Banquets - Importing Banquets Deposits Into a CMA Liability Account

Owned by Joshua Morrison
Last updated: Sept 20, 2023 by Benjamin Hacker
2 min read

Table of Contents

Overview

This guide will show users how to create Deposits within Reserve, post a Journal Entry batch for the imported deposit, and view the Outstanding Banquets Deposits report.

Required Permissions

  • Admin Access

  • Level 1

  • Level 2

Accessing the Tool

  1. Once logged into ReServe Cloud, access the Event by selecting Events on the left hand side.

  2. While viewing the Event Calendar, double click the Event Name to open the Event page.

  3. Next, select View Financial Details.

Creating Deposit

  1. Under the Events Payments Received section, select Record Payment.

  2. Input the Deposit Amount and set Payment Type to Deposit or Security Deposit.

  3. Set the Payment Method to Check and then Save at the bottom left.

Posting the Deposit Within CMA

  1. Within CMA, navigate to the General Ledger module and click Approve Journal Entry Batches.

  2. Next, find the associated deposit transaction in the batch listing and double click to open.

  3. After previewing the Journal Entry (GJ) batch associated with this deposit, click Post Batch. This will debit the Reserve liability account, and credit the member’s AR account.

Viewing the Report

  1. Once the Journal Entry (GJ) batch is posted, navigate to Interactive Reports and run the Outstanding Banquets Deposits report. To do so, first access the Interactive Reports. Expand the Reservations list by clicking ( + ) and select the Outstanding Banquets Deposits report.

  2. Once the report has been selected, Set your date and click View Report.

  3. The deposit will be listed on the report, as the event has not been closed to apply the balance. 

Verification

Once the Event is closed in ReServe, the Event will import into CMA and the deposit will be applied towards the invoice as a payment (Deposit Invoice Payment Type) hitting the debit ledger of the payment type, and crediting the deposit liability account.

  1. Navigate to the Membership module in CMA.

  2. Open the member’s profile and navigate to the AR Activity tab where you can find the Invoice for the Event.

  3. Here deposits that have been applied to the event total will appear under Check Banquets. (Your club may show Banquets Deposit).

  4. Once closed, the Deposit will be removed from the Outstanding Banquets Deposits report, as the funds have been applied to the balance of an Event.

 

Best Practices

 

FAQs