9 Nov 2023 | Windward Software
Navigating Day End Procedures-Cash Clearing & Bank Deposits in System Five
This Windward Webinar is about the importance of managing and navigating cash clearing, bank deposits, and other end-of-year processes in business accounting. The conversation also touched on the use of Windward System Five and its features for implementing these procedures effectively.
- The meeting started with Kyle, the moderator, introducing the webinar series.
- The series will cover topics like cash clearing, bank deposits, balance ledger, stock inventory, and creating custom reports.
- Scott, the speaker, emphasized the importance of having a systematic procedure for end-of-year business accounting, particularly if it's the financial year-end.
- He discussed how cash clearing works in System Five and how payments should be tracked to ensure they are accurately reflected in the bank account ledger.
- He suggested two methods: using direct accounting entries or journal entries, and using the point of sale transaction approach.
- Scott pointed out the importance of clearing out the cash clearing account and ensuring it balances daily.
- He demonstrated how to view all transactions for the day using the general ledger and how to check the balance of the cash clearing account.
- The speaker then proceeded to use the point of sale transaction report to create a journal entry.
- Scott explained the process of closing the batch at the end of the day and how it helps in keeping track of payments.
- He also highlighted the importance of preparing bank deposits and how this process can be streamlined using System Five.
- Finally, he pointed out some exceptions and areas that may need special attention, such as checks and EFTs. He suggested ways to handle these exceptions effectively.
0:08
Hello, everybody, and welcome to the year end webinar series, Presented by Scott Roxanne's. My name is Kyle.
0:15
I'm gonna be there person that will handle all the questions and all that kind of stuff will moderate this thing just a little bit.
0:23
And this is the first in the series, Navigating D N procedures, And, uh, he's kinda if you run to the next slide there.
0:37
Thanks.
0:41
We've got couple of topics coming up here. This is a five part series.
0:46
So today's, of course, navigating the procedures with Word system five, uh, it's got to be going over mostly cash clearing and bank deposits and that kind of thing. And then, the next one is kind of balance your ledger and stock inventory, and then we'll get into your inventory, getting it ready for year end. We're going to skip a week there, just because of the US holiday, for Thanksgiving.
1:09
Then, we'll have two parts. For inventory.
1:13
It's going to be mastering the art of the scan batches, which is literally what it means you're going to be using technology in that case, or the big count method will be covered on December seventh, which means you're going to be doing it, either on paper or using Excel, to get those counts.
1:31
Then the last in the series is a step by step guide to creating custom reports.
1:38
And we'll probably go over a little bit about Windward intelligence and that one too um, all right well not me let's get over to Scott because he's got all the good content.
1:49
Thank you Kyle And thanks everyone for coming today. Excited to do this year and series with you.
1:57
With the UN coming, there's lots of little steps to do in your business and we want to give you every opportunity to have your system well organized for the end of the year, especially if that's your financial year end.
2:09
Now, the cash clearing or the end of day procedure is one of those things that we, in implementation, help you with when you first go live. And there's so much going on when you first go live.
2:20
It's also one of the things we often find has gotten out of balance when we later connect with clients, to work with them on something else or maybe the specifically.
2:31
So first, we're going to talk about how this concept of cache clearing works in system five.
2:37
And how you make sure that all of the payments that came into system five are going to find their way into your bank account ledger.
2:44
The goal being the balance in your ledger for your bank account is the same as the balance in your bank account as often as possible. It's hard to get it live, of course, but daily would be great.
2:57
And we're just going to go through how you affect this with journal entries and how you can use a couple of key reports in system five to help you.
3:06
There's sort of two ways that people go about this, so, I'm just going to touch on those here.
3:13
If you've been using system five for a very long time, we do have some users have been using us for 20, 25 years say.
3:19
Then we probably at the outset, showed you how to use journal entries, so, direct accounting entries, which clear out this cash clearing account.
3:27
This is still a good process and there's nothing wrong with it at all.
3:31
We've made some automations and improvements that can help you to streamline this, but there's still use cases.
3:37
For example, if you have multiple currencies, you're using our multi currency feature, then the journal entry method is still the way to go and even though I'm going to use some of the reports I'm talking about in the end, you'll see it's journal entries that really end up doing the work.
3:53
There's just some reports to help you create.
3:56
The second approach is to use the point of sale transaction approach.
3:59
That, this is a key report, It's the first report under Reports, and the one I'm going to go through in the most detail today.
4:06
So let's get to it, with a lot of topic, a lot of content on this topic, and there's a lot of little questions that can arise. So we'll try and get through all of it today. We'll do our very best to leave some time for questions at the end.
4:22
However, there's quite a bit, so I'm going to dig in.
4:25
So, the first thing I want to make clear is what I'm talking about when I say cash clearing.
4:32
So, specifically, I'm going to show you what happens when you take a payment on a sale in the accounting.
4:41
So, I'm gonna go and edit one of the sales that happened today.
4:49
And, let's have a look at, I don't know, say, mister Jackson here.
5:01
Now, in any sale, any type of sale, this is a cash sale, if you want to see the accounting going on behind the sale, here's a little trick to do that.
5:11
In the sale, Goro Options, Invoice Options, there's lots of handy stuff in here, actually, but if you want to see what's happening behind the scenes in the transaction, you look right here under Edit, Single Transaction.
5:27
These two are also useful in different scenarios.
5:31
Let's leave that there for a second.
5:36
When I do that, the system brings up the sort of guts of the transaction, What's really happening behind the scenes.
5:43
And for our purposes, I'm going to click on that Transaction tab on the left, So a payment came in from mister Jackson for 103,616.
5:53
And you'll notice that when that payment came in the system, it was posted to the 2020 account or the cash clearing account.
6:01
So this is happening all day as you take payments.
6:05
Our goal at the end of the day is to make sure that all those payments find their way out of the cash clearing, or it's cleared.
6:12
And into our bank account, on the same temple or timeline, as they actually hit your bank account, getting this right will line you up for a clean and easy bank rec.
6:24
And of course, if you have 12 of those clean and easy bank recs, you're well positioned for a great year end procedures.
6:32
Before I go too much further, I just want to ask a question of all of you, so I know what your situation is.
6:40
So, first, I'd just like to know.
6:46
How many of you use System five for the accounting, This is really an accounting conversation, so that might be all of you.
7:13
I'll show that in just a moment. It looks like people are still clicking in.
7:21
OK.
7:27
Just share! That's what say most of you are using the accounting.
7:29
So this is a very important key step to getting your accounting, right.
7:38
Some of you are not. And this is a key step to transitioning to that.
7:43
There's some other things, if you want to start using system five accounting to consider.
7:47
But if you are not using it and you'd like to, then this is one process you'll want to get right as soon as you switch to it.
7:59
OK, so next, what I'll show you here is, well, what about all the transactions for the day? How do I look at everything in my cash clearing?
8:07
So I'll just exit out of this transaction and I'll show you how to find that.
8:14
So here you're under the general ledger, I can go to this leger numbers and I like to use this tool to list out the transactions in a given ledger.
8:25
So I'll choose lusts transactions.
8:29
I'm just going to do this by book month for the current month.
8:32
And I'm going to choose My Cash Clearing. Now, when you first go live, our default setup is the 10 20.
8:38
It does sometimes get changed, depending on your chart of accounts, But it probably has the same name. And I'm just going to view that.
8:47
This screen looks a lot like, well, I guess, kind of half of your bank rec.
8:52
It shows all the payments coming in, so for example, or payment from mister Jackson here.
8:58
It's right there.
9:00
And you can see some previous days that we've got going here, here's the payments coming in, and then here's the result of my day and procedures posted right there.
9:11
And you can see, if you use the point of sale transaction report, I'm going to show you the use today, it also labels that.
9:17
So, I can see my payments coming in.
9:19
Those were all accurate and now it balanced to zero.
9:23
The goal for what I'm showing you today is to make that zero happen as frequently, as is reasonable for your business.
9:32
What I'm showing you is designed as a daily procedure, but it can be A twice a week procedure or a once a week procedure.
9:40
It's easier if you do it all the time, because you don't have to remember or verify payments from long ago.
9:49
So here, I can see the payments that came in today in my cash clearing.
9:53
And the total balance I have here.
9:59
So one thing, but you'll want to check, and if you're following along here, you may want to check it now, is, what's the balance of my cash clearing at any given time?
10:08
So now, because I'm also curious about that, I'm just going to ask you if you are following along, or if you know already, and that's why you're here.
10:20
What sort of balance do you have? I was going to use numbers here, but everyone has their own.
10:29
So the goal would be that it's the balance the payments that came in today.
10:35
But there's lots of little gotchas that happen.
11:09
That might be kind of a hard question to answer, but most of you have had a chance to vote, so.
11:20
I'm just going to share that. So, I think a lot of you, more than more than half, really do have a grasp on this, So maybe there's just a couple little tweaks you're gonna pick up for me on the way through the presentation.
11:31
Maybe this isn't the part of your your own procedures, where you need to focus, for the rest of you, if you answered anything, but the top line, really, there's probably something you can do to tighten this up and make it better. And if you've got a really large balance in there, there's specific things which might be outside the scope of today's presentation that you can do to help yourself out there.
11:52
So, hide, that, will just keep moving.
11:59
So at this point, we can see the payments have come in. They've hit our cash clearing.
12:03
What's next?
12:05
If you're using the journal entry method, you would simply post a journal entry which clears that amount out.
12:13
But what I'm going to show you today and focus on today is the use of a report that helps you to create the journal entry that I'm speaking about.
12:22
And it's under Reports, it's the very top report.
12:27
So if we click on that, the point of sale transaction report.
12:33
You'll see this screen now if you've never used this before.
12:36
Then this little tick box down here, it's probably not ticked and you'll want a ticket Just close out so it saves that And come back in here and then it'll stay ticked for you.
12:47
I've never helped anyone who does anything but the bottom cache and AR at the same time, So probably you get to this screen each day.
12:54
You don't do anything. You just click Next.
12:57
This is a list of the terminals that are taking payments.
13:01
Of course, my situation is quite simple. I just have a couple.
13:04
But you might have a long list here.
13:06
And this does look slightly different if you have multiple departments.
13:12
Same here. You've got the workstations on the left.
13:15
And you can see which batch you are on, on the right hand side.
13:19
Now this is one of those common misconceptions about this report. It is a day and report.
13:25
However, it's really a batch report.
13:27
And what that, what I mean by that is, it we'll keep running and collecting payments into its queue until you stop it and start a new one.
13:36
So if you don't close it at the end of the day, it will run two days together. If you don't close it at the end of the week, it'll run two weeks together.
13:44
You'll want to close this on a consistent basis.
13:46
And the ideal timing of that would be the same as the timing of closing, your payment processing machine, So every time you close out that pin pad and get totals from that, you want to be closing this. That way, when the deposit from the pin pad hits the bank, it should be the same total that you see here.
14:07
You can scroll back to previous batches, which is a common bookkeeping function, go back and look at yesterday's or the days before, and you can see the times that they are in effect. I can't change the times that they are in effect.
14:23
It's just from when the last one ended when this one ended.
14:28
So the current one is currently running.
14:30
Number four, Here, you click Next.
14:35
This screen, you probably don't need to do anything. This is where you can log which of these reports you'll see in here. You print out if you hit the print button. My advice would be, you don't need to print any of this. It's always saved in system five.
14:47
Just leave it there.
14:48
So it's not commonly used these days.
14:52
And now we get into the meat and potatoes of this report.
14:57
I always want to explain this report when people are first going live.
15:01
I start on the left, move my way to the right.
15:04
So shear under tendered, you're going to see.
15:09
The totals for the day, the total by tender type, and now everyone has different ways they allow their customers to pay them.
15:17
So these will look different for different businesses.
15:23
Here, although, I know that says total cash, and that can be a little misleading. This is the total number of payments that came in in the day.
15:31
So if you've closed out your pin pad and you've got the total of that. You've got the all your checks in front of you, and you've total those up, and then any physical cash you have.
15:39
And it totals that same number. You don't have a lot of work to do here.
15:43
And so this step, I'd suggest, is, the person doing what I'm doing right now, would be the person closing the doors at the end of the day, in your business, They don't have to be your bookkeeper.
15:53
They're just trying to see if everything matches that.
15:56
Put it all in one place for the bookkeeper.
15:59
If everything doesn't match, though, they should probably look into why, maybe someone made a mistake and typed in the wrong number to find those differences. We go to the Next tab, tendered details.
16:13
Now here, under the Tender details, it breaks down your payments by tendered type.
16:18
The process to go through is, go, say, for example, the Cash payments.
16:24
Verify that you did receive this cash and tick it off, you'll notice that the confirmed value here changes when I take each one.
16:34
You can also click the word Confirmed, and it'll tick all of them.
16:39
So for example, if you're under Debit, I can take or Antic both.
16:45
Now, I have one in here that seems a little off.
16:47
I mean, I know that Smith construction usually pays me by check, typically, not by debit card.
16:54
So I think this one is wrong, so I'm going to leave it off.
16:58
I don't think that that amount is coming in this case out of my bank account.
17:06
And you can see that it doesn't include it in the confirmed value.
17:10
I saw my, I got an e-mail that I received an EFT payment from Ms. Jackson.
17:15
And a couple of checks came in from Smith Construction, which is what made me suspicious that they paid by debit.
17:22
So, you check these back, and you'll also see in this list, and this is another thing that throws people off.
17:27
Corrections, you made to payments.
17:29
So, you might have batch something yesterday, but only caught the mistake. today.
17:33
You'd see the correction here, and depending what you put on your journal entry yesterday, you may put, do a different thing here.
17:40
Lots of unique scenarios that can come up there.
17:45
If you deal with a lot of cash, then the next steps important, If you don't, And that's more common these days, the next step you can kind of skip.
17:54
So once I've verified all the payments that have come in, I go to cache count, here, I can go through and count.
18:01
Like we used to do before, La Internet came along and know couch or 20th and Tangier Loonies and Tunisia Dollar bills, and verify the amount in your float and how much you're going to deposit.
18:12
If you don't want to go through that every day because it's rare, you can just click this check mark here, and it'll just use the amount of cash brom, the Cash tab right here, without any counting of money.
18:29
Otherwise, it's looking for you to balance out the cashier and your float which goes right there, to come up to the correct amount that you're going to take to the bank.
18:37
We're putting you're safe.
18:41
Now all of this leads into this step, which is the deposit worksheet, So once all of that's happened with the closure.
18:49
Usually, even if they found a difference and corrected it, then at this stage, this is where I would suggest you divide the duties.
18:58
The person who's closing, it's gonna look here. So I like these totals.
19:02
I think we've got all the payments put into the system correctly.
19:07
And I've got the slips, the slip report from the, the pin pad, the physical checks and cash all here. I'm going to put that in the save for the bookkeeper the next morning.
19:17
Unless, they happen to also be the bookkeeper.
19:20
Now, what they want to do is close the batch and when I say close the batch, what I mean is click the green check mark.
19:25
When I help people go live for the first time, I say, The only thing you need to remember here, at the end of the first day is click the green check mark.
19:32
Just click it Somehow. that doesn't always happen.
19:36
But if you do that, day one and day two are day 201 and D, 202 remains separate. If you don't do that, they get mixed together.
19:45
And you get a little bit of a bookkeeping exercise.
19:50
So I'm going to click it.
19:53
Prompts me to say for all the stations, yes, And that locks down, what's in here.
20:00
Now, you can no longer really edit these numbers, but the important thing to understand here is, I still haven't done any accounting. I've just reviewed a report.
20:11
To do the accounting, we do the next step, that'll show you now.
20:14
There's a little bit of setup for this next step, and we have a handout in today's webinar.
20:21
That is a really great manual by my colleague, Robert, that walks you through all the setup, because it just takes a little time.
20:27
So to set this up, you use this setup button, and I didn't get a little of our help, or review the manual.
20:34
Here, I am just going to click Prepare Bank, Deposit. Now. This is where we transition from just being a closer to being a bookkeeper. So this might happen the next morning.
20:43
They would come in here, login to the last day's report, and click Prepare Bank Deposit.
20:49
It depends on your relationship with your staff.
20:53
Now, if I hit Create Deposit, it gives me yet another chance to review these numbers or correct these numbers before I actually do any accounting. So I could still change this if I want to.
21:06
I'm going to leave it.
21:08
I hit Next.
21:09
Here's a preview of the journal entry that I will make.
21:12
And in this preview, you'll see that the debit card transactions, and in this case, the EFT Transaction, are going to hit my Bank Account.
21:21
Oh, and the cash clearing is going to be cleared out with credit.
21:26
But you'll also notice that I've created this other leger, the 10, 12 account, and the cash and the checks are going there.
21:33
And that's because I keep my cash and checks till Friday. They don't have that many of them.
21:37
And I walk them to the bank.
21:39
They took, they're in my safe for the week, so I want to get them out of my cash, clearing each day to keep it nice and tidy.
21:45
So I clear the whole amount, but I sort of store the cash and checks both physically in a safe, we're drawer, or my pocket, or, but wherever you put them, and then take them at a later date.
21:59
So that are there going to be another clearing account that I just called safe when I set it up.
22:04
Now, here, if you have, if you're the Bookie for doing this, you can probably just hit the post button too, put that entry in your ledger.
22:11
If you're not the bookkeeping staff, but you've been trained to come this far along, you're the closing person. You might save it unposted for the bookkeeper to edit the next day, or at the end of the week when they come in or remote in.
22:22
That's becoming more frequent with our cloud solution, people remote in the books.
22:27
I'm going to post it, and now, the report was finalized by the person last night. Today, have come in and verify the details and have posted it.
22:36
At any given time, I can come back to the report and view the journal.
22:41
That was posted, it'll take me to the journal entry, and it creates a connection between this journal entry.
22:48
And that point of sale transaction report lists it right there.
22:52
And I can also take a step back, I'll close out of here.
23:03
Just confirming that, I want to close out If I go look at my ledger, same as we did at the beginning.
23:19
We'll see that I've cleared the account out.
23:23
Now I had some lingering balances. I wasn't perfect.
23:26
I have a little bit of extra money coming in.
23:29
And this is I suspect to do with this debit transaction that had to do with smiths construction, which usually who usually pay me by checks, and it might have to do with my cache.
23:40
But now I know I have something to chase.
23:42
So if your month to date number is not zero, you have something to chase.
23:48
If it's less than a day sales, to probably just have a correction to chase, it's more than a day sales.
23:54
You might have a day that you're behind if it's more than a month's sales. This is getting out of balance. And it's going to be hard for you to remember what happened if you don't get on it.
24:01
If you have more than that, you probably need assistance going through it to try and figure it out.
24:06
There's some options around that that we'll talk about A few minutes here.
24:12
I think I've made the classic Scott Robbins blunder of talking way faster than my slides. So let's check.
24:19
There are a few exceptions to what I'm showing you, that we can kind of review here.
24:25
So, for example, the whole goal of this on the bank rack, is to make sure your tender totals in that journal entry match on your bacharach, what happened on your bank statement. So, certain things come in in a different tempo, or a system five will lump them together.
24:40
If you use the Point of Sale Transaction report culprits these days, check's some banks if you're scanning checks or even if you drop them off, they'll put each check into your bank separately.
24:52
And so you'll want to do that on your Journal entry. I'll show you in a moment.
24:56
The FT's will come in independently.
24:59
and you'll need another way of making sure you put the EFT that came in today in the system five, You know, an e-mail or website payments similar, you'll want to go to the journal entry. And instead of having a lump sum, you may want to break that down. So, let's just quickly look at that.
25:24
So, if I, I'm going to go look at the journal entry I made for today.
25:30
And let me, I'll use the checks as an example.
25:33
So, first, I'll go back to my report.
25:38
I'm gonna go back to yesterday's one I just did.
25:44
And I see one question there. You don't see this. You don't see this.
25:48
That's probably because that's not ticked right there.
25:56
Or, are you're running an older version? But it has to be pretty old. This has been around a little while.
26:08
So if I look at my checks Oops, Wrong Day, Pardon me, back to yesterday.
26:16
If I look at my checks, I have to 300,711, 940, 38.
26:21
So if my bank deposit see separately, my bank rec will be a little bit weird for me.
26:29
So I might want to go to my journal entry, and when I do that Journal entry, let's go to Journal Entries, and we'll edit it.
26:42
And here it is, deposit POS, report number four. That's the other thing I like about using that report. Is it labels that journal entries for you, and it's clear which report they relate to.
26:53
So, this, this line here, I might choose to actually make two lines.
26:59
So, if I unposted this entry, I might edit it as the bookkeeper, and I think instead of this, it might be more like 9400 and 337.
27:14
She's got the exact amounts.
27:15
But the I break it down like that, and it would be the same with FTEs.
27:19
If you had multiple EMTs, you probably want a separate line for each one.
27:27
So, those are a few little gotchas.
27:31
I know we're nearing the end of our time.
27:35
So at this stage, I think, we'll wrap up the presentation.
27:39
There's a lot of content, there's a few variations to this, that people use, but the idea is you really want your cash clearing clean to have a good financial year end, and there are a few options to getting it that way if it's not.
27:58
And Kyle is going to talk about some, some resources for you.
28:01
But before we shut the Gingers trap, I'll just say this, the team here, when Word professional services, myself and Harry and Alan and Robert, we help people with this kinda thing all the time.
28:12
And it's often a little bit of an accounting project, So there's a way to get our help if you need to. And there's also some great free resources here. And I can now hand it over to you there.
28:29
Great, thanks, man. Lots of information there. I'm gonna go over a couple of slides here. If you have any questions along the way, I'm not sure that we're gonna get to all the questions. But we'll try and leave a few minutes here, and we can go a little long to, just to get some, some questions answered.
28:49
But, yeah, we'll go ahead and go over the free resources, real quick.
28:54
Um, I'm gonna just switch the presenter to myself, if you don't mind.
29:01
I'll make sure I got through a screen there.
29:04
Looks like it.
29:07
Uh, did you go, Yes, it looks that way, OK, perfect, yes, kinda confusing on there. All right, so, yeah, there's a quick reference guide.
29:17
A lot of people don't know about this, and since we do have so many people on the call right now, it's, uh, it's probably a good thing here that we're talking about these things. You can go to We were software dot com slash guide and there's an entire kind of how to guide and a lot of these procedures and there's the ability to search in there. It's got the point of sale transaction report guide in there, the entity procedures and the journal entries. Of course, we've also got the Windward Learning Academy as an option.
29:45
We recommend using the search by Tag function in there. Otherwise it kind of gets really slow to find stuff.
29:51
So if you search by tag, you can look at bank reconciliation in there and then also end of day and there's some great videos and resources there.
30:02
And of course the the handout that is attached right here in the goto webinar. You can download that, hopefully. And if not, we'll be sending that out after the show as well. But there's a little cheat sheet that was developed by Robert.
30:24
And again, we'll deliver this after the webinar for you guys.
30:30
All right, and the next next slide here is all about our professional services, and, of course, you know that.
30:38
That Scott here is part of that team.
30:40
We've got a number of people that, this is, this is there are 100% their job, is to make sure, um, people are successful with their software.
30:50
You can start with the businesses efficiency check in, in our professional services catalog and they can kinda go through and let's see if there are any problem areas and identify them and then figure out what the plan of action is to go ahead.
31:06
We also have some pre configured services to choose from and those are all located at windward software dot com slash professional dash services.
31:16
We do custom programming and I noticed there was a couple of people in the room here that have taken advantage of this service where we can build you a solution to a business problem. So, you know, there's a variety of different business types that we serve, and most of the time, we can we can come up with a solution to any business problem with a little bit of custom development.
31:41
We have a group of people that that, that is absolutely their job, they analyze it, they figure out what the solution path should be.
31:50
Then they, they go after it and then they build it.
31:55
Then, of course, if you have a range of functionality to train on, maybe you did the Business Efficiency check in and you noticed that you have several different areas that you'd like to focus on. You could get an hour plan and just go after things on an hourly rate basis.
32:11
Um.
32:14
We didn't want to leave everybody empty handed we, we, we know that there was a lot of value delivered in this presentation, but we also have a deal for you.
32:25
So we thought we could sweeten things up by offering 10% off of wingard professional services Now, through the end of the year and we've got a promo code: year, dash, and dash 23 for that.
32:40
That QR code right there will take you right to our professional services site.
32:46
And.
32:49
This is where I'll end up taking you on our professional services site.
32:54
We've got the professional services catalog here that you can browse.
32:58
There are a couple of different areas of pre configured, um, plans, role based, efficiency based, and technical projects, for instance, it's kind of like a catalog where you can flip through the different things here.
33:12
Let's just take this business efficiency.
33:13
Check in here, then we'll get a little video from our friend, Scott here plan.
33:19
I'm going to pause now, and on this page, you just put your e-mail address in here. You hit the Next button, and it takes you right to the area to purchase the Business efficiency. Check in, or any of those other catalog items. You go ahead.
33:33
We're using our web cell technology here to go ahead in and deliver this.
33:39
And let me go ahead and hit the Checkout button here.
33:43
I already put the promo code in there.
33:44
So it's already calculated percentage off on that.
33:49
And you just continue until you check it out.
33:55
All right.
33:57
A lot of questions in the question and answer area is there.
34:02
If you've got some questions, go ahead and get them in there.
34:06
Um, is there any other things that you have for us here? Scott?
34:12
Well, here, let me, I saw some of the questions, So, while you were chatting, let me change the presenter.
34:22
me, Yeah, Can you see my screen OK now?
34:28
OK, here, let's go back to the demo, So, um, Leslie did ask if this was recorded.
34:34
At course, we are recording this, and so it's going to be available, the same places, all our webinar recordings. I think Kyle has that right.
34:44
Yep. Yeah, We're, we're going to be actually switching that up, so on the next webinar will be showing you guys where the new archives is going to be, but you will go to ... dot com slash webinars and there is a button on that page where you would go to see what the next webinars are. And it just says Webinar Archives!
35:03
As soon as we move that over, that button will go to the new stuff, OK?
35:09
So certainly, we'll be able to get get you a copy.
35:13
one of the other questions, I think, for us, from Sally, and she was wondering, I think, Salih, you're talking about this right here.
35:21
And what if I've got terminals here that I don't need here. Now if you're on premise then this is terminal maintenance. You can get customer care to help you get rid of them.
35:32
If you're in the cloud, then what you'll notice is that if people are using laptops or different devices logging in from home, that those terminals will be listed here.
35:41
So the list can get long and you just want to make sure that only the ones that are taking payments are ticked and they are the ones won't harm you in any way.
35:53
Salih, probably what you need is just a customer care ticket that is going to They can help you do terminal maintenance.
36:02
So, like, these are the names of that, that computers that are accessing the system, and that can be maintained, but just get some help from customer care on that one.
36:16
Just trying to see if there's another.
36:23
Oh, you've got Cash, doors.
36:30
OK, so.
36:34
If you have different Kash drawers, Sally, and this is, uh, one of those things, it's hard for me to dig into in detail the preparation, but if you have different cache drawers, when we looked at the cache count tab, you can have a different cache drawer like different cash drawer for each terminal, each till right here.
37:00
And you can also view it all together in one pile, which is, I think, what I would recommend, but I don't know your business, really.
37:06
So if, if, say all the cash comes together at the end of the day, from the forest Hills, and it's all put into pile uncounted, less the floats, You do that here, Consolidated, with this tick box, that off, this on, you put the total flow to the Fort Hillsdown there.
37:23
Or you take that off, and then you flip between them and do the one at a time.
37:29
Yeah, there's a use case for doing each tool individually, and that would be for Lean accountability, so you know, to verify that cashiers are turning over to Cashin, basically.
37:40
Yeah, See.
37:42
It just depends how you're running things, but this is, this is much more important in that scenario where you're running up like a liquor store or something with a lot of cash.
37:56
We do call them Tills is that a Canadian thinker?
38:00
Mmm hmm.
38:01
You call them tills, Register the US. Resident guys, that we get asked me. Yeah, All right.
38:10
Question two, did you get to them to see, sorry, let me pop up. Teaming didn't get logged until later. A credit card posted a day or too late.
38:19
Funny backdate, good question. Good question.
38:22
So the important thing to think about.
38:26
Here to not cause yourself undue stress is that the Journal entry, like the journal entries I made today, those are the things that feed into my bank reconciliation.
38:41
So if I load that up, I think I started it.
38:45
These are the journal entries I've posted, and they get posted with the date effective that I posted them. The point of sale transaction report does not affect my bank rec until I make the journal entry.
38:56
So, if you get something that gets caught later, it ends up in your point of sale transaction for today. That was really from two days ago.
39:05
What you really want to do is edit that Journal entry from two days ago, and add that amount or that transaction to the journal entry on the appropriate date, because it's the journal entries that really make the rubber hit the road when it comes to the bank rec.
39:23
So for that reason really, the point of sale transaction report is helpful in dealing with the people closing the tills, closing the registers, closing the door.
39:32
That journal entries and the bank reconciliation, that's the book keeping or accounting task.
39:37
And that's where the real accounting happens by separating the two duties, even though they still have a link.
39:44
You should be able to go back and edit your journal entry, and that'll make it look writing your bacharach.
39:48
And if you catch those as you go along, there'll be less work to do at the end of the month.
39:54
Who was that? Did that make sense?
39:59
Yeah, that's the topics that would be covered in the accounting role based plan that the Professional Services team would deliver.
40:08
Yeah, notice, with a lot of people that we go through this stuff, when you go live, it really helps to have a business efficiency check and happen, say, a year after you go live, or, or whenever it is in your business. A lot of businesses, the people that took the system live, don't work there anymore, or own the business anymore.
40:24
So, the only place there Another question there that we've got outstanding. You see, Carl? Was the Thank you.
40:32
Yep, OK.
40:33
So, the only other thing I'll say, because, there's some people here that might have come here, and they don't use the accounting, and they'd like to.
40:42
And this is an important process in doing that.
40:45
But if you've got a large unmanaged balance in your cash clearing, there are a few ways to deal with that.
40:53
The common way is when, if you want to start using our accounting and you have not, then usually what you need is a service called a ledger restart, which is in the same catalog that Carl showed you.
41:04
Where we help you zero out all the balances in your ledger and bring them in from wherever your books were happening on paper, QuickBooks would have you. That's another thing that my team does all the time.
41:15
It takes a little planning so you want to plan that out in advance.
41:18
Your end is a good time to do it.
41:20
The other option can be with the advice of an accountant. You could clear the cash clearing to zero by expensing it somewhere. But you really need to consult your accountant before doing something like that.
41:33
And then just start this process after.
41:36
So, just because I know some people come to this, looking to learn it, then they find a mess in their cash clearing, well, my team can help, but some of that help sometimes needs to be planned out a little bit.
41:54
I see Cheryl, yeah.
41:55
See, this is often happens.
41:58
People go live, or staff changes, or the go live is delayed, and the process of the bank wreck that I'm showing you here, where the cash clearing process is not baked in, let's say.
42:15
Good reason, there's lots of free resources, but also my team's at your disposal cell.
42:21
Um, I think that's all the questions we had. It looks like it.
42:28
Thanks everyone for coming. Love doing these things. Glad to see here. We'll look forward to next week.
42:32
We're going to talk a little bit about the money going out of the bank account And how you match up what you pay your vendors to the inventory that you receive from them.
42:45
Start with the money and now run the next topic money out. It's not as fun. Like the money out part.
42:54
Jen, thanks for the Thanks!
42:58
See you guys soon.
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