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New Statement Centred Bank Reconcilation process does not require an opening balance for the bank account. See Bank Reconciliation - Statement centric - uploaded and remembered bank statement lines |
An opening balance is simply a journal - one side is the current bank (or credit account) balance - the other side is normally formation assets or an account chosen by your accountant
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OLD Bank Reconciliation Format
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The new format help is here Bank Reconciliation - Statement centric - uploaded and remembered bank statement lines |
The POS then passes the amount to be paid to the Tyro software which passes it to the Tyro Cloud which puts it onto the device (so internet connection is required)
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Clearing CC Batches in OLD Bank Statement
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for new capabilibites see Bank Reconciliation - Statement centric - uploaded and remembered bank statement lines |
Although the payments are grouped together - we have found that the credit card gateways frequently send a different $ amount to what we would expect based on the payments sent to them.
- Reasons for this include - fees they may take out, charges they may add, reversals from failures of payment and other reasons.
- So - when you look at the bank reconciliation we have a list of the expected total from the Credit Card Gateway (the batch total) that you can see.
- If the amount they put into your bank is the same as we expected - simply right click and "clear all in batch" on the batch - and it will tick all transactions as included in the statement.
If the amount they deposited is not the same - you will have to go through the statement they provided and tick off individual transactions on the bank statement so you know which transactions have cleared.
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