V2 PLUS DEPOSIT RECONCILIATION - FEB 2016

V2 PLUS DEPOSIT RECONCILIATION - FEB 2016

RECONCILING V2 ACCOUNT


TO ADD VIDEO - MATT NOVEMBER 2015 


Login to Xero (JJ Auto Parts file) --> Dashboard --> V2 Plus Deposit


COMPARE BALANCES BETWEEN BANK STATEMENT AND XERO

  • Download V2 Statement from ANZ online account or request from AP Manager

  • Pull out Xero bank statement report with periods the same with bank statement from ANZ online account

  • Since V2 transactions are not being fed to Xero automatically, import a CSV statement into Xero with the transactions from the bank statement that are NOT in Xero

  • After checking that all transactions on the bank statement are in Xero, check the closing balance and make sure that they are 100% equal

RECONCILIATION PROCESS

EBAY/PAYPAL FEES ARE GST FREE

DEPOSITS FROM PAYPAL AUSTRALIA
  • Open up S11 Report - Completed eBay Sales tab

  • Find the amount that was transferred - this should be highlighted gray ,note the paypal fees amount 



  • Click Find & Match --> Select sales transaction for the month with enough balance

  • Tick the sales transaction --> Click Split --> 
  • Enter the amount from S11 Report that was transferred PLUS the Paypal fees for that same period 
  • - Total Paid PayPal (column G) --> Click Split
      


  • Go to Adjustments --> Bank Fees --> Enter PayPal charges to be able to get the actual amount for reconciliation --> Reconcile


RECONCILIATION PROCESS WITH EBAY CHARGES



Go to the ACCOUNTS TRANSACTIONS TAB - NEW TRANSACTION - NEW SPEND MONEY - then enter details like below basing on the amount from S11 sheet



Proceed with FIND & MATCH steps as per normal but do this as Step 1.

Make sure SHOW SPENT ITEMS is ticked and SEARCH BY amount of SPEND MONEY you created.  Tick on the amount




Complete reconciliation following first few steps of this document





Last update of text procedure - 16 September 2015