AR Cash Management - How To's

Overview

The AR Cash Management screen provides a centralized workflow for managing payments received from customers, from the initial receipt and movement of payments through final reconciliation and deposit.

Cash Management can be configured as either a 1-Step or 3-Step process:

• 1-Step Cash Management – Provides a summary of all cash, checks, and other electronic payments received. Users can use the summary to prepare separate deposits for cash, checks, and each type of electronic payment that has cleared the actual bank account.
• 3-Step Cash Management – Provides separate steps for receiving and counting payments, moving payments to the designated cash manager, and completing the final reconciliation and deposit. This provides an additional level of verification between the person receiving the payment and the person responsible for managing the funds.

For the 3-Step process, the Cash Management screen includes:

• Move Cash – Record payments transferred to the designated recipient or cash manager.
• Receive & Count Cash – Receive and verify the payments that were moved.
• Final Reconciliation & Deposit – Reconcile received payments and prepare separate deposits for cash, checks, and each type of electronic payment.
• Reconciliation Logs – View records of cash management and reconciliation activities.

How to Use 1-Step Cash Management

1-Step Cash Management provides a faster way to reconcile and deposit payments when counting individual bills, checks, or payment types is not required. It allows users to select the payments received and make a deposit based on the total amount.

1. On the Final Reconciliation & Deposit tab, review the payments available for deposit.
2. Use the available filters to narrow the list:
   • Warehouse
   • Payments Received By
   • Batch #
3. Select the payments to be included in the deposit.
   • Use the Select All checkbox at the top of the checkbox column to select all displayed payments.
4. Click Make Deposit.
5. The deposit will be recorded in the Reconciliation Log.

How to Move Cash and Payments

Move Cash is used to transfer collected customer payments from the person who received them to the person responsible for processing or reconciling the payments, such as the Accounts Receivable (AR) team.

1. Count the cash received.
   • Count all cash and enter the quantity for each bill denomination.
   • The total cash counted should match the Cash Payments Received amount.
2. Verify other payments received.
   • Review the Check Payments Received amount and verify that it matches the checks being transferred.
   • Review the Other Payments Received amount, which includes payment types such as Credit Card, ACH, Wire, and other electronic payments.
3. Add Notes as needed to provide additional information about the cash or payments being transferred.
4. Click Move Cash & Print Cash Movement Report to complete the transfer and generate the Cash Movement Report.
5. Review the Print Preview to verify the report details.
6. Print the report as needed.

How to Receive & Count Cash

Receive & Count Cash is used by the AR team or other designated personnel to receive payments that have been transferred for processing and reconciliation.

1. Select the batch to be received and counted.

   • Review the available batches.

   • Select the appropriate batch and click Receive & Count Now.

2. Count the cash received.

   • Count all cash and enter the quantity for each bill denomination.

   • The total cash counted should match the Cash Payments Received amount.

3. Verify other payments received.

   • Review the Check Payments Received amount and verify that it matches the checks received.

   • Review the Other Payments Received amount, which includes payment types such as Credit Card, ACH, Wire, and other electronic payments.

4. Review the Notes from Cash Movement for any information provided when the cash and payments were transferred.

5. Add Notes as needed regarding the cash reconciliation.

6. Click Receive Cash & Print Cash Receipt Report to complete the process and generate the Cash Receipt Report.

7. Review the Print Preview to verify the report details.

8. Print the report as needed.