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.
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,
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,
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
If all of the Bank Statement Line records linked to the Bank Statement record has a Reconciliation Status = Reconciled OR Excluded,
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
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.
To reconcile automatically just click the Automatic Reconciliation in Bank Statement.
When the Bank Statement Line is reconciled, each Bank Statement Line record will be matched to a Bank Deposit Batch record, the Bank Deposit Batch’s Total Transaction Amount should have the same value as the Bank Statement Line’s Amount.
Once a matched Bank Deposit Batch record is found the following records are updated.
Gift Transaction
The Bank Statement Line is populated with the Bank Statement Record.
The Bank Reconciliation Status is updated to Reconcile.
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.
Bank Deposit Batch
The Bank Statement Line is populated with the Bank Statement Line record.
The Bank Reconciliation Status is updated to Reconciled.
Settlement Date populated with the Bank Statement Line’s Settlement Date.
Receiving Bank Account displays the Bank Account linked to the Bank Statement Line in the Bank Statement.
Bank Statement Line
The Bank Statement Line Reconciliation Status is Reconciled.
After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details.
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.
Cash
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.”
When reconciling Bank Statements 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 and will be matched with to Bank Deposit Batch where:
Bank Deposit Batch’s Total Transaction Amount matched with Bank Statement Line’s Amount.
Once a matched Bank Deposit Batch is matched the Gift Transaction and Bank Deposit Batch records are updated and the Batch Statement Line Reconciliation Status is updated to Reconciled.
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
Bank Deposit Batch
Bank Statement Line
After the reconciliation process of Bank Statement Line records, a PosiPay Log is created.
