t want to void it.
Original transaction was made by mistake but the user checked it off on bank rec even though it didn’t match to a transaction on the bank statement – That would probably keep the bank rec from balancing to $0 so then the user might make an adjusting entry on that bank rec to get it to balance. If that happened and then the user later wanted to void the original transaction, they would want to void the adjusting entry they made as well.

That covers the basics of ‘Bank Reconciliation’. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Where can I see my Bank Account Balance?

June 15, 2015, 2:43 pm

≫ Next: Positive Pay

≪ Previous: Bank Reconciliation

You can see your bank account balances in a few different places in Restaurant365.

1. GL Account Detail Report
2. Check Register Report
3. On Bank Transaction screens

1. In ‘My Reports’, under Financials, there is a GL Account Detail report. Here you can see deatils and the balance as of the date the report is run for.

2. In ‘My Reports’, under Banking, there is a Checkbook Register report. Here you can see the recent detail and current balance.Then run the Check Register Report

3. When you open an new bank transaction (Withdrawal, Transfer, Deposit), the current balance is shown on the screen.

That covers the basics of ‘Where Can I See My Bank Account Balance’. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Positive Pay

June 15, 2015, 2:44 pm

≫ Next: Adding A New Bank

≪ Previous: Where can I see my Bank Account Balance?

Positive Pay Overview

The positive pay feature (sometimes referred to as safe pay) allows the user to export a list of checks from R365 in a format to be uploaded to the bank. The purpose of the upload is to alert the bank of these checks so they can be cashed. This is a service offered by many banks to ensure that only approved checks can be cashed.

Setup: The positive pay export format is set on the Bank record. Access the bank record by opening the bank account that will use positive pay (left hand side navigation pane: Accounting – Bank Accounts under the Banking sub header). Click on the blue underlined value in the Bank field to open the bank.

On In the bank form, set the Positive Pay Report field with the name of the positive pay format for your bank and Save & Close. If unsure of the format name, contact R365 support to get the name.

Steps Positive pay export is accessible for checks created using the check run feature only. It is accessible during the check run and can also be accessed after closing the check run. Do the following to access Positive Pay during the check run. After creating the checks a screen will pop up with a button titled Positive Pay Export, click this button to run the positive pay export report. Save this file to a desired location on your machine and then login to your bank’s website and upload that file. If you wish to review the file after saving do not use excel to open. Instead right click on the file and select ‘Open With Notepad’. To access Positive Pay after the check run is closed, go to Accounting – Reports in left hand navigation pane and find the report named Positive Pay Export in the Banking section. Select the checkbook which will populate the dropdown list of available check runs. Select the desired check run you wish to export positive pay for and then click Run. Save the file as .csv format to a desired location on your machine and then login to your bank’s website and upload that file. That covers Positive Pay.Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Adding A New Bank

October 13, 2015, 9:36 am

≫ Next: Entering Beginning Balance Transactions

≪ Previous: Positive Pay

When setting up Bank Accounts you may need to add a ‘Bank’ to Restaurant365. You should have a Bank set up for each Bank that you have Bank Accounts set up for in Restaurant365.

To add a new Bank follow the steps below:

In the bank account record that you are setting up, check the Bank drop down to see if the Bank has already been set up. If not click on ‘Bank’ next to the Select Bank drop down.

This will open a new Bank record. Fill out the bank name and then Save and Close. Note: If you are using the online banking feature in bank activity then you will need to fill out the Bank Code, FID, etc. You can get this information from your banking institution.

That covers Adding a New Bank. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Entering Beginning Balance Transactions

October 29, 2015, 10:25 am

≫ Next: Bank Balance vs GL Account Balance

≪ Previous: Adding A New Bank

When implementing Restaurant365 you will need to input beginning balance transactions for GL Balances, Open AP Transactions, Open AR Transactions, and Unreconciled Bank Transactions. The majority of beginning balance items will be imported during the implementation process. However, after go-live you may identify some discrepancies that may require you to add some additional beginning balance transactions.

To add a new beginning balance transaction for GL Balances, Open AP, Open AR, or Unreconciled Bank Items, follow the steps below.

Select ‘Administration’ in the top ribbon and then select ‘New Beginning Balance’. This will open a list of available beginning balance options.

Available Beginning Balance Transaction Options

AP Invoice – Any AP invoices not fully applied to AP payments or AP credit memos
AP Credit Memo – Any AP credit memos not fully applied to AP invoices
AP Payment – Any AP payments not fully applied to AP invoices
AR Invoice – Any AR invoices not fully applied to AR payments or AR credit memos
AR Credit Memo – Any AR credit memos not fully applied to AR invoices
AR Payment – Any AR payments not fully applied to AR invoices
Journal Entry – For inputting GL Historical Balances
Bank Withdrawal – Any unreconciled Bank Withdrawals (Expenses)
Bank Deposit – Any unreconciled deposits
Stock Count – For inputting beginning stock counts – prompts user to select the appropriate stock count template for the beginning count

Select the appropriate beginning balance option. for this example we will show a beginning balance AP Invoice. As you can see, the Beginning Balance AP Invoice looks just like a normal AP invoice, except that there is no detail grid for entering detail line items. This is because the beginning balance transaction does impact the GL. It is entered into the system to allow a future payment to be applied to it.

You will notice that the transaction shows ‘Beginning Balance’ under the status. Enter the Invoice Number, Vendor, Date, Comment, Amount, Payment Terms (may be prepopulated if a payment term is assigned to the vendor), and Location.

Once all the information is entered select Save or Approve to complete the transaction. Repeat these steps for additional beginning balance transactions.

That covers Entering Beginning Balance Transactions. Thank you for attending this training session. This article is one of many training sessions available to you on-demand. We invite you to continue your training so that you can get the most out of Restaurant365 to help your restaurant reach it’s full potential.

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Bank Balance vs GL Account Balance

November 17, 2015, 9:18 am

≫ Next: Check Run – Applying Discounts

≪ Previous: Entering Beginning Balance Transactions

To make sure your bank balances to the GL, you should verify that the “Statement Balance + Uncleared” value on the reconciliation report (circled in red in image below) and the GL account balance for that bank account as of the same date match. There are a few reasons these values may not match. When you approve a bank rec it takes a snapshot of the system as of that time so the “Statement Balance + Uncleared” value on the reconciliation report is showing the balance according to that snapshot.

Reasons You Might Not Balance

Example 1 “Entered a transaction after completing the bank rec”: Let’s assume you’ve doing a bank rec with a statement end date of 10/31 and you approve it on 11/8. Then on 11/15 you enter a new bank withdrawal transaction and date it 10/28. If you run a report to see the GL account balance of your bank account (such as Trial Balance, Balance Sheet, GL Account Detail reports) as of 10/31 then this 10/28 transaction will be reflected in that balance. However, the reconciliation report is based off the snapshot of the time when the bank rec was approved so this transaction will not be included in the balance of that bank rec so there will be a discrepancy. If you don’t want the discrepancy to show up, you will need to unapprove the bank rec which will then pick up this new transaction and then approve the bank rec again. This transaction will now show in the uncleared list on that bank rec and will be part of that balance on the reconciliation report.

Example 2 “User entered wrong statement beginning balance on a bank rec”: The beginning balance on a bank rec defaults as the ending balance from the previous bank rec but the user can override this value if desired. If the user puts the wrong value in this field then the math on this bank rec won’t balance with the previous rec which might cause it to be out of balance with the GL account.

Example 3 “Started with incorrect beginning balance went went live with system”: Let’s assume you started using the system and put a beginning balance for the GL account of this bank account of $100 in your beginning balance journal entry. Then you set the Last Reconciled Balance for that bank account as $150. If the last reconciled balance was $150 according to your bank and the actual balance in the account was $100 according to your prior financial system, then that means there are $50 of expenses in your prior system that need to be entered as Open Bank Transactions (unreconciled transactions) to start in this system. If you didn’t enter those $50 of expenses as bank beginning balance transactions or entered an amount other than $50, then you will be out of balance because to start the system your GL was already out of balance from the bank.

There are various other reasons they might differ such as making an edit to a transaction after reconciliation or voiding a reconciled transaction.

Bank to GL Reconciliation Report Will Help

To help you investigate the reasons for the difference you can run the report titled “Bank to GL Reconciliation” in the Banking section of the My Reports page. For this report you can select the bank account you want to evaluate, the bank rec you want to evaluate it as of, and choose whether to show Only Out of Balance Reconciliations, All Reconciliations. or This Reconciliation Only. Because of the huge amount of data this report is analyzing to find possible balance problems, it may take some time to run.

Once you’ve selected your parameters and run the report, it will display a row for each reconciliation with a + sign on the far left (circled in red in image below). Clicking the + sign will show all details for the reconciliation. Clicking the blue date on the reconciliation row (circled in red in image below) will open that bank rec. In the far right column of each detail row that might be causing a balance issue, there will be a comment (circled in green in image below). The comment will be a description of why that row might be causing an issue such as “Not on rec, maybe trx was approved after rec was approved” as explained in Example 1 above. You can also open the transaction on a detail row by clicking the blue transaction type link (red arrow in image below).

Review this report to help you narrow down your issues and resolve them.

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Check Run – Applying Discounts

March 15, 2016, 12:51 pm

≫ Next: Reconciling Credit Cards

≪ Previous: Bank Balance vs GL Account Balance

During a Check Run, when you have an Invoice with a possible discount to take, you will see “D” in the far right hand column of the Invoices tab on the Check Run screen.

To apply the discount, do the following:

Check the checkbox on that row selecting that invoice with the available discount
Once selected the Pay amount will change to the invoice amount less the discount
Create the check

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Reconciling Credit Cards

June 7, 2016, 8:42 am

≫ Next: Autonumbering

≪ Previous: Check Run – Applying Discounts

In order to reconcile a credit card, the credit card must be set up like a bank account so that you can create reconciliations for that account. For more information on setting up accounts click here.

After you have set up the credit card as a bank account and have began to accrue activity, you will start a bank reconciliation for that account. For more information on bank reconciliations click here.

The main thing to remember when starting a bank reconciliation for a credit card account, is that the credit card is a liability. Consequently, you will need to change the beginning and ending statement balances to be negative. Then check off your transactions as you normally would to reach a difference of 0 on the bank rec.

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Autonumbering

June 29, 2016, 2:54 pm

≫ Next: Bank Account Record

≪ Previous: Reconciling Credit Cards

In Resaurant365, unique identifiers are important for numerous reasons. To allow for the easy creation of unique records, many transactions have an Autonumbering feature that is managed under the Administration section of the Accounting Module. When selected, the Autonumbering Next XX # (1) will be displayed next to the Prefix (if any) (2) as shown below. To save any adjustments to the next number, or prefix, be sure to click the Submit button to the right of each Autonumbering line item.

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Bank Account Record

July 14, 2016, 12:56 pm

≫ Next: GL Account – Disable Entry

≪ Previous: Autonumbering

GL Accounts can also be classified as Bank Accounts by checking the ‘Is Bank Account’ checkbox on the GL Account Record. Click here for more information on GL Account Records. To create a new Bank Account, please see the Add a New Bank Account training.

When a GL Account is identified as a Bank Account, the GL Account will appear in the Bank Accounts List view (located under Banking in the Accounting Module), additionally the GL Account will be made available on the Bank Activity and Bank Reconciliation screens. Click here for more information on Bank Activity, and Bank Reconciliation.

The checkbox highlighted in red below is to specify if the GL Account is a Bank Account (an Account that will be made available in the Bank Accounts List View, as well as the Bank Activity / Reconciliation screens). Note: this checkbox will only appear when a GL Type with the Financial Report setting of ‘Balance Sheet’ is selected in the GL Type selector above (4). If the GL Account is a Profit & Loss Account (and therefor has a GL Type that has the Financial Report setting of ‘Profit & Loss’) this checkbox will not appear. When selected, Bank Account details appear on the GL Account Record.

Legend:

1) Location – It is assumed that only one Legal Entity controls each cash account so it’s important to select a Location within the Legal Entity for this Bank Account. This field will help drive the intercompany accounts when money is transferred to cash accounts controlled by other Legal Entities

2) Bank Name (on Check) – Name of the Bank that will appear on the printed check

3) Bank – This field will identify the Banking Institution and the type of Bank Account. Click on the selector to choose the appropriate Bank. If the institution isn’t listed, click on the ‘Bank’ text to the left of the field, and a new tab will open where you can create the Banking Institution.

4) Second Signature – Click this box if a second signature is desired on checks from this checkbook. When checked this will show a another field called Second Signature Threshold where you set what dollar value for the check will require the 2nd signature. For example, if checks for $5,000 and above require a 2nd signature then check this box and put 5,000 in the threshold field. If 2nd signature is required on all checks then put $0 in the threshold field. This will make a 2nd signature line print on the check just above the regular signature line. You can still have a signature image print for the first signature if you desire (14), but the 2nd signature must be manually signed

5) Check Format – Select the Check format for this Bank Account. Options include United States, and Canada

6) Routing Number / Transit Number – Enter the Routing Number (USA) / Transit Number (CAN) of the Bank Account (see below for screenshots depicting US and CAN checks).

Note: For Canadian Transit Numbers with a MICR Dash () present, in the Routing (Transit) Number field, enter a capital ‘D’ in place of the MICR Dash

For example:

7) Bank Account Number – Enter the Account Number of the Bank Account

Note: For Canadian Account Numbers with a MICR Dash () present, in the Account Number field, enter a capital ‘D’ in place of the MICR Dash

For example:

8) Next Check Number – Enter the next available check number. This will be used when printing physical checks from this account and will display in the MICR line on the check. It is important that these be exactly the same as given to you by your bank

9) Last Reconciled Date – Date the Account has been reconciled through

10) Last Reconciled Balance – Balance of the Account as of the last reconciliation

11) Last Activity End – The date of the last activity in this Account

12) Is Deposit Only – Check this box if this Account is for Deposits Only and you don’t want it as an option on the Check Run and Manual Payment screens

13) Bank User Name – User name for online banking – This will be used in ’Bank Activity’ if you use the automatic upload option

14) Select Signature Button – Clicking this button will open a prompt where the user can upload a signature file that will print on physical checks when ‘Print Check with Signature’ is selected. Printing checks with signatures requires a separate security role: Print Check with Signature.

Click the Sample Signature File button below to download a sample signature file that can be used in the creation of signature files for your Bank Accounts:

Sample Signature File

Routing Numbers – US Checks

Transit Numbers – Canada Cheques

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GL Account – Disable Entry

July 15, 2016, 1:44 pm

≫ Next: GL Account – Available To Managers

≪ Previous: Bank Account Record

If a GL Account is going to be a true Summary Account, we can Disable Entry for the account. The values in the account going forward will only be a sum of the Child Accounts that are associated with the Parent (disabled) Account.

For accounts that have Disable Entry enabled, the Account Name / Number will no longer show up in any Account Selector dropdowns in the system. The Account will be disabled for direct entry for all transactions (this includes importing Journal Entries that post directly to this Account).

This is accomplished on the GL Account Record via a Check/Unchecked setting on the Account and can be changed as needed. The only values that would post (in a summary fashion) to this account would then be from the Child Account(s) that identified the Account in question as their respective Parent Account.

To more fully demonstrate ‘Disable Entry’, please see an example below:

Disable Entry Example

Account #1000 has the box ‘Disable Entry (subtotal only)’ checked on the GL Account Record

Additionally we can see that the Disable Entry box has been checked for this Account when we are viewing the GL List View in the Accounting Module

On an AP Invoice when the user selects the GL Account that will be used on the Transaction line item, Account #1000 is skipped over (#1010 is listed first) and does not appear in the Account Selector dropdown. The Disable Entry account will not appear in any selectors from Transactions throughout the system.

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GL Account – Available To Managers

July 15, 2016, 3:39 pm

≫ Next: Check Printing Setup (USA)

≪ Previous: GL Account – Disable Entry

If non-Accounting users (Users with the security role of Restaurant Manager) need access to a GL Account, that Account must be flagged as Available to Managers. As non-Accounting users do not have access to the Accounting Module, they will never see the General Ledger in its entirety, nor will they have the access to open a GL Account Record to view GL Transactions. However, it will be necessary for Restaurant Managers to have limited access to some GL Accounts for Invoicing, and DSS Review

For Accounts that have Available to Managers enabled, the Account Name / Number will be made available in Account Selector dropdowns in the Operations Module to Restaurant Manager users.

This is accomplished on the GL Account Record via a Check/Unchecked setting on the Account and can be changed as needed. As a best practice, Cost (including COGS) and Expense Accounts should be made Available to Managers.

Click the button below to download an example General Ledger populated with recommended Account Names, Account Numbers, and if those Accounts should be made Available to Managers from the National Restaurant Association (NRA):

NRA Sample GL

To more fully demonstrate ‘Available to Managers’, please see an example below:

Available to Managers Example

Account #5100 has the box ‘Available To Managers’ checked on the GL Account Record

Additionally we can see that the Available To Managers box has been checked (value of ‘Yes’) for this Account when we are viewing the GL List View in the Accounting Module. Notice that Account #5000 has a value of ‘No’ for Available To Managers.

On an AP Invoice when the Restaurant Manager User attempts to select the GL Account that will be used on the Transaction line item, Account #5000 (Available To Managers left unchecked) is not visible, while Account #5100 is visible and is selectable in the Account Selector dropdown. The Available To Managers Account will now appear in any Account selectors a Restaurant Manger would have access to throughout the system.

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Check Printing Setup (USA)

August 1, 2016, 12:46 pm

≫ Next: Check Printing Setup (CAN)

≪ Previous: GL Account – Available To Managers

Restaurant365 allows users to print their own checks without relying upon pre-printed check stock. This gives users greater flexibility and added security as they will not have to keep pre-printed check stock on premises, or under lock and key. Blank checks also offer additional convenience, allowing you to print multiple checks out of multiple checkbooks in a single check run, with no need to go into the printer and change the checks between changing the checkbook in the system. Click here for training on how to Print Checks

Check Printing Requirements:

To be able to print checks in Restaurant365, you need to purchase the following items, and complete the following setup steps:

Purchase

1) Blank Check Stock – Form 1000 or Check, Stub, Stub from Versacheck

You can order Blank Check Stock from various online retailers or Brick and Mortar office supply stores. Form 1000 can be purchased directly from Versacheck, Amazon, and Staples

2) Double Window Check Envelopes (optional) – Self-Sealing Voucher Check Envelope (3-9/16 H x 8-3/4 W) from Versacheck

If you plan on mailing checks to your Vendors, you may consider purchasing double window check envelopes for easy check mailing.

You can order the Self-Sealing Voucher Check Envelope from various online retailers or Brick and Mortar office supply stores. Self-Sealing Voucher Check Envelope can be purchased directly from Versacheck, Amazon, and Staples

3) MICR (Magnetic Character Ink Recognition) Toner for your MICR-capable printer

Some banks require MICR ink be used when printing checks. As this is not a universal requirement in the digital banking age, it is recommended that you contact your bank to inquire if MICR ink is required.

Restaurant365 recommends that if your bank requires the use of MICR ink on issued checks, that your organization purchases a dedicated MICR printer for check printing purposes. Versacheck offers a wide range of MICR printers, as well as MICR toner cartridges for regular printers. Inkcarts also has a wide offering of MICR toner. Additionally these items can be found from various online retailers or Brick and Mortar office supply stores

Setup

4) Set up your Bank Account Info in Restaurant365

In Restaurant365, Bank Accounts reside in the General Ledger as GL Accounts. To classify a GL Account as a Bank Accounts, check the ‘Is Bank Account’ checkbox on the GL Account Record. Click here for more information on GL Account Records. To create a new Bank Account, please see the Add a New Bank Account training. To create a new Bank (#3 in the image below), please see the Add a New Bank training.

To complete the check printing setup, you need to have your Bank Information properly set up in Restaurant365. Navigate to Accounting>> Bank Accounts >> and find and open the Bank Account from which you will be printing checks. The Bank Account Record will open with the fields shown in the following image. To properly print checks, the Location (1), Bank Name (on Check)(2), Bank (3), Routing Number (6), Bank Account Number (7), and Next Check Number (8) must be completed, and the record saved. Please see the legend below for a description of each field on the Bank Account Record.

Legend:

2) Bank Name (on Check) – Name of the Bank that will appear on the printed check

5) Check Format – Select the Check format for this Bank Account. Options include United States, and Canada

6) Routing Number – Enter the Routing Number of the Bank Account

7) Bank Account Number – Enter the Account Number of the Bank Account

9) Last Reconciled Date – Date the Account has been reconciled through

10) Last Reconciled Balance – Balance of the Account as of the last reconciliation

11) Last Activity End – The date of the last activity in this Account

12) Is Deposit Only – Check this box if this Account is for Deposits Only and you don’t want it as an option on the Check Run and Manual Payment screens

13) Bank User Name – User name for online banking – This will be used in ’Bank Activity’ if you use the automatic upload option

Click the Sample Signature File button below to download a sample signature file that can be used in the creation of signature files for your Bank Accounts:

Sample Signature File

↧

Check Printing Setup (CAN)

August 1, 2016, 2:41 pm

≫ Next: Where can I see my Bank Account Balance?

≪ Previous: Check Printing Setup (USA)

Check Printing Requirements:

To be able to print checks in Restaurant365, you need to purchase the following items, and complete the following setup steps:

Purchase

1) Blank Check Stock – Form #1000 Canadian Business Check or Check, Stub, Stub from Versacheck

You can order Blank Check Stock from various online retailers or Brick and Mortar office supply stores. Form #1000 Canadian Business Check can be purchased directly from Versacheck

2) Double Window Check Envelopes (optional) – Self-Sealing Voucher Check Envelope (3-9/16 H x 8-3/4 W) from Versacheck

If you plan on mailing checks to your Vendors, you may consider purchasing double window check envelopes for easy check mailing.

3) MICR (Magnetic Character Ink Recognition) Toner for your MICR-capable printer

Setup

4) Set up your Bank Account Info in Restaurant365

Legend:

2) Bank Name (on Check) – Name of the Bank that will appear on the printed check

5) Check Format – Select the Check format for this Bank Account. Options include United States, and Canada

6) Transit Number – Enter the Transit Number of the Bank Account

Note: For Transit Numbers with a MICR Dash () present, in the Routing (Transit) Number field, enter a capital ‘D’ in place of the MICR Dash

For example:

7) Bank Account Number – Enter the Account Number of the Bank Account

Note: For Account Numbers with a MICR Dash () present, in the Account Number field, enter a capital ‘D’ in place of the MICR Dash

For example:

9) Last Reconciled Date – Date the Account has been reconciled through

10) Last Reconciled Balance – Balance of the Account as of the last reconciliation

11) Last Activity End – The date of the last activity in this Account

12) Is Deposit Only – Check this box if this Account is for Deposits Only and you don’t want it as an option on the Check Run and Manual Payment screens

13) Bank User Name – User name for online banking – This will be used in ’Bank Activity’ if you use the automatic upload option

Click the Sample Signature File button below to download a sample signature file that can be used in the creation of signature files for your Bank Accounts:

Sample Signature File

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Where can I see my Bank Account Balance?

June 15, 2015, 2:43 pm

≫ Next: Positive Pay Reports

≪ Previous: Check Printing Setup (CAN)

You can see your bank account balances in a few different places in Restaurant365.

1. GL Account Detail Report
2. Check Register Report
3. On Bank Transaction screens

1. In ‘My Reports’, under Financials, there is a GL Account Detail report. Here you can see deatils and the balance as of the date the report is run for.

2. In ‘My Reports’, under Banking, there is a Checkbook Register report. Here you can see the recent detail and current balance.Then run the Check Register Report

3. When you open an new bank transaction (Withdrawal, Transfer, Deposit), the current balance is shown on the screen.

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