Deposit Audit

 

The purpose of the Deposit Audit section of Daily Activity Entry is to reconcile the Actual Deposits Captured to the PMS Total. The figures for the PMS Total fields pull from the Payment section of Daily Activity Entry, which is entered based on the PMS Daily Closing Reports. The figures for the Actual Deposits Captured fields are entered based on the cash deposit ticket and the credit card transmission reports.  


How to complete the Deposit Audit:


  1. Select the Accounting module
  2. Navigate to Daily Activity > Daily Activity Entry 
  3. In the top left of the screen click on the Select button
  4. From the drop-down menu, select the property E/HID
  5. Select the appropriate Date (system will default to the oldest unapproved day)
  6. In the Daily Activity screen, find the Deposit Audit section
  7. The Deposit Audit section will list each deposit type the property accepts as payment (Cash & Checks, Visa, Master Card, AMEX, Discover, etc.)

 

 

 

  1. Select the first Deposit Type by clicking anywhere on the deposit type line
  2. The Deposit Audit screen will open
  3. The PMS Total field will automatically populate if the Deposit section of Daily Activity Entry has been completed
  4. Enter the total cash deposit amount found on the bank deposit ticket in the Actual Bank Deposits Captured field
  5. The Variance field automatically populates and is the difference between the PMS Total and the Actual Bank Deposits
    1. The variance field will be highlighted in red if there is a variance
    2. The manager can’t approve the day if the variance is not reconciled
  1. To reconcile the variance, the Deposit Audit Collections Detail section must be complete, and it must balance to the Variance field 
  2. To add an item to the Deposit Audit Collections Detail section, click on the + Explanation field found directly below the red variance field (the Deposit Audit Collections Details screen will open)
  3. Enter the required data and click the OK button (required data is identified by the red vertical line). 
    1. Additions are entered as positive amounts
    2. Reductions are entered as negative amounts
  1. Once the variance is reconciled, select the Save and Close button
  2. This process must be repeated for each Deposit Type listed in the Deposit Audit section

 

TIP:  When reconciling the credit card deposits, pull the figures for the Actual Credit Card Captured field from the Credit Card Transmission Report. (The name of this report will vary depending on the PMS used by the property.)