Credit Card Reconciliation in Sage 50
Credit Card Reconciliation in Sage 50 provides you with a secure passage to the employees to input all the entries and accounts in a correct manner. It provides a right knowledge of service fees to the user along with interest and unauthorized transactions.
Step to Create Credit Card Reconciliation in Sage 50
💠 Click on the credit card that needs to be reconciled.
💠 From the statement, enter the last date
💠 Now, check beginning balance in the statement for any disparity or not.
💠 Now, enter statement ending balance
💠 If you get an incorrect result, you need to review the reconciliation of the last month.
💠 Enter the negative number for the balance in the down-right corner of the windows for Credit Card.
💠 Enter statement’s ending balance.
Total Time: 35 minutes
This is basically categorized into two main parts:
💠 By Credit, Debits or Deposits
💠 For all the transactions, some credentials will appear on the screen: Amount, Date, Check numbers, payees/retailers and description.
Steps for Transaction via Credit Card in Sage 50
💠 You will see the checkbox right next to the Bank Statement. It is basically divided into two parts.
💠 The top section will show you charges in your statement
💠 The lower division will show you the payments you are making or have made.
💠 It also helps you keep check on the records whether they are cleared in general ledger or not.
💠 If you get all the transactions in the credit card, it will show you no disparity in un-reconciliation.
💠 Make sure you verify all the transactions by keeping a check on the statement so that you can see the listed transaction in your Sage 50 Accounting Software.
💠 Now, click on the right icon in the cash advances to navigate to the adjusting journal or any transaction that is lost in the statement.
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