Cash is King
As a small business entrepreneur, cash and revenue are the driving points of your business. Ceterus now provides the Deposit Reconciliation Report in Edge to help you monitor and reconcile collections from your point of sale (POS) system compared to deposits in your bank for cash and credit card sales. This feature provides a tighter eye on your cash deposits and potential fraud or theft when the remaining balance does not match your expectations.
Skip Ahead To
- Merchant Clearing
- American Express Clearing (if applicable)
Where will I find this report in Edge?
This report is housed under Financials > Deposit Reconciliation Report in Edge Web. This will be a new tab under the Financials section to easily review all financial data in one area. This report is currently not available to view on Edge Mobile app.
What will I find on the Deposit Reconciliation Report?
There are up to three categories of deposits presented in the report (depending on whether your American Express transactions are processed separately):
Did the cash physically received at the register make it to the bank?
We recommend daily bank deposits to maximize consistency between your POS reporting and your bank deposits. Monitoring this regularly also minimizes the opportunity for theft and (by identifying issues early) the magnitude of theft.
Many customers who accept American Express use a separate merchant processor for those transactions; accordingly, Ceterus tracks these deposits separately.
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How can I configure the report to be more specific?
At the top of the report, there are two configuration options you can change to generate different reports:
How does Ceterus account for revenue?
Ceterus recognizes revenue on the date the sale is made at your cash register/point of sale system. In general, there will always be a delay of 1 to 4 business days between recognition of sale and the corresponding deposit to your bank account; either you need to bring cash deposits to the bank or you are awaiting a credit card merchant processor to deposit funds to your bank account.
How can I download this report for my records?
You may export the report by selecting the “download icon” in the upper left hand corner of the screen. The download request will generate an Excel file written to your download folder. The report itself has separate sheets for Cash, Merchant Clearing, and American Express data.