Reconciliation Efficiency

Hi.

Firstly, Manager is amazing. Leaves the mainstream common bookkeeping/accounting apps for dead. So thank you.

I am using the desktop version 21.8.27. I have done my first month’s reconciliation since using Manager, and while I can see the great intelligence in its method of finding discrepancies, it did not help me. However, I am sure it is still a very useful feature. After spending around 7 hours on reconciling the month, I found $700 worth of receipts not entered, and no evidence/invoices etc as to which jobs/customers this amount was for. It is a complete mystery. To resolve this issue, I simply entered the $700 receipt and gave it a desciption of “discrepancy…”.

This amount of $700 pertained to eftpos terminal payments, and yes I do attempt to print and retain all my eftpos receipts, and no I still cannot account for this money. Anyway, the eftpos terminal payments are periodically lump sump deposited into my bank account anywhere between 1 and 3 days after taking the eftpos terminal payment. This means I cannot easily associate my Manager receipts to which lump sum deposit in my bank account it belongs to.

It would benefit me greatly if the reconciliation screen, or receipts and payments screens, could be given a reconciliation check box (or toggle button) with editable Cleared Date, while tallying up a reconcile total as you check/uncheck the reconcile boxes, something like my photo mockup. This would allow me to do what I had to do to figure out this discrepancy in much less time. Or perhaps the developers can think of a better way?

Does any else think this would be a useful feature?

BEFORE:
reconciliation1

AFTER:

I see no benefit to this for the purpose you describe.

First, your screen shot does not come from v21.8.27. Receipts and payments were split into two separate tabs last April. You will never get any total in either tab to match a bank balance. (Nor would you in your obsolete version of Manager.)

Second, what is the benefit of summing randomly chosen transaction amounts? Your problem is that you did not enter some transactions. Therefore, they could not be reconciled. They also would not have been present to select under your scheme. The bank reconciliation process already tells you how far out of agreement Manager is with your bank statement. So checking boxes is pointless for that purpose.

Third, you seem to have looked at sales invoices while trying to reconcile a bank statement. But sales invoices are not reflected in bank registers. Only receipts and payments affect bank balances.

The solution to your problem lies with better discipline in entering transactions. Your situation seems to suggest using imported bank statements rather than manually entered receipts and payments.

I suspect you are looking for the sort of enhancement discussed in these threads

Todd, Tut is correct in saying you are trying to reconcile in the incorrect place. The purpose of the bank reconciliation should always be to confirm that all the banking (payments and receipts) transactions are accounted for in Manager. In addition to this, you want to confirm that all your EFTPOS sales have been deposited. That is a different control point in the sales process. To do this effectively, I can reccommend creating a EFTPOS Clearing account in your chart of accounts. You process a Sales Journal, credit Sales and debit EFTPOS Clearing, then allocate all your EFTPOS deposits (Receipts) to this account as well. The balance of this account will represent undeposited EFTPOS sales. It is much easier to find a descrepancy this way since you will be able to match all the debits with all the credits in this account by a simple copy and paste to a spreadsheet.

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The photos in original post where from a prior version, yes, but only to illustrate my point.

ok, now that I have performed my second reconciliation, and have confirmed all transactions and amounts are balanced, I can see how reconciliation can be improved. It is just a matter of going through the list in the screenshot, editing each transaction to set them cleared on the respective date. But because I may have 1 to 5 Manager receipts that belong to a singular EFT deposit on my bank statement, I have to use a seperate calculator to determine which/how many Manager receipts belong to the singular EFT deposit. This is why is would be extremely helpful (more time efficient and convenient) to have another date column titled “Cleared” in which I change it to the date the transactions cleared. Upon entering the date, it will display a calculated total of cleared transactions which will reset to zero when you click a “Submit” or “Apply” button. Then those reconciled transactions will move to the lower area of the reconciliation screen like it already does when a transaction is reconciled. I hope that’s clear. P.S. the Manger receipt dates are not always reliable, so I cannot base it on that. I still have to calculate. As it currently stands, I have to go into each receipt to edit its cleared date which is the annoying thing about it.

If you reconcile based on imported bank statements then the cleared date for each receipt and payment is always correct, because it is the bank who sets the clearing dates.