B A N K I N G P R O C E S S | I N C O M E J O U R N A L R E C E I V E D B Y D E A D L I N E
Step
Tasks
0. Reports Received from DOA
Review documentation to ensure proper day Reports due by 10 AM local time for prior day, weekends due by 3 PM local time
1. Pull Daily Activity in Wells Fargo Log into WF
Download ACH Origination Report in Excel format Download Previous Day Composite Report in Excel format Download Previous Day Composite Report in BAI format Download Previous Day Balance
2a. Review Income Journal in Profit Sage Review documentation and ensure it supports the IJ Confirm revenue Confirm credit cards (FD and F&B) Confirm cash Cross-check check log to check deposit Confirm tips Confirm ledger balances Confirm banquets Review manual adjustments
Review misc non-revenue (for balance sheet related transactions)
2b. Export ProfitSage Reports
Download reports in excel format and input reports into Depository Reconciliation tabs Run, download, and copy/paste Accounts by Day Report in Excel format Run, download, and copy/paste Download Daily Cash in Excel format Run, download, and copy/paste Credit Card Commissions Report in Excel format
3a. Post GL and banking entries in Sage 300 Import IJ into Sage Go into G/L module
Open entry and spot check to verify correct day's data Post Go into bank module Open post entries module and look for duplicate data Post
3b. Review & Import Wells Fargo BAI Activity mport BAI file in Sage
4. Match daily deposits to depository spreadsheet Match Cash deposits in WF to spreadsheet from ProfitSage Match CC deposits in WF to spreadsheet from ProfitSage Match Chargebacks in WF to spreadsheet from ProfitSafe
5. Post Bank Activity not on BAI Tool GM Checks: Create invoice and reconcile in Sage
Concur Batches: Reviewed by DOA, entry created through Payment Batch List, reconciled in Sage ACH Deposits with identification: Antenna Income/CSI Commissions/Universal Vending ACH Withdrawals grouped together (Fleet Card, CSI Vcard, other AP transactions) CSI Vcard
6. Sage Reconciliation
Update all account balances in Sage with Wells Fargo balance for the day DEP: Reconcile each item fromWF activity to it's matching Sage entry DEP: Reconcile each item fromWF activity to it's matching Sage entry OP: Reconcile each item fromWF activity to it's matching Sage entry GM: Reconcile each item fromWF activity to it's matching Sage entry
7. Balance Wells Fargo to Sage
Use property balancing tool for depository account Unable to calculate amounts to clear To do away with balancing tool, need a report in Sage
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