Accounting

Invoice Reconciliation

QuickBooks is the financial management software we use to keep track of the company financials. There should be a QB invoice every time someone pays us.

For Rentals, When a CurrentRMS Invoice is posted, it creates a matching QB invoice with the Invoice number and Customer.

All the line items are coded as "Equipment Rental" in QB - we don't keep track of the individual rented items (in QB).

If expendables we sold as part of the rental, we need to go in the QB transaction and change the line item from "Equipment Rental" to the correct expendable.

We primarily process payments via Square. The square transactions are also exported to QB. Unfortunately, the square transactions are anonymous in that they are come up as "Square Customer".

For stand-alone expendables sales, this is fine. The square line items match with QB and the stock levels are adjusted.

For rentals paid via square, we need to perform a reconciliation since the transaction will be in QB twice: Once from Current and Once from Square.

Rental Reconciliation Process

• Identify Matching CurrentRMS & Square Invoice Transaction
• Receive Payment on the CurrentRMS invoice.
• Delete the Square Invoice
• Find the "Unasigned" Square Payment transaction (associated with Square Invoice deleted) and click on it.
• Select the Deposit Link (upper left hand corner)
• Select the CurrentRMS payment and de-select the square payment. Totals for deposit should not change. Save the deposit.
• Select the Unasigned Square Payment, select it. Under More, select delete.