Cash Manager Module:

Every business needs to reconcile their bank accounts. The cash manager module is the place where transactions for cash receipts from AR, cash disbursements from AP, and GL journal transactions which hit the cash account are collected. These basic source documents allow easy reconciliation of your bank statements. Daily cash balances are recorded in this module for each bank account. If your want you can also import cleared checks via an upload capability of this module.

The hardest two aspects of this module are, in my opinion, getting started and watching the dates from the various source modules. Getting started is basically entering all outstanding transactions for a reconciled bank account and using a transaction type which will not update the General Ledger. Remember all outstanding items on a reconciled bank statement were previously processed through your Solomon accounting system.

The second big challenge with this module is transaction dates. Because cash manager seeks to track daily cash balances, it needs to record events at a finer level than period to post. Normally in Solomon we do not need to worry about the date showing up in a transaction field, just the values showing up in the period to post field.

The date field circled above is the critical date field used by the cash manager. The best practice we can recommend is that any one who is doing data entry in the GL, AP, or AR modules, take advantage of setting the business date to reflect an appropriate date which matches the period to post. This way, the transaction date or date field will always default to this business date. The user can override the business date in the date entry forms if they desire. Remember you only need to type MMDD and the YY values will default from the current year.

To set the business date these are the simple steps:

Click on the menu choice File:

From the drop down menu, select business date from the calendar object.

Getting your dates correct on all transactions will make using the Cash Manager module a real breeze.

As a side note, Solomon has re written this module several times; with the most recent rewrite occurring two years ago. Prior to the rewrite, we had many problems with the Cash Manager module. Today, we use the module at Systematic Solutions and routinely recommend it to all of our customers. If you have unlocking keys for this module and are not using it, I strongly recommend that you get some training and start using it today!! It is a great module.