Configure Cash Management

Transaction summary posting

Summaries are collections of the same type of transactions, grouped together for processing. Summaries can be open, in which case transactions can be added or closed.

Unlike the Accounts Payable application where you can create summaries manually and automatically, the Cash Management application offers the simplified approach of only automatic summary creation. Here, select when transactions automatically post to a summary.

• Daily summaries post a single summary to the General Ledger for each transaction day.

  Daily is recommended because it gives you the most granular reporting.

• Monthly creates a single summary at the end of each month.

  No matter what the transaction date is within that period, it is always posted as of the last day of that month. This frequency does not provide the daily granular level of reporting.

Journal for other cash receipts

Select the journal to which you wish to post customer payments.

If your company uses dual-method reporting, the dropdown displays journals that are defined as both accrual and cash based. Select a journal defined as both if you opted for dual-method reporting.

There are 2 primary ways to receive customer payments:

• To receive payments and not track them against customers and AR sales invoices, select the journal for those payments here.
• To receive payments and track them against customers and AR sales invoices, select the journal for those payments on the Configure Accounts Receivable page

Account labels

Select whether account labels are required or not (On or Off).

Account labels are a good way to restrict access to GL accounts. If an account label is not set up for a particular GL account, that account cannot be accessed. Also, account labels provide a plain-English equivalent for GL account numbers, which can be helpful for users.

If you enable account labels, you create the labels in AP and AR and use them on CM pages as follows:

• Credit card transactions - AP
• Credit card charges and other fees (finance charge/other fees) - AP
• Bank interest and charges (service charge) - AP
• Other receipts - AR
• Bank interest and charges (interest earned) - AR

If posting transaction to a future period

Decide what happens if someone tries to set a future period date as the general ledger posting date. Keep in mind that subledgers share the same posting periods as the general ledger.

• Show warning: Display a warning message, but allows the user to proceed.
• Do not allow transaction to be created: Displays a message requesting the user to select a date within the current period.
• Do nothing: (Default) The user can proceed with the transaction without any alert or action on the part of Intacct.

Allow creating, editing, and deleting foreign currency transactions

If yours is a multiple currency company, you can enable users to enter transactions in currencies other than the base currency.

For this option to be available in Cash Management, your general ledger must also be configured to support multi-currency processing.

If any entity uses a different base currency, you must also enable multiple base currencies in Multi-Entity Management.

Default exchange rate type

An exchange rate type enables your organization to process foreign currency transactions. Leave this field blank to use the Intacct Daily Rate as a default for all foreign Cash Management transactions. Or, select an exchange rate type more tailored to your business requirements.

Default undeposited funds account

Preset the account into which you record undeposited funds so that it appears as the default when you make deposits and record other receipts.

Post credit card transactions, charges, and fees to the GL after creation

This configuration option is available for companies set up for cash or cash and accrual books (multi-book) reporting.

Instead of having credit card transactions and credit card fees post to the GL after they're paid off, have them post to the GL when they're created. This option also enables applied supplier credits and advances to appear as separate line items in the General Ledger report, instead of netting out.

Before you enable this option, make sure that all credit card transactions are marked as Paid in Intacct.

For multi-book companies, make sure to select a journal for credit card transactions and charges and fees below.

Journal for credit card transactions, charges, and fees

This configuration option is available for companies set up for cash and accrual books (multi-book) reporting.

Include zero-amount GL transactions in reconciliations and reconciliation reports

Include General Ledger transactions with a zero-dollar amount for reconciliation. These transactions will also appear in reconciliation reports.

If you enable this feature and later decide to deactivate it, any zero-dollar GL transactions that you reconciled will still appear in reconciliation reports.

If your company is configured to Include zero-amount GL transactions in reconciliations and reconciliation reports, voided unconfirmed cheques and standard ACH payments appear as zero-dollar transactions in reconciliations and register reports. Learn how to reconcile voided transactions.

Enable reclassification for credit card transactions

Allows users with proper permissions to edit accounting information on both partially and fully paid credit card transactions and adjustments. Configure this option at the top level.

Learn more about reclassifying credit card transactions.

Default bank account

You can preset the bank account into which you usually make deposits and record other receipts so that it appears as the default when users record deposits and other receipts. In the case of multi-entity organizations, you can set a default payment method and bank account on an entity-by-entity basis.

Currency to use on blank cheque stock (multi-currency companies)

Top level entities can select to print blank cheque stock using one of the following:

• The currency defined on the Bank account record.

• The currency of the country defined on your Preferences page.

  For example, if you select either Canada or Mexico in the Country field on your Preferences page, blank cheques print in that country's currency (CAN or MEX).

You can override this setting at the entity level on the Configure Cash Management page.

Preprinted cheque stock is based on USD or CAD currency, depending on which type you selected to use.

Enable user entity restrictions for bank and credit card accounts

Restrict top level users on viewing reconciliation information for a bank or credit card account based on their entity location restrictions.

Enable tracking and reporting against each selected dimension

This section displays the list of standard dimensions that are enabled in your General Ledger.

Select the standard dimensions you want to use in this application for tracking and reporting.

• Projects dimension:

  You can enable a simple Projects dimension without subscribing to the Projects application. First, enable the Projects dimension in General Ledger. Then, enable the Projects dimension in Accounts Receivable and use Accounts Receivable permissions to control access to it.

  A Projects dimension limits functionality mainly to reporting.

  A Projects subscription expands your ability to do the following:

  • Add tasks to your projects
  • View a project summary
  • Generate project invoices
  • And more

  Contact your Sage Intacct account manager to enable your Projects subscription.

• Task dimension: The Task dimension is dependent on the Project dimension and a subscription to Projects. After it’s enabled, you cannot inactivate the Task dimension.
• Asset dimension: The Asset dimension is only available with a subscription to Fixed Assets Management.

Sage Intacct propagates dimensions across your application pages where you can select dimension values to apply to specific transactions.

For example, if you create a sales order, use the customer dimension to tag the transaction so that you can track and report on revenue per customer. Or, if you create a purchase order, use the supplier dimension to tag the transaction so that you can track and report on costs per supplier.