Platform - Account Register

Account Register Functions

The Account Register is used to manage your cash type accounts. 

Register Accounts are used to track checkbook transactions as well as cash boxes.  Cash boxes are used for such things as petty cash and as a holding area for undeposited cash receipts.

When adding Register Accounts you will mark one “Bank Account” type account as the default checking account, and one “Cash Box” type account as the default cash box.

The Account Register is used to:

• Record deposits
• Write checks
• Enter adjustments
• Transfer funds
• Void checks
• Reconcile accounts

Account Register Views

The Account Register has 2 different views.

They are:

• Transaction Review- this is used to record and manage transactions.
• Account Reconciliation- this is used to reconcile and balance accounts.
  • Note: Only one user at a time can reconcile accounts. 

Transaction Review

In the Transaction Review you will use the different drop-down menus to:

• Select an Account
• Select an Activity
• Select a Period

1. Select an Account from the drop-down menu.
2. Click on the down-arrow next to Select an Activity to select whether you wish to work in the Transaction Review or Account Reconciliation.

You have several options when you select the drop-down menu at Select a Period.  The default view is Current period.  The system considers the current period to be everything that has been entered since, or was outstanding as of the last reconciliation.

You can also select to view a date range or a previous reconciliation.

NOTE: If you have never reconciled the account you will also have an option to select Opening Balance Mode.  That is where you will enter the starting transactions for each account. If your accounts have opening balances, they must be entered before you make entries in the account.

Setting up Register Accounts

To use the Account Register, you must first set up register accounts.  Register accounts are set up in the Reference library.

There are 3 types of register accounts.  They are:

• Bank Accounts- a bank account is any account for which you receive a statement from a financial institution.
• Cash Boxes- a cash box can be different types of accounts such as petty cash or a cash drawer.  Most importantly, you will set up a cash box type account as a holding area for un-deposited cash receipts.
• Credit Cards- Credit card accounts can be used to pay vendors as well as record credit card purchases. They can be paid and reconciled from the Account Register.

When setting up register accounts be sure to do the following:

• Mark the correct bank account as the default checking account,
• Mark the correct cash box account as the default receipt account (cash receipts are posted to a cash box until reconciled for deposit), and
• Select the correct General Ledger account number for the account you are creating.

Creating a Cash Box Account

Cash Box accounts represent cash that you keep on site at your place of business. These may be a cash register, a bank bag in which you place payments received from customers that need to be taken to the bank, or a petty cash drawer.

When you create Cash Box accounts in Successware, one of your accounts must be marked as the Default Receipt account. Payments from customers recorded in the system will automatically be placed in this cash box account where they can be reconciled and deposited into a bank account.

To Create a Cash Box Account

1. Navigate to the Account Register section of Successware.
2. Next to "Select an Account", click the Edit option.                                           
3. In the top right corner, click the + Add Item button.                                                                         
4. Enter a Register Account Number. You can enter a number for the Cash Box account or use a descriptive code such as "BANKBAG."                                                                                 
5. Enter a description of the account such as "Cash Register" or "Undeposited Funds."
6. Choose the Cash Box option in the Account Type portion of the window.
7. Choose the General Ledger Account that you wish to associate with this Cash Box account.
8. Choose a SubAccount if necessary.
9. If this is the account you want to use to hold customer payments, check the Default Receipt Account box.
10. If you want this to be the default account used for payments received from over the counter sales, check the Default Counter Sale Account box.
11. If you are using Counter Sales, choose the default Sale Department for those Counter Sales.
12. If you are using Counter Sales and maintaining Inventory, select the Warehouse from which you would like to requisition items sold over the counter.
13. Choose the Tax Code to be used when processing Counter Sales.
14. Click Save to save the account.

Creating a Bank Account

Bank Accounts that you set up in the Account Register represent any cash accounts to which you make deposits and withdrawals and receive a statement, usually monthly. Bank Accounts can be set up to represent checking accounts, savings accounts and even credit card accounts.

1. Navigate to the Account Register section of Successware.
2. Next to "Select an Account", click the Edit option.                                           
3. In the top right corner, click the + Add Item button.                                                                         

4. Enter a Register Account Number. You can use your actual bank account number. This will print on reconciliation and deposit reports.                                                                                       
5. Tab to the Description field and enter a description of the account such as "CitiBank Checking Account" or "Wells Fargo Savings Account".
6. Choose the Bank option in the Account Type portion of the window if it is not already selected.
7. Choose the General Ledger Account that you wish to associate with this Bank account.
8. Choose a SubAccount if necessary.
9. If this is the account you want to use as the default when writing checks, select the Default Checking Account.
10. If you are using the Payroll Module of Successware and this is the account from which you process your payroll payments select the Default Payroll Account.
11. If you will be printing checks on blank check stock, enter all information to be printed on the check, such as Bank Account No, Routing Transit Number, City/State Code along with Bank Name and Address
12. Click Save to save the account.

Credit Card Register Accounts

Successware has a feature that allows the creation and use of register accounts designed specifically for tracking transactions on a credit card account or line of credit.  This type of register account must have a liability account assigned to it, rather than an asset (cash) account.  

When you create AP invoices for purchases that were made with your credit card, you will record the credit card payment on the Invoice.

The credit card register can be used for tracking payments to both vendors and miscellaneous payees, and the register reconciliation process allows quick and easy reconciliation of your credit card statements.

Note that the Cash balance reported in the SnapShot form will not include credit card balances.

Creating a Credit Card Account

Register Account Setup has an option for Credit Card accounts.  When a new account is set up as a Credit Card account, the associated general ledger account must be selected from the Current Liabilities section of the balance sheet.  Cash Boxes and Bank Accounts require a cash G/L account.

Note: Before you begin, go to G/L Setup and make sure you have and appropriate G/L account set up for the register. The account must be in the Current Liabilities  section of the Chart of Accounts. It is recommended that you use an account in the Payables section of the balance sheet. DO NOT use the default Accounts Payable account as this will cause problems reconciling G/L to the AP Aging report.

To Create a Credit Card Register Account

1. Navigate to the Account Register section of Successware.
2. Next to "Select an Account", click the Edit option.                                           
3. In the top right corner, click the + Add Item button.                                                                         
4. Enter a Register Account number and Description.                                                                       
5. Select the Credit Card Account Type option.
6. Select the G/L Account you have created to represent the Credit Card account.

You will probably use an adjustment to set up the accounts initial balance. If you are currently using a bank account to track your credit card purchases, you should have been making adjustments that maintain a zero balance in the account. If you have not been making these adjustments and therefore maintain a credit balance on the account, you can use a transfer to move the balance from that register account instead. If you are currently using a bank account to track credit card purchases, a good time to switch over to the new credit card account would be immediately after reconciling your next credit card statement.

If you are discontinuing use of a bank account in favor of a new credit card account, you will want to be sure to deactivate the old account after transferring its balance to the new credit card account.

Entering Account Register Opening Balances and Outstanding Items

When you create accounts in the Account Register they are all created with zero balances and no outstanding transactions. Even if you have activated your General Ledger and entered opening balances for your cash accounts, the Account Register accounts you created do not "inherit" these balances from the General Ledger. The Account Register Accounts must have opening balance entries made in them. Additionally you will need to add any outstanding items that have not yet been reconciled on the account. This will allow the displayed balances that you see on you register accounts to match the actual General Ledger balance of the account.

Note: Opening Balance Entries must be made before your first reconciliation of each Register Account.

When you enter your Register Account beginning balances you will need:

For Bank Accounts –  If you are activating General Ledger, you will use the last statement prior to the activation date.  You will need the last statement balance and a list of all outstanding items (payments, deposits, and other items).

For Cash Box Accounts – You will need the balance as of the start date.  If you are activating General Ledger, you will use the balance you entered as the general ledger account’s starting balance.  For the Undeposited Receipts cash box, you will need a list of all receipts that have not been deposited as of the activation date.

To Enter Outstanding Balances for Register Accounts:

1. Navigate to the Account Register screen in Successware.
2. Use the Select an Account menu to select the account you want to adjust.
3. Use the Select a Period menu and select Opening Balance Mode.  The display should change to Current Period (OPENBALMODE). Next, click the More Options list under the Actions column, and select Edit Opening Balance Item.                                                                                     
4. Enter opening balance information following the instructions for each type of account.

• For Bank Accounts:
  • Enter the last statement ending balance.                   
  • Select Payment to enter each outstanding check or other withdrawal.
  • Select Deposit to enter each outstanding deposit.

• For Cash Boxes:
  • Enter the starting balance, if any.

Note: When you have entered all outstanding items, the Current Balance listed at the bottom of the Account Register window must match the opening General Ledger balance that you entered for the account.

If the General Ledger is NOT activated:

1. Select the Account you want to adjust.
2. Use the Deposit, Payment, Adjust and Transfer buttons at the bottom of the form to enter the opening balance transactions.

 

Register Account Permissions

Access permissions to the Account Register is based upon account type. There are separate user ability settings for each type of account – cash box accounts, bank accounts, credit card accounts – which allow a user to access and reconcile the accounts, plus there is a special ability that allows or disallows access to the account that is marked as the default payroll bank account.  Additionally, you have the ability to control, via a permission, which users have the ability to access Register Account setup.

With this flexibility, a particular user could be allowed to reconcile the default receipt cash box for deposit, but could be prevented from seeing bank account or payroll account information.

Allowing or disallowing access to Register Account Setup is granted by first navigating to the User Management screen in Successware, and selecting the Accounting options on the Setup tab of User Roles window.                              

Maintaining Accounts

Reconciling a Cash Box

You will reconcile the cash box account used for un-deposited receipts regularly.  The reconciliation will be used to create and record deposits.  To reconcile a register account, select the account and change to the Account Reconciliation view in the Account Register.

Note: Only one user at a time can reconcile accounts.

To reconcile a cash box account:

1. Count the money and run a tape on the checks and other items in the cash box.  You will need amounts for Total cash, Total checks, and Total other items (i.e. credit cards).
2. Enter the totals in the appropriate fields located in the reconciliation screen.

3. The cleared items appear on the right side of the screen.  

When the difference is $.00, click the Next button to continue.

If you wish to leave cash in the cash box (for instance, if you are reconciling petty cash) enter the amount in the Cash to leave in account field and click Finish.  When reconciling the undeposited receipts, select Finish.

The reconciled items will then be available for deposit.

Account Register Icons

There are a number of icons that will appear in the Transaction Review view of the Account Register. Some will only appear after the account has been reconciled and some only after a deposit.

Icon	Identifies
	The item that follows is an addition to the account.
	The item that follows is a subtraction from the account.
	The item that follows is an adjustment to the account.
	The item that follows has been marked cleared during reconciliation.
	The item that follows has been deposited. (Cash Box Account only)
	This icon appears in front of the line item representing the actual deposit. (Cash Box Account only)
	The icon appears in front of cleared cash items as well as cash consolidation transactions: The total amount of cash cleared and the amount to be left in cash box. (Cash Box Account only)

Entering a Deposit

You must reconcile the cash box account that you are using for un-deposited receipts prior to recording a deposit.  Reconciling the cash box creates the deposit transaction and works as your daily cash sheet to verify that transactions were posted correctly.

To enter a deposit:

1. Select the appropriate account in the Account Register.

2. Click the Deposit button at the bottom of the screen.

The system will display the Bank deposit form, which will include all cash box reconciliations that have not been deposited.

3. Enter, or select, the Date of the deposit.
4. Mark the reconciliations that you wish to deposit.
5. The top of the form will list Total cash, Total checks, and Total other. Mark the type of transactions you wish to deposit.  You can use this feature to separate funds into different accounts.
6. Verify that the Total deposit (amount) in that selection box matches the amount you actually deposited (or will deposit) and click Post.  That amount should match the deposit as reported when you receive your bank statement.

NOTE:  If you need to adjust the deposit amount to record credit card fees or other such transactions, click the More Options link under the Actions column and select "Other Adjustments" prior to posting the deposit.

Printing a Deposit Report

A Deposit Report is an itemized document that lists all checks, cash, credit card and other items that have been included in the deposit. A deposit summary can also be created at any time from the transaction review of an account.

1. Open the account to which you have made a deposit.
2. Be sure that you are in Transaction Review.
3. Click on the deposit for which you want to create a report.
4. Select the More Options under the Actions column, and click Preview Deposit. This will open the Deposit Summary.

Reconciling a Bank Account

You will reconcile bank accounts when you receive a statement from your financial institution. This reconciliation can be done manually or by using a transaction file downloaded from your bank.

Note: Only one user at a time can reconcile accounts.

To Reconcile a Bank Account Manually:

1. In the Account Register, select the bank account, and choose Account Reconciliation from the "Select an Activity" drop down.                                                                                     
2. Enter the statement date and ending statement balance in the appropriate fields in the top left section of the Account Register.
3. Enter adjustments for any service charges or other items that appear on the statement.
4. Mark the items that appear on the statement as cleared. 
5. When the difference is $.00, click Finish.  The system will ask if you wish to print the reconciliation report.
6. Print the check register report for uncleared transactions to reconcile to the General Ledger account.

Using a Transaction File to Reconcile:

Most banks will offer instructions on their website on how to download a transaction file. You should only download transactions for the same date range as the statement.

Successware supports the following types of files:

• Open Financial Exchange (*.OFX)

• Quicken using Web Connect (*.QFX)

• Quicken Online Bank File (*.QBO)

• Quicken Interchange Format (*.QIF)

1. From the Account Register, use the Select an Account drop-down to select the bank account.

2. Use the Select an Activity drop-down to select Account Reconciliation.

3. Click the Reconcile from Bank File button.

2. Select the file location. Successware will attempt to match the transactions.

In order for items to be matched, they must meet these criteria:

• Checks - the check number and amount must be the same.

• Deposits - the amount and date must be the same.

• Other transactions - the amount and date must be the same.

When the matching is complete Successware will either inform you that all items were matched or that some items could not be matched. If there are unmatched transactions, you can print an exception report. Items can fail to match for a few reasons.

• An amount may match but the date does not. In this instance, verify that the two items are actually the same and mark the item as cleared manually in Successware.

• A transaction is not listed in Successware. If the transaction was not recorded in Successware, you will need to make the appropriate entry before proceeding.

• If you downloaded transactions from outside your statement dates, you can ignore these transactions.

Making Payments Using Your Credit Card Account

Credit card register accounts can be used when making either vendor or miscellaneous payments.

Credit card payments can be applied from the Payables manager using the Payment or Pay Bills options as you would with most outstanding vendor balances, but more likely you will apply the credit card payment at the time of posting the AP invoice.

You can also process miscellaneous payments from the Account Register that will be applied against the Credit Card account.

To Pay an AP Invoice Using a Credit Card Account

1. Navigate to the Payables Manager screen in Successware. Complete the Account Payable invoice as you normally would.
2. After adding all items to the invoice, select the Apply Payments button at the bottom of the invoice.                                                                                                                                             
3. Select the Credit Card account you wish to charge from the Register Acct drop down list. This will automatically select the Credit Card option in the Pay By row of the Payment.
4. The Amount field will automatically fill in the amount of the payment based upon the total of the Invoice.
5. Enter a reference in the Reference (You may choose to enter the credit authorization number or the transaction date.)                                                                                                   
6. Select Save.
7. Post the AP Invoice.

The Invoice will be marked as paid in full and the Credit Card account will display the transaction in the Account Register.

To Make a Miscellaneous Payment Using a Credit Card Account

1. Open the Account Register.
2. Use the Select an Account drop down list to select the Credit Card from which you want to make a miscellaneous payment.
3. Click the Payment button at the bottom of the Account Register.
4. Use the Description field of the Make Payment form to add a description of the transaction. This will display in the transaction view of the credit card account.                                                 
5. Complete the Pay To, Reference, Date and Amount fields of the Make Payment.
6. Click the Add Item Detail button to add an adjustment code (or codes) for the payment. 
7. Post the Payment

The Credit Card account will display the transaction in the Account Register.

Making Payments to Your Credit Card Account or Another Register Account

Payments can be made to your credit card account through the payment option in the Account Register screen. There is no need to create an AP invoice for the Credit Card bill. When making payments to a credit card account you can make the payment as a check or a direct debit payment to the credit card. Additionally, you can make a payment to a credit card from another credit card account.

This same form can be used to record a transfer of funds between to Register accounts.

Note: If you are making an electronic funds transfer to pay a Credit card account, use the Transfer form.

To Make a Payment to your Credit Card Account:

1. From the Select an Account drop down list in the Account Register, open the account from which you are making the payment. Click the Payment button at the bottom of the screen.         
2. Select Register Acct for the type of payment being made.  When this selection is made a To Reg # option is displayed that allows you to choose the register account to which you want to apply the payment.                                                                                                                      `
3. In the To Reg # drop down select the register account to which you are applying a payment. The balance on the account will be displayed next to the account name.
4. Enter the payment information including the payment date as well as the amount. Additionally you will want to add a description of the transaction in the Description This will display with the payment in the Register Account.
5. Print the check and post the payment as normal.  An entry is made showing the payment to the credit card account, in addition to the entry decreasing your bank account (or increasing the balance on another credit card account if you are paying one credit card with another).

 

Credit Card Account Reconciliation

The reconciliation of your Credit Card account will follow the same procedures as reconciling a bank account. You will reconcile the account using the statement that you receive from your Credit Card company and clear it against listed transactions in the Credit Card account.

Note: Only one user at a time can reconcile accounts.

To reconcile a Credit Card account:

1. In the Account Register screen, select the Credit Card account, and select Account Reconciliation under the Select an Activity drop-down.                                                                             
2. Enter the statement date and ending statement balance in the appropriate fields in the top left section of the Account Register.
3. The Statement Ending Balance for a Credit Card Account MUST be entered as a negative value.
4. Enter the Statement Due Date and the Minimum Amount Due in the appropriate fields. These fields will be used when paying the credit card account through Accounts Payables.
5. Enter adjustments for any service charges, interest or other items that appear on the statement.
6. Mark the items that appear on the statement as cleared. 
7. Click Finish when you are done.

Payments

Click the Payment button in the Account Register to print and/or record:

• Miscellaneous payments, and/or
• Vendor payments.
• Credit Card or Payments to another register account.

Miscellaneous Payments

Use Miscellaneous to record payments that are not associated with Accounts Payable.  Since miscellaneous payments will not affect Accounts Payable you will be required to select a distribution code or General Ledger account number before posting.

1. From the Account Register screen, select the account from which you want to make the payment.
2. Select the Payment button.
3. Be sure that Miscellaneous is selected.
4. Fill in the available fields in the check.
   • Description- check memo
   • Pay to- enter the name. The More Options link will allow you to search by address.
   • Check # 
   • Date
   • Amount- enter the amount of the check.

5. Click the Add Item Detail button to add an adjustment code.
6. Use the Adjust code column to allocate the check to the General Ledger.
7. To select a General Ledger account number, rather than an adjustment code, select the code Misc.  Then you will select the appropriate account from the drop-down list.
8. Click Post.

Vendor Payments

To process single vendor payments:

1. From the Account Register screen, select the account from which you want to make the payment.
2. Select the Payment button.
3. Be sure that Vendor payment is selected.
4. Enter or accept the date.
5. Select the invoices to be paid in order to calculate the check amount.

Remittance Reports

There may be situations when you are paying a vendor for so many individual invoices, that the list of remittances will not fit in the remittance area of the check stub. Successware allows you to print a separate remittance report in this circumstance so that you do not waste pre-printed check forms.

Printing a Remittance Report

1. From the Main Menu, select Accounting, and click Account Register.
2. Select the ellipsis next to a line item and click Remittance Report.
   
3. From the Preview page, you can save or print the Remittance Report.
   

Adjustments

You will enter adjustments to cash accounts through the Account Register.  Adjustments will be used for such items as bank fees, credit card fees and interest earned.

When entering adjustments you will use adjustment codes to determine where the transaction will post in the General Ledger.

To enter an Adjustment:

1. Select the appropriate account in the Account Register.
2. Click the Adjustments button.

3. Complete the fields.
   • Enter the date you wish to post the transaction to the General Ledger.
   • Select whether the adjustment should increase or decrease the account’s balance.
   • Enter the amount of the adjustment.
   • If you wish to assign a reference ID to the item, enter the ID you wish to use.
   • Use the drop-down menu to select the Adjust code you wish to use for the transaction. The system will automatically credit or debit the appropriate cash account. The adjust code will determine what account number the system will offset that with.
   • Enter or select the appropriate department for the transaction.
   • Enter any comments you may have regarding the transaction.

4. When all information has been entered, click Post.

Transfers

Use the transfer option to record funds transferred from one account to another.  Recording transfers in the Account Register will update both register accounts as well as make the correct General Ledger entries. The Transfer form can also be used to record electronic funds transfers to a credit card account.

If you want to transfer money from one account to another using a check, you can use the Payment form through the Account Register.

To record a Funds Transfer:

1. Select one of the affected accounts in the Account Register.
2. Click the Transfer button.
3. Complete the fields:
   • Enter the account from which you wish to withdraw funds, or select the account from the drop-down list.
   • Enter the account you wish to move the funds to, or select the account from the drop-down list.
   • Enter or select the date you wish the transfer to post to the account register and general ledger.
   • Enter the amount you are transferring.
   • If you wish to assign a reference ID to the item, enter the ID you wish to use.

4. When all information has been entered, click Post.

Voiding Transactions

There are two void features in the Account Register.

They are:

• Void Selected Transaction- to void one transaction
• Void Check Number(s)- to void a check number or range of check numbers

Void Selected Transaction

Use the Void Selected Transaction feature to negate items entered in error.

To void a transaction, click the More Options under the Action column and click the Void Transaction option. Then confirm the action.

Alternately, click the More Options at the bottom of the page to access the Void Check Number(s) link.

• You cannot void a transaction that is in a reconciled period or a closed fiscal period.
• Payments that were entered using the Apply Pmts feature on an Accounts Payable invoice must be voided by reversing the invoice in Accounts Payable.
• When you void a deposit, the reconciled bank deposit is available for re-deposit.

You can also use the Void Check Number(s) feature to un-void check numbers that were previously voided.  Actual checks that were voided cannot be un-voided.

When you select the Unvoid checks option, you will select whether you wish to accomplish one of the following:

• Only un-void if all numbers in range can be un-voided, or
• Skip any numbers that cannot be un-voided.

Register and Item Review

Item and Transaction Review

Successware offers you the ability to review any item in the Account Register from the point of view of information about the line item itself, as well as a review of where the item posted to the General Ledger.

Register Item Review

You may view Register Item detail or change the Memo entry for a Register Item in the Register Item Review form, which is accessed through the Account Register form.  Access the Register Item Review form by selecting the More Options link under the Actions column, and clicking on Register Item Review.

           

G/L Transaction Review

The Transaction Review form allows you to view and print the Debit and Credit activity, which has been posted to the General Ledger for the currently selected transaction.

To review the General Ledger Transactions for an item, select the More Options link under the Actions column, and click on Review GL.

Looking for a more interactive course on Account Register? Check out our Learning Management System (LMS)! Our courses are available to all Successware users. If you don't have a sign-in for our LMS, contact us at [e-mail] for a free account.

https://successwaretraining.com/myinfo/