Pushpay's Reconciliation tool is a feature that gives you a consolidated view of transactions to aid in your financial reconciliation processes. It allows you to view a batch of transactions, see the total amount deposited into your organization's bank account, and identify whether a discrepancy has occurred. While the reconciliation tool offers a high rate of accuracy, there are times that you may experience a discrepancy.
Why do discrepancies occur?
The Reconciliation tool is built based on expected behaviors related to the way in which downstream systems process transactions. Though rare, if there is ever a time when a downstream system deviates from the expected behavior, a discrepancy may be presented in Reconciliation.
What do I do if I identify a discrepancy?
We understand that identifying and solving a discrepancy is critical to your financial process. More times than not, the related transactions that are causing a discrepancy have been added to a surrounding deposit (ie. the deposit before or after the one where we expected the transaction to be located). In those scenarios, you will want to do the following:
- Review the amount deposited in your bank and the amount shown in Pushpay to identify the discrepancy amount (in this example, we will use $100 as our discrepancy amount).
- Identify whether any surrounding batches also have a discrepancy by cross-referencing the deposit amount in your bank and the amount shown in Pushpay.
- You should now be able to take the two related bank deposits and add them to determine your control amount. You will then add the two differing Pushpay deposit amounts, which should match the control amount.
This will allow you to properly account for and reconcile the deposits as needed.
Still unable to identify the discrepancy? Submit a request with our support team.
I have identified a discrepancy, how do I fix the Reconciliation tab?
Now that you have identified the discrepancy, you may wish for the Reconciliation totals to match your bank deposits. Because the Reconciliation tool is built based on expected behaviors, there is not a way for you or our support team to manually adjust these totals. You will want to rely on your bank statement and General Ledger to account for deposit amounts.