End of Day Process Management

How to run the EOD report to process deposits, reversals, cost-transfer checks, and reports to reliably trace, reconcile, and backup data.

In this Financials session, our vPro Expert will discuss the basics of running the End of Day Report in Collection-Master. This includes a demonstration of how to prepare a deposit slip, demonstrations on how transactions affect the totals displayed in the End of Day screen, an overview of what cost-transfer checks are and how to manage them and how best to organize reports produced daily. Our vPro expert will demonstrate the advantages of leveraging Excel-It for saving backups of your ledger reports and end of day reports as well as how to read the information listed in the report. Our vPro expert will also cover common pitfalls that can trigger an account to indicate that it no longer reconciles, as well as key actions in the program that affect the end of day, such as the reversal of batch remittance checks and cost reversals that trigger transfer checks. The principles demonstrated in handling reconciliation issues that appear in end of day can also apply to addressing reconciliation issues that can occur during end-of-month bank account statement reconciliation. Your team will be given the opportunity to ask any questions about day-to-day workflow in running the end of day and best practices.

Your firm will be able to process deposits and their corresponding reports regularly and reliably. This service will help ensure that proper backups of reports are produced and accessible, as well as provide information and tips about the tools used to address reconciliation issues as they arise. When users improperly edit fields tied to funds in an account or other actions are taken improperly, this service can help create trackable financial entries in the program that are commonly found using end of day reports and ledger reports. This service can minimize downtime caused by investigating financial records, as well as ensure your team is fully equipped with the knowledge to troubleshoot issues as they arise. Lastly, your team will be able to ask unique and specific questions related to these processes to ensure you are using the system to best meet your needs.