Today I finished the F140 Advanced Cash Management (V4.0) course. Here are the main topics that were covered:
- Deposits
- You can enter your customer payments and then do a separate deposit where you select the payments that are going into that deposit. So, maybe you received four checks from customers today, but only three of them made it into the bank deposit for the day. No problem, you can select only three payments when you create today’s deposit transaction, then include the fourth payment on another deposit slip tomorrow.
- Payment Reclassification
- This feature allows you to enter payments that you received, but you’re not sure where they came from. They will accrue in a GL account of your choosing. Then, once you determine who they relate to, you can reclassify the payments which removes them from the GL account of your choosing and into the Accounts Receivable GL account.
- Bank Statement Upload
- This allows you to import transactions from your bank. You can either upload an OFX file (which most banks support) or a regular Excel file. If you upload a regular Excel file, you get to map the fields so it can pretty much be in any format. You can match the imported transactions to existing Acumatica transactions or create them in Acumatica if they don’t already exist.
- Bank Statement Reconciliation
- The Bank Statement Upload feature marks transactions as cleared. The Bank Statement Reconciliation feature is where you actually check off which items appear on a particular bank statement. However, you can sort by the cleared box so all the cleared transactions will appear together.