How to Line Up Batches With Bank Deposits
You have a batch report that shows a total of $5,000 that should be deposited into your bank account. But when you check your bank deposit, you only see $4,800. With old terminals, lining up your business’s credit card sales to your bank account deposits is a nightmare.
For most, the frustration is simply due to a lack of information. Why? Because paper batch reports fail to address why the deposit amount differs from the batch report. This could be due to processing fees, chargebacks, charges from Amex or a number of other reasons.
For others, that’s only the beginning. With a multi-department or location business, bank reconciliation is typically a full-time job for one or more employees due to the number of paper batch reports that need to be managed and matched. It’s inevitably a draining and time-intensive task.
Luckily, we’ve got something that boils this down to just a few minutes. That’s right, your prayers have been answered. Say hello to easy bank reconciliation.