[Busmanagers] Receipting

[Kendt, Rochelle A]

Hi Marilyn,
It's a pain but the 4 batches a day make it easier to track in the bank rec.  To make your eftpos easier to reconcile, run a "manual settlement" on your eftpos machine (you may need to check with your bank on how to do it) once you've completed your banking for the day.  This will then process further eftpos transactions into the next day on your bank statement.  The eftpos system has a default settlement time, usually around 11.30pm if you don't process a manual/early settlement.  Be careful, as it will generally only allow 1 manual settlement for the day, so you need to be sure that you are finished with banking.  From a cases21 point you would then open up new batches & continue receipting as normal for subsequent eftpos transactions.   Sometimes you will get delays on deposits with this method, but this is usually due to other banking institution delays i.e. the cards are held by other banks.
I've found this makes the bank rec much easier.  Canteen & uniform shop as separate batches via GL.
Regards
Rochelle Kendt
Surrey Hills Primary School/Mt.Waverley Secondary College
 
 
________________________________

From: busmanagers-bounces at edulists.com.au on behalf of Whiteway, Marilyn J
Sent: Tue 3/05/2005 10:08 AM
To: Business Managers' Mailing List
Subject: [Busmanagers] Receipting



Would be very interested to hear how others are managing their daily banking.  We are a large secondary with substantial daily takings.  We do not operate a drop box but receipt as parents/kids come to the window.  

21F Help have 'instructed' me to run 4 batches per day - family cash/cheques: family credit card/eftpos:  and same again for sundry (plus of course the GL takings from the canteen!).

I am finding bank reconciliation cumbersome to say the least!  We always do our bank around 2pm so then frequently end up with 2 entries for the same batch on the bank rec (1 for each of the days).

 

Any improvements greatly appreciated.

 

Marilyn Whiteway

Business Manager

Brentwood Secondary College #01-7647

Watson Road

Glen Waverley  3150

 

Tel:  8545 0305   Fax:  8545 0355

whiteway at brentwood.vic.edu.au

 

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