bank reconciliation problem

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neac
Posts: 59
Joined: Mon Jan 28, 2019 8:26 am

bank reconciliation problem

Post by neac »

Hi,
I have a problem with a bank reconciliation that i don't know how to resolve.

last month, our bank statement cutoff was May 29. We had 2 contributions made via debit on May 29, both deposited into the account on the same day.
One of these debit contributions was lumped in with other contributions (cash and cheques) in power church: contribution date May 29, entered on June 13, posted on June 13. Those other contributions did not deposit into the bank until June 1, therefore do not appear on the bank statement.

The other contribution has a contribution date of May 29, and powerchurch shows it was entered and posted June 17, although I definitely did not make any entries today.

What do I do so I'll be able to complete the reconciliation?

NeilZ
Posts: 9403
Joined: Wed Oct 08, 2003 12:20 am
Location: Connellsville, PA
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Re: bank reconciliation problem

Post by NeilZ »

neac wrote:
Wed Jun 17, 2020 9:05 pm
Hi,
I have a problem with a bank reconciliation that i don't know how to resolve.

last month, our bank statement cutoff was May 29. We had 2 contributions made via debit on May 29, both deposited into the account on the same day.
One of these debit contributions was lumped in with other contributions (cash and cheques) in power church: contribution date May 29, entered on June 13, posted on June 13. Those other contributions did not deposit into the bank until June 1, therefore do not appear on the bank statement.

The other contribution has a contribution date of May 29, and powerchurch shows it was entered and posted June 17, although I definitely did not make any entries today.

What do I do so I'll be able to complete the reconciliation?
Well .. what you can do is REVERSE the June 13th contribution transaction in Funds Accounting, I'd add some text giving the reason. I would also reverse the one from the 17th, you need to do this as it actually hit the bank on the 29th.

Then enter two NEW transactions: one that covers BOTH the May 29th direct deposits with a DATE of May 29th, and the other covering the contributions from June 13th with a date of June 13th. When you post that it will correct the situation.

About today's entry .. someone entered that data. I'm guessing this is a contributions entry, and as such, would show who entered it.

Now, what to do about keeping this from happening again?
1. When you get notification about direct deposits hitting the bank on a certain day, enter that into Contributions using the DATE it hit the bank. Do not mix this in with other contributions. Post these as soon as you enter them.

2. I'm assuming that someone initially sounds the funds on Sunday, and does a bank drop. Later someone takes the data entered on a form of some type and enters it. Again, these contributions should be entered using the date of the collection. So if the funds were collected on say Sunday, June 7th, the Contributions Entry date should be June 7th. The reason I'm saying this is, unless you're using the dates as examples, the Contributions entry date was a Saturday.

If you do those two things, you shouldn't see this occur again.

My final suggestion, I'd teach your Sunday counters how to use Powerchurch for Contributions entry. This eliminates the middle person, and all you have to do is verify the deposit.
Neil Zampella

Using PC+ since 1999.

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