RECONCILIATION

Good Morning,

We are new to M3 and are struggling with our bank reconciliations.  We manage 20 hotels and are still working our way through our January bank recs.  Does anyone have any tricks or lessons learned that could help us complete these? Could you share your procedures or steps you take to complete?

Any help or advice would be greatly appreciated

I feel you.  I am new to M3 as well, but our company has used them for years.  The bank reconciliations are the hardest thing so far.  From what I have seen I am not sure if this is normal or not, but some items post directly to the GL without hitting the cash management.  Some of my hotels the Cash or the CLC deposits hit the GL but not the Cash register so you have to go in manually and check to see if they cleared by printing and highlighting them and then doing a "one sided entry" into the cash register for the uncleared items to clear next time.   I am actually here to see if I can find the how to on the "one sided entry"  I can't find my notes. 

Also if you use the Adjust feature you can make quick JE, but you can't attach an image to that.

Good luck!

This might help a little bit, though it's not the whole story:

Until you're more comfortable with how it works you should try not to have anything hit your G/L cash accounts except for Cash Management entries.

A JEMN or JERC/JERV will not show up in Cash Management unless you make a corresponding entry in CM to match it (but without a G/L code). This is not actually a one-sided entry, it's just a memo item to bring CM into line with the G/L, but generally they're best avoided.

Daily Report setup is key, make sure you have your settlements identified as Cash or Credit Card and make sure the Daily Report line item description exactly matches the Enterprise Advanced Cash Management types (you can add to or edit these as much as you want). 

The one sided entry is simply posting an entry to CM as normal but then you tab down to where you would put in the GL and amount highlight the top line by clicking the far left side of the line and hitting the delete key. For example my payroll company sends an automatic GL entry that breaks out my labor into the different ledgers. But for me to reconcile to the bank I have to make the one sided lump sum on the CM. So I go into CM and do new-withdrawal, enter the date of the payroll, enter the full amount that was credited from my bank account, tab until I get to the Ledger/Description/amount lines (It is weird if you don't tab down into it, you cant delete it) click the far left of the line and hit delete. This creates the necessary entry to the CM that will balance to the GL and I can reconcile with the bank by clearing in CM.

It will give an alert when you hit save saying there is no balance to the entry, but it is just the one sided entry to balance the GL/CM and Bank.