Credit Card Reconciliation - No "Reconcile" Option

Christina Moore
Christina Moore New Member
Kudos 1 Name Dropper First Anniversary Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

I need to reconcile our credit card, but I see no “reconcile” button on the credit card register. I have looked through every other menu option, in case it was somewhere non-intuitive, but there is no reconciliation option anywhere. I must be missing something - this is a basic accounting function that should not be hard to find. Thanks!

Comments

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Christina Moore
    There actually isn't a true reconcilation function for the credit cards currently. You're not missing a button to do one as there is no function / button. That being said, if you're logging the activity, and paying it off, it should match your statement/website. While you could still make changes, if all transactions are being logged ( manually or through the credit card feeds) and you're paying them and marking the box on the card's vendor invoice that you're paying your statement, all the activity should be there and you're balance should match.

    I can see there are several suggestions in the Idea Portal for this feature, so you're not alone in wanting it. I'd jump over and vote for one so the developers know all our clients would like it.

  • Christina Moore
    Christina Moore New Member
    Kudos 1 Name Dropper First Anniversary Facilitator 1

    @Kevin Brazell
    Wow, I actually can't believe there is no reconciliation option! How does this accounting system support companies that must complete these? Part of the problem I'm having is that the running balance in the GL for the credit card does not match the actual balance. It's off by a LOT (several thousand). I was hoping to review past reconciliations to see where the balance went wrong, but then I found I cannot even view a current reconciliation. How could I see the history of this without digging back to the very beginning of the credit card and going forward? As I'm sure you know, it is not easy to track the running balance on a card, especially when you are looking at a statement that only shows the statement balance at the end. Do you have any suggestions that would help me get to the bottom of the balance issue? It looks like our credit card liability account has been overstated for quite a while due to the running balance always being off. Thanks!

  • Sylvia Cook
    Sylvia Cook New Member
    Sixth Anniversary Kudos 5 Name Dropper Participant

    @Christina Moore
    Agree it is surprising that reconciling is not part of the credit card process.

    There is an Idea Bank to vote on for it #555 There are 40 votes so far.

  • LaToya Howard
    LaToya Howard New Member
    Name Dropper First Anniversary Facilitator 1

    @Christina Moore

    I just discovered when you create an invoice for your credit card company, there is an option to “Use invoice to pay credit card account" at the top when entering the invoice in BB. This will pay the specified credit card's balance and the GL liability account will be debited. I'm not sure how this will help for previous invoices since they have been posted but going forward this will help with “maintaining" your credit cards current balance. I just started working for my current company, and they have a huge current balance as well ($700K plus) and I don't this has ever been done since having a credit card account. Not sure what I need to do to resolve this…any suggestions?

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