Cash Management FAQs

Cash Management Frequently Asked Questions

General FAQs

How often should I match the transactions from my bank to the transactions in Profit Center?

• Transaction matching should become part of your daily workflow to ensure an accurate and timely Accounts Payable submission on your submit day.

• All transactions need to be matched successfully prior to submitting the weekly batch of Accounts Payable to ensure all expenses are captured in the correct period.

If I want to add an account or credit card to Cash Management are there any steps I need to take other than connecting the account?

• Yes. The setup steps are based on the type of account and the activity within the account. Please send a support request to your RASI Accountant and they will work with you to ensure proper setup.

When will the transactions that I match post to the financial statements?

• All Accounts Payable transactions will post in the week that they are submitted to RASI.

• If you create a journal entry from the Cash Management feature, it will post to the day that the transaction is entered into RASI.

What happens to additional transactions that need to be added after the period end submit is complete?

• If you discover transactions that have cleared the bank but have not been entered into RASI after the Accounts Payable for the week has been submitted, please contact your RASI Accountant to open a new batch of Accounts Payable which will post back to the correct period.

I have an invoice that has terms on it, should I wait to enter the invoice until the transaction clears the bank?

• No, the invoice will get entered into the week that the expense occurs. That invoice will remain in the Profit Center Transactions side within Cash Management until the transaction clears the bank. Once it clears and the transaction shows on the External Transaction side, it will get matched to the Profit Center side invoice.

How do I void AP transactions after they have been matched?

• This will depend based on the situation and reason for the voided invoice. Please send a support request to your RASI Accountant with the details inclusive of the reason for the void and they will work with you to ensure the correct steps are followed.

If I set a rule for daily deposits to match within a specific percentage to processing fees, what would happen if a refund occurred in that time frame?

• If the refund amount is minimal and you are still within the specific percentage that was set it will automatically match off. If the refund needs to be reclassed, please send a support request to your RASI Accountant and they will complete the journal entry to move the expense.
• If the amount is enough to push it past the specified threshold, the transaction will show as an unmatched transaction. You can then select the transaction on both the external and RASI side and GL distribute out the amount that should be allocated to processing fees and the amount that should be allocated to bad debt for the value of the refund.

In the case the direct deposit is returned, how would I match the transactions in Cash Management?

• Respond to the Support Request to your RASI Accountant with the new check number you will be generating for the employee and your accountant will do a journal entry to void the original check and add the new one.
• The return will appear as a fuzzy match against the voided transaction on the RASI side and
  the new check will automatically match.

If I only have checks for my operating account but need to process a net pay which is associated with my payroll account, how will I match that off?

• You are able to transfer Profit Center transactions across accounts to match off the check to the bank activity.

How do I match off transfers between bank accounts?

• There are two ways to transfer in Cash Management:  Cash Transfer and Transfer to Other GL
• Cash Transfers allow you to track and match money that is moving from one account to another account.
  • To complete a cash transfer:
    • Select the value that you need to transfer
    • Select the Cash Transfer option under the "Actions" button
    • Select the account that you need to transfer the funds to
    • Select the transaction in the account you are transferring to in order to match the transaction
      • NOTE:  You cannot make a transfer if there is not a corresponding transaction in the account you are transferring the funds to as there is no way to match the transaction
• Transfer to Other GL allows you to move the transaction from one account type to another.  The most common instance of this will be a net pay check that was entered through Back Office and posted to the Payroll Account, but the check was actually written and cleared from the checking account.  Transfer to other GL will move it out of the Payroll Account (GL1120) and into the Checking Account (GL1100) to match the transaction.
  • To complete a GL Transfer:
    • Select the Profit Center transaction from the account where the transaction is currently posted
    • Select the Transfer to Other GL option under the "Actions" button
    • Select the GL account that you need to post the Profit Center transaction to
    • Once moved, go to the transaction in the other GL account to match the transaction to the banking activity

How do I view the Cash Accountability and Bank Reconciliation Report?

• The Bank Account Reconciliation report is found in the Financial Tab of the Financial Reports under the Cash Mgt/Reconciliation report options. Click here for further instructions on How to Understand the Bank Account Reconciliation Report.

When will deposits submitted through the sales transmittal show in Cash Management?

• The data sent via the sales transmittal including merchant deposits, cash deposits, third-party deposits, and miscellaneous deposits will appear in Cash Management after the weekly submittal has been sent in and processed by RASI. If there are any deposit discrepancies between what is entered into the sales transmittal and what clears the bank it will debit or credit the expense account in the next week.

When hitting one-to-many, I get an error message, what causes that?

• One-to-many doesn't work if there are too many unmatched transactions as there will be too many variables. All automatches and fuzzy matches should be saved prior to using the one-to-many match option.

Bank Accounts Connected in Cash Management

How often do the bank transactions pull from the bank into Cash Management?

• The transactions will pull from the bank daily. You can view what time the last sync occurred from the Cash Management home screen.

What would cause my account to disconnect in Cash Management?

• If you were to change your password at the bank, it would disconnect the connection in RASI Cash Management. If any changes are made to the username or password used to connect the account, please go into Cash Management and re-establish the connection.

If the account disconnects in Cash Management, how do I re-establish the connection?

• The original username and password used to establish the connection will be the only one who is eligible to reconnect the account
• Go to Cash Management and click on 'Setup'
• Click on the three dots on the right of the bank account that needs to be reconnected and click on 'Update Credentials'
• Once a connection is complete, refresh the Cash Management page to ensure that the connection shows as successful.
• If the link is red, send a Support Ticket to let your RASI team know that there is an issue with the account connection.
• NOTE: Please do not select “Create Connection” unless you are setting up a new connection to a new bank. All reconnections need to be completed as listed above.

I received an error message when attempting to reconnect that states “the account has been locked out”, how should I proceed?

• This error will occur when you have a lock-out error at the bank due to too many password attempts. First, resolve the issue at the bank. Once you can successfully log into the bank, attempt to reconnect the bank in Cash Management.

File Upload

How often do I need to upload my bank transactions into Cash Management?

• We recommend uploading your transactions on a weekly basis, but at the very least every period to reconcile your account.