Petty Cash Management - How to Perform a Reconciliation
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Transcript of Petty Cash Management - How to Perform a Reconciliation
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: [email protected]
Phone: +66 86 924-8482
Skype: DavidRobertsOlson
All original content copyright © 2013 by David Roberts Olson. All rights reserved.
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