The article has been updated successfully.To view the report:
1. Press the New Report button from the Reports tab.
2. Select the Finance Reports category.
3. Select ePayments Reconciliation.
The ePayment Reconciliation report displays all ePayment transactions with accurate settlement dates, including Check Scanning transactions. The new fields on the report make locating transactions easier.
Note:
Bank Credit/Debit Date – This is a new field that appears on the ePayment Reconciliation and ePayment Batch reports. It displays the date the transaction hit the Property Management Company bank account. This is the date the payment settled for any money in transactions (e.g., resident payments, applications, owner contributions), and is the origination or withdraw date for money out transactions (e.g., owner draws, refunds).
Settled to Owner Acct. – This field appears on the ePayment Reconciliation report. It was titled Settlement in the past but to more clearly define this field, it has been updated to Settle to Owner Acct.
Withdraw Date – This is the date the funds are removed from the payment account. This is now a field on the Payment Detail screen.
You can set filters (e.g., filter by date or even define custom filters) to see the most relevant information. In order to use this report to reconcile, set the bank credit/debit date as the date filter. This limits the report to only showing ePayments that have affected the bank account. Set the range to be the day or range of days that you are trying to reconcile with your bank statement. The report shows transactions in the order they affected your bank account. Note that the batch total column on the far right side of the report lists the batch that each of the payments is included in, that total ties to the batches on your bank statement. Depending on how your bank shows transactions, you may need to combine a money-in batch total with a money-out batch total from the same payment type (ACH, Credit Card, Check Scanning) from the same day to get the total amount shown on your bank statement.
You can also use the report for additional purposes including:
Payment Details: Use the report to get the most information about each individual ePayment. It also lets you see them all in one report and exports to Excel to further filter or sort the information. When you filter the date ranged based on the date of the transaction, you then include pending payments and can sort the information based on that date.
Tenant Payments: Use the report to track down issues or answer questions from tenants. The report lists returned or voided payments, you can search for a specific dollar amount on a scanned check to see where it is applied, or filter by specific payment methods.
Owner Draw Settlement: Run the report to show the timeline of owner draw processing from the time you process the draw to when it settles into the owner’s account. You can create a custom version of this report that just shows owner draws and includes the column that shows when the funds settle to the owner’s account.
