We just went live with Epicor 10.1 this week and our Accounting Department has a question about cash transactions which are done outside of an AP check run.
In the old system, any transaction needed for the bank reconciliation had to go through a checkbook. Any journal entry referencing a cash account would not show up for reconciliation.
Is this the same in Epicor? If not, how are people handling this situation?
TIA!
Beth
Beth,
Are you using the bank reconciliation module?
There is an option for Bank fees there.
What other items are you looking to do?
Brad
Yes. Same.
Do a cash adjustment, or misc receipt, or misc payment…etc… you want
this going through the submerged. Do not process a gl journal entry to
cash…
Andrew Fagan
afagan@sonasgrp.com
617-335-0505
You need to enter any bank transaction (service charge, interest income, etc.) through Bank Adjustment Entry.
In E9, you could enter any G/L code you wanted in the Bank Adjustment entry screen.
In E10, you will need to set up Bank Fee’s for service charges, interest income, etc. that you select in Bank Adjustment Entry.
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thanks everyone for the information! I will pass this on to our Accounting people. Sorry I didn’t get back to everyone sooner, but it’s been hectic here keeping everyone supported! Boy my arms are tired…lol! Have a good weekend!