Bank Reconciliation for Activities, Fees and Meals

FeePay Admin Bank Reconciliation Methods

For each report, you have a Report Date Range option. There are two different methods for running reports: either by ‘Transaction Date’ or by ‘Deposit Date.’ There is a short lag time between when the parent makes a payment into the student’s account and when the district receives those funds. The ‘Transaction Date’ is the day that the user (parent) actually made a payment through the FeePay system. The ‘Deposit Date’ is the date that the funds are estimated to be deposited into your district/school bank account.

If you are looking for information based on the Transaction Date (for instance, all payments made by parents through FeePay in a certain date range) you should run reports under the heading Transaction Date Reports for the date range you are querying. Please note that although the Net Deposit by Payment Type report is under the Deposit Date heading, it is based on Transaction Date.

If you are looking for information based on the Deposit Date (for instance, all estimated deposits you will be receiving in your bank account in a specified date range) you should run reports under the heading Deposit Date Reports for the date range you are querying. For these reports (with the exception of Net Deposit by Payment Type), the queried date range reflects deposit dates, and not transaction dates.

Reconciling FeePay bank deposits to transactions for a calendar month of deposits:

  1. From your bank statement, find deposits with the descriptor ‘BankCard Services’.
  2. In FeePay Administration, select Reports – Advanced Financial Reports – Estimated Deposit Dates by Institution. Choose your date range, and run the report.
  3. Each day in this report shows a Daily Total for each payment type (you may see one deposit for ACH, and one deposit for Visa/Mastercard).
  4. The Daily Net Total column, for each payment type, should match your deposits to the bank on that day. Depending how your bank funds, you may see discrepancies between the daily totals. The net total that has been deposited to your bank for the entire month should match the net monthly total on the reports. If you are noticing consistent differences between the report and the total on your bank statement, please contact us. Each bank funds differently, and we can help determine the pattern of your bank.
  5. For districts that need to post funds to each school: Once the bank deposit figures have been matched to deposit totals for the queried date range, run Estimated Deposit Dates by Site. This is a detailed version of Estimated Deposits by Institution, and shows, per deposit, the amount that belongs to each school.
 
 
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