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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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When reconciling donations with a Stripe Payout as the payment method, ensure that the Amount field value in each Bank Statement Line matches the Payment Amount field value in each Gateway Settlement, and that the Date field value in each Bank Statement Line matches the Reconciliation Date field value in each Gateway Settlement.

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When reconciling Bank Statement Line records via the Automatic Reconciliation button on the Bank Statement record, the Bank Statement Line records under the Bank Statement record will be reconciled

Each Bank Statement Line record will be matched to a Gateway Settlement record where:

  • 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,

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After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details: >>>>> Insert SS

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If all of the Bank Statement Line records linked to the Bank Statement record has have a Reconciliation Status of Reconciled OR or Excluded, the Bank Statement Status is updated to Reconciled, the Date Reconciled field is populated with the current date, and a PosiPay Log is created.

  • Bank Statement

    • Status is updated to Reconciled

    • Date Reconciled populated to current date.
      >>>>> Insert SS

    image-20240918-053610.pngImage Addedimage-20240918-053448.pngImage Added

  • PosiPay Log

    • >>>>> Insert SS

  • 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

  • image-20240918-053155.pngImage Added

Donation with Cash and Check Payment Method Combination

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  • The Bank Statement Line value is equivalent to the Bank Statement record.

  • The Bank Reconciliation Status is updated to Reconciled.

  • The Settlement Date displays the same date as the Bank Statement Line’s Settlement Date.

  • The Receiving Bank Account displays the same Bank Account linked to the Bank Statement Line in the Bank Statement.

On the Gift Transaction’s Bank Deposit Batch record, if all of the Gift Transaction records linked to the Bank Deposit Batch record have a Bank Reconciliation Status of Reconciled, the Bank Deposit Batch is updated.

  • The Bank Statement Line value is equivalent to the Bank Statement record.

  • The Bank Reconciliation Status is updated to Reconciled.

  • The Settlement Date displays the same date as the Bank Statement Line’s Settlement Date.

  • The Receiving Bank Account displays the same Bank Account linked to the Bank Statement Line in the Bank Statement.

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If the Bank Deposit Batch’s Bank Reconciliation Status is Reconciled, then the Bank Statement Line Reconciliation Status is updated to Reconciled.

>> INSERT SS

After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details:

>> INSERT SS

If all of the Bank Statement Line records linked to the Bank Statement record has a Reconciliation Status is Reconciled or Excluded, the Bank Statement is updated and a PosiPay Log is created.

>> INSERT SS “Bank Statement“

>> INSERT SS “ PosiPay Log“

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.

Direct Deposit

To proceed with Bank Reconciliation, make sure that each Bank Statement Line’s Transaction Reference field value matches each Gift Transaction’s Payment Identifier field value

  • When reconciling Bank Statement Line records via the Automatic Reconciliation button on the Bank Statement record,

    • The Bank Statement Line records under the Bank Statement record will be reconciled

    • Each Bank Statement Line records record will be matched to a Gift Transaction record where:

      • Gift Transaction’s Payment Identifier = Bank Statement Line’s Transaction Reference

      • Otherwise, Gift Transaction’s Payment Identifier CONTAINS Bank Statement Line’s Transaction Reference

        image-20240819-110049.pngImage Addedimage-20240819-105920.pngImage Added

    • Once a matched Gift Transaction record is found,

      • The Gift Transaction record is updated where:

        • The Bank Statement Line = value is equivalent to the Bank Statement Linerecord.

        • The Bank Reconciliation Status = is updated to Reconciled.

        • The Settlement Date = displays the same date as the Bank Statement Line’s Settlement Date.

        • The Receiving Bank Account displays the same Bank Account = equivalent linked to the Bank Statement Line in the Bank Statement Bank Account.

          image-20240819-110220.pngImage Added

      • The Bank Bank Statement Line record Reconciliation Status is updated where:

        Reconciliation Status = Reconciled

        to Reconciled.

        image-20240819-110231.pngImage Added

    • After the reconciliation process,

      • A PosiPay Log record is created where:

      • Source = Bank Reconciliation

      • Details = Here is the list of Bank Statement Line records under the Bank Statement + (<Bank Statement record ID>) + record that have been reconciled: + <Bank Statement Line record IDs where Reconciliation Status = Reconciled> + .

      • Type = Information

        with the following details:

        image-20240819-111630.pngImage Added

      • If all of the Bank Statement Line records linked to the Bank Statement record has a Reconciliation Status = Reconciled OR Excluded,

        The

        the Bank Statement record is updated where:

        • Status

          =

          is set to Reconciled

        • Date Reconciled

          = date today

          populated with the date when the reconciliation process has been done.

          image-20240819-111756.pngImage Added

        • A PosiPay Log record is created where:

          • Source = Bank Reconciliation

          • Details = The Bank Statement + (<Bank Statement record ID>) + record has been reconciled.

          • Type = Information

          image-20240819-111848.pngImage Added

      • If one or more Bank Statement Line records linked to the Bank Statement record has a Reconciliation Status != is not Reconciled OR Excluded,

        The

        the Bank Statement record will NOT be reconciled.

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