Best practice for integrating POS systems with Receivables for Bank Reconciliation
SummaryWe are looking for previous learning's and best practices when integrating POS systems with Fusion Receivables to easily reconcile the bank statements.
Bank reconciliation is a cumbersome process for any entity in the retail business. Multiple stores across multiple locations with varying payment methods are to be reconciled with the bank statements. It would be great if learnings from previous implementations in relation to bank reconciliation could be shared when Point of sale system are integrated with Oracle Receivables.
Some challenges I can foresee are:
1) If a card is swiped 20 times for a total of USD 1,000, the amount credited to the bank account may only be USD 980 (After deducting USD 20 as charges. There is no separate line for this charge)