Question

Can We Make Epicor Post AR Bank Deposits In Summary

  • 2 February 2024
  • 8 replies
  • 55 views
M
Userlevel 2

2022.1 Epicor Kinetic with Classic screens, multi-company, multi-plant.

Our head of Finance for USA is asking about how Epicor processes cash receipt groups.   When we make a bank deposit, she wants the posting to be a single sum of money, to make it easier to process the bank statement.  But instead it’s getting posted as all the individual payments we’re processing.  I’ve found a couple of posts here on the EUG with the same complaint, many years ago, but no one had a solution to make the system post the sum instead of the individual components.

Please share any solutions or workarounds you’ve found for dealing with this.

Thanks much

...Monty.

8 replies

S

Hi Monty

You can use payment method “Additional AR” properties to get statement grouping (used often for AP) so that you create a batch total on the bank statement. You might well want this as a new payment method in case you sometimes do not want to batch receipts. I hope this helps

best regards Steve

M
Userlevel 2

@steve Thanks much Steve!  Does it change the posting?  She is specifically asking about the posting being made in a sum instead of the individual invoices being paid in the payment entry going into the bank.

T
Userlevel 1

Hi Monty,

Did you try to use the “Automated Recognition AR” in Bank Reconciliation. This allow you to input or import 1 line from a Bank Statement and automatically create the cash receipt and apply it to the invoices. 

In this case, they is only one Manual Input and no manual input if you import the Bank Statement.

This is the way we are use to do it here in Europe as most of the Cash Receipt are only appearing on our Bank Statement, so it can be different then the process you use in your side.

Thierry Cools

Thierry Cools . Managing Partner Platinum Europe SA (Platinum Services Europe) Rixensart (Genval) BE www.platinum-services-europe.eu
T
Userlevel 1

Also did you check what the options on the Payment Method you use for the Cash Receipt.

If you use “Summarize” Per Customer, I believe this will answer your question. 

 

 

Thierry Cools . Managing Partner Platinum Europe SA (Platinum Services Europe) Rixensart (Genval) BE www.platinum-services-europe.eu
T
Userlevel 1

I just did a quick test in our test environment and  it is working fine. One cash receipt for 3 invoices in AR using that “AR Payment Method” with option : “Summarise per Customer” checked only bring one line in my Bank Statement when  dod the reconciliation. 

Let me know if it work on your side too.

Thierry

Thierry Cools . Managing Partner Platinum Europe SA (Platinum Services Europe) Rixensart (Genval) BE www.platinum-services-europe.eu
M
Userlevel 2

@thierry.cools Thanks so much!  I’ll get this information to our USA Controller, and we’ll do those tests as well.

T
Userlevel 1

No problem ! See you in Insight !

 

Thierry

Thierry Cools . Managing Partner Platinum Europe SA (Platinum Services Europe) Rixensart (Genval) BE www.platinum-services-europe.eu
M
Userlevel 2

She has clarified that the issue is about the deposit transaction posting rather than the bank statement reconciliation, so we’re trying the method of adding Payment Method AR Check into the affected company; we have a theory that will solve it.  Thanks for the replies!

Best,

..Monty.

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