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 the Bank Statement Line, its record is reconciled and each record matched to Gift Transaction.
When reconciling Bank Statement Line records via the Automatic Reconciliation button on the Bank Statement records will be matched to a Gift Transaction where:
The Gift Transaction Payment Identifier has a value equivalent to the Bank Statement Line’s Transaction Reference, otherwise, Gift Transaction’s Payment Identifier contains Bank Statement Line’s Transaction Reference.
Once a matched Gift Transaction record is found, the Gift transaction 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.
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
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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 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“
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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
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