Automatic Bank Reconciliation - PosiGive
- Jhetah Mae Leornas
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.
Once a matched Gateway Settlement record is found,
The Gateway Settlement record is updated where:
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.
All of the Gateway Transaction records linked to the Gateway Settlement record are updated where:
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.
If the Gateway Transaction record has Gift Transaction, the Gateway Transaction’s Gift Transaction record is updated where:
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.
If the Gateway Transaction record has Gift Refund, the Gateway Transaction’s Gift Refund record is updated where:
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.
The Bank Statement Line record is updated where:
Reconciliation Status = Reconciled
After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details:
If all of the Bank Statement Line records linked to the Bank Statement record have a Reconciliation Status of Reconciled 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
PosiPay Log
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.
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 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.”
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.
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.
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
Bank Deposit Batch
The Bank Statement Line Reconciliation Status is also updated to Reconciled.
After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details:
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.
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 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.
Once a matched Bank Deposit Batch record is found, all of the Gift Transaction with Cash as Payment Method linked to it are 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.
The Bank Reconciliation Status in the Bank Deposit Batch will not be updated to Reconciled since only Gift Transactions with Cash as a Payment method have been reconciled.
Since the Bank Deposit Batch Reconciliation Status has not been updated to Reconciled then the Bank Statement Line Reconciliation Status is Unreconciled.
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.
After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details:
Check (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.
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 Check Amount is equal to the Bank Statement Line’s Amount.
Once a matched Bank Deposit Batch record is found, all of the Gift Transactions with Check as Payment Method linked to them are 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.
The Bank Reconciliation Status in the Bank Deposit Batch will not be updated to Reconciled since only Gift Transactions with Check as a Payment method have been reconciled.
Since the Bank Deposit Batch Reconciliation Status has not been updated to Reconciled then the Bank Statement Line Reconciliation Status is Unreconciled.
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.
After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details:
Individual 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.
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 Transaction Reference field value matches each Gift Transaction’s Payment Identifier field value.
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.
If the Bank Deposit Batch’s Bank Reconciliation Status is Reconciled, then the Bank Statement Line Reconciliation Status is updated to Reconciled.
After the reconciliation process of Bank Statement Line records, a PosiPay Log is created with the following details:
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.
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 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 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.
The Bank Statement Line Reconciliation Status is updated to Reconciled.
After the reconciliation process,
A PosiPay Log record is created 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, the Bank Statement record is updated where:
Status is set to Reconciled
Date Reconciled populated with the date when the reconciliation process has been done.
A PosiPay Log record is created where:
If one or more Bank Statement Line records linked to the Bank Statement record has a Reconciliation Status is not Reconciled OR Excluded, the Bank Statement record will NOT be reconciled.