Reconciliations are needed to keep your financial information in synchronization with your accounting transactions. Whether you have an accounting software such as QuickBooks or Xero, or if you manually keep your financial records, you need to reconcile your financial transactions. Reconciliations verify your physical cash, checks, credit cards, or other financial transactions with data processed and posted within CoreBridge. Access to financial data within CoreBridge is determined by Employee Roles and/or Individual Employee Access. The Reconciliation & Sync screen will list all reconciliation periods that have been synced and those periods that have not been synced ready for preview.
Table of Contents
Preview to Reconcile
Navigate to Accounting / Reconciliation & Sync.
1. Click Preview to open the reconciliation preview. This shows all unreconciled financial transactions posted for the selected location.
Note: It is recommended to reconcile at the end of each day.
2. Go to the Payment Summary tab.
3. Cash – Enter and verify cash amounts:
a. Starting Cash Balance – The ending cash balance from the last reconciliation.
b. Cash In – All cash added to the cash drawer since the last reconciliation (e.g., ATM replenishment), not including customer cash payments.
c. Cash Received Total – Total payments received with cash as the payment method since the last reconciliation. Click the link for details; click Done after reviewing.
d. Cash Paid Out – Cash taken out of the drawer (e.g., petty cash, supplies), not change given to a customer.
e. Cash Drawer Balance – The sum of cash recorded in CoreBridge.
f. Actual Counted – Enter the physical count of money in the cash drawer. You can use the down icon to populate this with the system-calculated amount after verifying.
g. Difference – The difference between the system-calculated amount and the physical count. This must be 0.00 to proceed. If not 0.00, recount and review transactions.
h. Cash To Deposit – The amount of cash to remove from the drawer and deposit. This becomes the Ending Cash Balance for this period and the Starting Cash Balance for the next.
4. Checks – Checks Amount is the total of check payments since the last reconciliation (click the link for details). Enter Actual Counted (total value of checks received). Difference must be 0.00 to proceed.
5. Wire Transfer (External) – Wire Transfer Amount is the total of wire transfer payments. Enter Actual Counted. Difference must be 0.00 to proceed.
6. Credit Card – Credit Card (Non-Integrated) are payments entered manually and processed outside CoreBridge. Credit Card (Integrated) are payments processed within CoreBridge via a merchant service provider (including Customer Portal payments). For each, enter the Amount (or view via the link), Actual Counted, and ensure Difference is 0.00.
7. Custom Payment Methods – For each custom method (e.g., Zelle, Venmo), enter the custom payment amount, Actual Counted, and ensure Difference is 0.00.
8. In-Store Credit, Bad Debt Total, Early Payment Credit Total, Refunded Payments, and Voided Orders – These sections show amounts for the reconciliation period. Click the links in each section to view details when available.
9. Go to the Payments and Refunds tab (or Payments & Refund) to review all system-posted transactions since the last reconciliation.
10. Go to the Financial Summary tab to review financial reports for this reconciliation period. The screen may show the date and time of the last reconciliation and the current preview period.
11. Click Reconcile when all differences are 0.00 and you are ready to complete the reconciliation.
12. To view current or previous reconciliations, navigate to Accounting / Reconciliation & Sync. The list shows reconciliation periods with ID, Location, Total Invoiced, and Reconciliation Date. Click the ID (or number) to view a report. Use the ellipsis on the right to download the report. The prefix on the reconciliation ID denotes the business location.
Reconciliation Options
Reconciliation options allow you to configure how and when reconciliations are run. Navigate to Settings and locate Reconciliation Options (or the equivalent under Accounting settings).
1. Select Reconciliation Options.
2. Locations – For each business location, you can toggle to enable or disable daily automatic closing at the end of each day. When automatic reconciliation is enabled, the Reconciliation & Sync listing screen may show an Auto Reconciliation label (hover over it for details).
Helpful Tips
Error messages may appear during reconciliation. The system will not allow you to proceed if any Difference exceeds 0.00.
1. If the difference is not 0.00, review all transactions for that payment type, recount cash or checks as needed, and correct any data entry errors.
2. Verify your account mapping with your external accounting software in Settings / Integrations (or Integrations Marketplace) under your accounting package or integration.
3. CoreBridge rounds to two decimal places to be compatible with many accounting software packages.