This functionality enables automatic reconciliation of the bank statement line by simply clicking the “Automatic Reconciliation” button in the Bank Statement record. You can only reconcile the bank statement if its status is Unreconciled.
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Gateway Settlement’s Reconciliation Date (date) = Bank Statement Line’s Settlement Date
Gateway Settlement’s Payout Amount = Bank Statement Line’s Amount
>>>>> Insert SS
Once a matched Gateway Settlement record is found,
The Gateway Settlement record is updated where:
Bank Statement Line = equivalent Bank Statement Line record
Bank Reconciliation Status = Reconciled
Settlement Date = Bank Statement Line’s Settlement Date
Receiving Bank Account = equivalent Bank Statement Line → Bank Statement → Bank Account
>>>>> Insert SS
All of the Gateway Transaction records linked to the Gateway Settlement record are updated where:
Bank Statement Line = equivalent Bank Statement Line record
Bank Reconciliation Status = Reconciled
Settlement Date = Bank Statement Line’s Settlement Date
Receiving Bank Account = equivalent Bank Statement Line → Bank Statement → Bank Account
>>>>> Insert SS
If the Gateway Transaction record has Gift Transaction, the Gateway Transaction’s Gift Transaction record is updated where:
Bank Statement Line = equivalent Bank Statement Line record
Bank Reconciliation Status = Reconciled
Settlement Date = Bank Statement Line’s Settlement Date
Receiving Bank Account = equivalent Bank Statement Line → Bank Statement → Bank Account
>>>>> Insert SS
If the Gateway Transaction record has Gift Refund, the Gateway Transaction’s Gift Refund record is updated where:
Bank Statement Line = equivalent Bank Statement Line record
Bank Reconciliation Status = Reconciled
Settlement Date = Bank Statement Line’s Settlement Date
Refunding Bank Account = equivalent Bank Statement Line → Bank Statement → Bank Account
>>>>> Insert SS
The Bank Statement Line record is updated where:
Reconciliation Status = Reconciled
>>>>> Insert SS
Once the reconciliation process is done a PosiPay log is created where,
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The Bank Statement record is updated where:
Status = Reconciled
Date Reconciled = date today
A PosiPay Log record is created where:
Source = Bank Reconciliation
Details = The Bank Statement + (<Bank Statement record ID>) + record has been reconciled.
Type = Information
If one or more Bank Statement Line records linked to the Bank Statement record have a Reconciliation Status that is not set to Reconciled or Excluded, the Bank Statement record will not be reconciled.
>>>>> Insert SS
Donation with Cash and Check Payment Method Combination
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The Bank Statement Line records linked to the Bank Statement record have a Reconciliation Status as Reconciled OR Excluded and a PosiPay Log is also created.
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Cash lumped together
Please remember the following: “Multiple Bank Deposit Batch records are created with only Gift Transaction records where the Payment Method is Cash. Create a Bank Statement and generate Bank Statement Line records under the Bank Statement. Ensure that the Amount field value of each Bank Statement Line matches the Total Transaction Amount field value of each Bank Deposit Batch.”
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After the reconciliation process of Bank Statement Line records, a PosiPay Log is created.
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Check Lumped together
To proceed in Bank Reconciliation make sure that multiple Bank Deposit Batch has been created where the Payment Method is Check. Create a Bank Statement and create Bank Statement Lines records under this record you’ve just created. Make sure that each Bank Statement Line’s Amount field value matches each Bank Deposit Batch’s Total Transaction Amount field value.
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When reconciling the Bank Statement Line, its record is reconciled and each record matched the Bank Deposit Batch record where:
Bank Deposit Batch’s Total Transaction Amount is equal to the Bank Statement Line’s Amount.
Once a matched Bank Deposit Batch record is found, all of the Gift Transactions and the Bank Deposit Batch records are updated. The following fields for the Gift Transaction and Bank Deposit Batch have been updated.
The Bank Statement Line is equivalent to the Bank Statement Line record.
The Bank Reconciliation Status is updated to Reconciled.
Settlement Date displays the Settlement Date of the Bank Statement Line.
Receiving Bank Account displays the Bank Account linked to the Bank Statement Line in the Bank Statement.
Gift Transaction
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Bank Deposit Batch
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The Bank Statement Line Reconciliation Status is also updated to Reconciled.
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After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details:
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If all Bank Statement Line records linked to the Bank Statement record have a Reconciliation Status of Reconciled or Excluded, the Bank Statement is updated to Reconciled, and a PosiPay Log is created.
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If one of the Bank Statement Line Reconciliation Status is not Reconciled or Excluded, the Bank Statement will not be reconciled and a PosiPay Log is created.