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.
Stripe Payout
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
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
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Bank Deposit Batch
Combined Cash and Check (Cheque) in Bank Statement Line
In reconciling Bank Statement Lines for both Cash and Check payment methods, ensure that each Bank Statement Line’s Amount value matches each Bank Deposit Batch’s Total Transaction Amount value.
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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
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Lump Sum in Bank Statement Line
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 (Cheque) Lumped together in Bank Statement Line
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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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.
Cash
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Lump Sum in Mixed Transaction
To proceed in Bank Reconciliation make sure that multiple Bank Deposit Batch has been created where the Payment Method is Cash and Check. Create a Bank Statement and create Bank Statement Lines records under this record you’ve just created. Ensure that each Bank Statement Line’s Amount field value matches each Bank Deposit Batch’s Total Cash Amount field value.
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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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Check
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(Cheque) Lump Sum in Mixed Transaction
To proceed in Bank Reconciliation make sure that multiple Bank Deposit Batch has been created where the Payment Method is Cash and 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 the Bank Deposit Batch’s Total Check Amount field value.
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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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Individual
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Check (Cheque) Bank Statement Line
To proceed in Bank Reconciliation make sure that multiple Gift Transaction records that have been created have Check as the Payment Method and the Payment Identifier check number, and should be linked to Bank Deposit Batch.
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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.
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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“
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
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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
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
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 = equivalent displays the same Bank Account linked to the Bank Statement Line → in the Bank Statement → Bank Account.
The Bank Bank Statement Line record Reconciliation Status is updated where:
Reconciliation Status = Reconciledto Reconciled.
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:
If all of the Bank Statement Line records linked to the Bank Statement record has a Reconciliation Status = Reconciled OR Excluded,
Thethe Bank Statement record is updated where:
Status
=is set to Reconciled
Date Reconciled
= date todaypopulated with the date when the reconciliation process has been done.
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 has a Reconciliation Status != is not Reconciled OR Excluded,
Thethe Bank Statement record will NOT be reconciled.
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