R365 Training | Restaurant365 Customer Center

Bank Reconciliation

A Bank Reconciliation is a period end (or month end) procedure used to ‘true-up’ the records in your accounting system to the actual activity in your bank account (as reported by your bank.) Step 1: Make sure to have a copy of your bank statement or online statement ready. Step 2: Begin a new reconciliation Step 3: Match the transactions in Restaurant365 with the ones one your statement until the indicated difference is 0 Step 4: Make sure all the voided transactions are cleared from your reconciliation. Step 5: Approve and print the reconciliation Step 1: Before beginning your reconciliation, … Continued

Using the Bank Activity Screen

Overview The purpose of the Bank Activity screen to make it simple to match your Bank Statement to Transactions that have already been entered in to R365. Bank Activity also allows easy creation of new Deposits and Withdrawals based on data from your Bank. Using the Bank Activity feature will make the Bank Reconciliation process significantly faster. Each transaction that is ‘Matched’ on Bank Activity will be checked off as ‘Reconciled’ on your Bank Rec. Once your Bank Accounts are setup (click here to learn more about setting up Bank Accounts), then the Bank Activity process consists of 3 steps: Download … Continued

Beginning Balance Difference – Unassigned Vendor or Customer

Conditions in which UNASSIGNED VENDOR appears on AP Aging Report The UNASSIGNED VENDOR is a System Generated Vendor that appears on the AP Aging Report when the following conditions occur: 1. A difference exists between the AP Beginning Balance (the opening balance for the Accounts Payable GL Account) and the sum of all imported Open AP Invoices Beginning Balance transactions (AP Invoice – Beginning Balance transactions that were imported at cut-over). In addition to appearing on the AP Aging report, the ‘System Setup’ tab will be present in the ‘To Do Checklist’ notifying the User that the AP Beginning Balance … Continued

How do I print checks?

These are the options for printing a check: 1. Pay Bill: Enter Invoice and click Pay Bill at top of screen and then click Create Checks on screen that opens up – If you want to enter and invoice and pay it at the same time. 2.Check Run screen: Enter invoices separately and then do New Check Run when you’re ready to pay them all (most commonly used for weekly check runs). 3. Manual Payment: If you want to cut a check for a vendor but don’t have the invoice yet, you can do a manual payment. and click Print … Continued

Vendor Record

The Vendor Record is where the Vendor specific information for each Vendor resides in the system. Once you have opened a Vendor Record, the General Tab of the record will be displayed. In addition to the information found on the General tab, Vendor Additional Info, Vendor related Open Transactions, Vendor related All Transactions, Vendor related Contacts, and Vendor Locations are available to users. To add a new Vendor, hover over the Vendor tab in the top ribbon, and click New Vendor. This will open up a new tab with the General tab selected General The General tab is where the Vendor Name, Number and Contact Information … Continued

Voiding a Transaction

Definition: Voiding a transaction creates a second transaction in the system that has the exact opposite effect as the original transaction and is automatically applied to the original transaction – thus nullifying completely the original transaction but leaves the transaction in the system for future reference. Typically, voiding is used when you want to ‘Delete’ a transaction on a different day than when it was originally created. This can happen when financials or aging reports have been shared with outside parties and subsequent changes need to be made to your records without changing the data as it was sent out. … Continued

Check Signatures

The system allows the following options around how your company can handle signatures on checks: Click here for more information on how to Create a Check Signature 1.) Print Check – a standard signature line is printed on the check to be signed manually 2.) Print Check with Signature – a signature is printed on the standard signature line (the signature is uploaded on the Bank Account Record) 3.) Print Check with Signature: Require 2nd Signature – a 2nd signature line is printed above the standard signature line to be signed manually (based on a dollar threshold set on the Bank … Continued

1099 Reports and Forms

1099 Overview 1099 amounts can be tracked in Restaurant365, so that at year end the user can run a report to review those amounts for each vendor, make updates and then print the actual 1099 forms out of R365 (must purchase blank 1099 forms prior to printing). Details The vendor record has a 1099 Box field and invoices also have 1099 Box and 1099 Amount fields. The 1099 report is generated not from the 1099 Box on the vendor but the 1099 Box on each invoice. The report is calculated by summing the 1099 Amount on each invoice that was … Continued

Recording American Express AMEX Charges

Step 1: Record your AMEX Charges Option 1: To record an individual invoice received for a specific vendor that you put on your AMEX card Create an AP Invoice for the vendor for the amount of the invoice. Next, Use the ‘Pay Bill’ Function to create an AP Payment. Click on ‘Pay Bill’ in the top Ribbon. A new window will open. Select the appropriate ‘Payment Date’ and click on ‘OK’ A new window will open. Select your AMEX account as the ‘Bank Account’ and click on ‘OK’ A new window will open. Since we we are not actually going … Continued

Paying Your Credit Card Bill

If you have a Credit Card Bank GL Account setup to pay expenses you will need to record the payments to the appropriate accounts within Restaurant365 to allow for ease of matching during your ‘Bank Activity/Bank Reconciliation’ process. There are two options in Restaurant365 to accomplish this. Option 1 – Credit Card paid with Auto Pay. If your Credit Card bill is paid with Auto Pay you will need to record a ‘Bank Transfer’ (Banking>>Transfer). A new Window will open titled ‘Bank Transfer’. The ‘Number’ field will be auto populated, ‘Transfer From’ is the Bank Account used to pay … Continued

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