Cash reconciliation
Reconciles processor settlements with bank deposits and cash ledger entries, then prepares journal entries for unrecorded transactions
How it works
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Upload a completed reconciliation
The settlement-level detail and the journal entries that were posted
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Add the source files
The processor settlement report, bank statement, and cash ledger extract for the same reporting period
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Skipper learns the reconciliation rules
Which reference fields link a settlement to a deposit, how fees and refunds reduce the gross amount to the expected net amount, and the tolerance for reporting a difference
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Upload the new period files
Skipper identifies reconciled settlements, lists unresolved differences, and prepares draft journal entries
Input files
- processor_settlements_202X-07.xlsx Gross sales, refunds, fees, and net settlement for each payout
- bank_statement_202X-07.xlsx Deposits and withdrawals as reported by the bank, with references
- cash_ledger_202X-07.xlsx Cash account postings from the general ledger, debit and credit
Output workbook
cash_reconciliation_202X-07.xlsx
- Summary Reconciled and unreconciled totals, with the tolerance applied
- Reconciliation Each settlement with its expected net amount, bank deposit, ledger balance, reconciliation differences, and status
- Journal Entries Draft entries for bank activity not yet recorded in the ledger
- Checks Independent reconciliation of totals to each source