Greeting, fellow late BAS-processors!
I have a curly one.
My merchant account deposits aggregated daily deposits into my bank account. I reconcile this across the various target sales by using Undeposited Funds.
This works nicely, except for now, of course. A customer decided to change his shipping solution after he had paid. This happens from time to time. My online store does not handle multiple payments for a single sale, so I chose to reverse the payment in the merchant gateway, tell the store the payment has not been received, and ask the customer to pay the corrected amount.
The original payment was aggregated with the merchant deposit for Wednesday.
- So I have a bunch of payments that can be attributed to sales, including the original $120 payment that will be refunded tomorrow. In this case, the outstanding amount for the sale is greater than this, but there is another case, mercifully not yet encountered, where
The reversal was deducted from the Thursday's merchant account deposit.
- It was a quiet day for credit card purchasers, there are only two transactions:
- The refund of the original $120
- A new payment of $150 (because my boy is keen!)
- So the merchant account transfer is just $30
If I assign the original $120 and second gross transfer of $30 to the sale, I will end up with a correct balance in AE but the numbers will not match the bank statement, requiring longwinded prose in all transactions and (thank you AE 17) the reconciliation. I prefer to have en exact compliance between bank and AE to make future tax returns and forensics easier.
Therefore, I am looking for a way to handle this so that the bank register in AE matches the bank statement.
You thoughts and prayers are, as always, appreciated.
Russ