Date of donation transactions

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  • Updated 9 months ago
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We use a third party to collect donations and I am importing them into Reckon which works fine.
However donations made in June won't be transferred to us till early July.
So from an accounting point of view the transaction date needs to be July so it balances with the bank.
But from the donors point of view it was made in June, and they will be expecting their annual receipt to include June donations.

How should I handle this?
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Bob Hale

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Posted 9 months ago

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David Elliott

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There a few ways that would work.  On balance I would go for treating each donation (or batch for month) as a deposit or deposits during June - and treat deposit/s as outstanding/unreconciled in bank rec as at 30 June
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Bob Hale

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Thanks David.
I have done this but the problem I have now is that I can't Finish the reconciliation for February as there are still unreconciled transactions (the donations I received in March).
Also once I click the Reconcile button on each of these transactions the balance for Feb will no longer match the bank balance at end of Feb.
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David Elliott

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Bob: I get the impression you are trying to finish up with your Balance Sheet/GL balance as at 28 Feb agreeing with the bank statement balance at that date. Is that correct?  If so , then that can't be achieved if there are February banking transactions in Reckon One that don't show in the bank statements until March.

It is perfectly acceptable for this situation to exist - in fact in most instances it would be the case. Any unreconciled February transactions should show in the Bank Reconciliation Statement - and should equal the difference between the Balance Sheet figure and the Bank Statement figure.

If this is not the case then it seems to me that there may be a gremlin somewhere. I have encountered such a problem in the past - and finally fixed it by by-passing the (February) Bank Rec and then carefully ensuring I didn't do anything out of order in the next (March) Bank Rec.
i.e. Don't finalise/Finish a Bank Rec until you have all the relevant transactions (March and prior) recorded and can see that all does balance correctly (including unreconciled transactions).

Happy to discuss further. Good luck!