Credit Card Reconciliation Update

Use the Credit Card Reconciliation Update screen to update statements for specified credit card accounts.

  • If the Force G/L balance before next reconciliation check box on the Cash Management Installation screen is selected, Spectrum will not perform the update if the 'calculated' General Ledger amount in the reconciliation screen does not balance with the actual ending G/L account balance.

  • If the Track sub-account card detail check box on the Account Code File Maintenance screen is selected, Spectrum confirms that each credit card associated with the credit card account is balanced prior to completing this update.

Spectrum only updates statements that are completely reconciled; partial reconciliations are not updated.

Once credit card reconciliation is complete, the information is updated to Cash Management history files and sets the beginning balance for the next statement.

Note: During this update, Spectrum automatically deselects any accounts that are not credit card accounts. In other words, all bank accounts are excluded from this update.