Many giving systems use a 3rd party merchant account provider and leave the problem of reconciling fees, refunds, NSFs, deposits, and chargebacks to your finance team. Since Vision2 is both the software provider and the payment processor, we provide a seamless accounting experience by recording all related journal entries for payments that are processed by (or manually entered into) the system.
Vision2 provides ledger post files in Excel format ready to download and enter into your accounting system. Your ledger should balance to your bank. We expect you to let us know if it doesn't!
If you haven't yet moved to the ledger auto-post feature, please follow these steps to generate a ledger post file and determine the deposit total:
Go to the Ledger tab > Updates for General Ledger
Click the Create a Ledger Post File + button
Ledger Post ID: the file name you wish to use. Example: 3/23 to 3/29 2020 online
Post Date: Keep today's date in this field. This provides a record of the file create date.
Enter a Transaction Start Date and a Transaction End Date for the period you are reconciling. Example: Start 3/23/2020 and End 3/29/2020
Click the Enable Advanced Criteria button
Select the payment methods you wish to include in this file
Credit Card and Bank Account are the online payment methods
Cash, Check, and Stock are manually entered payment methods
Electronic Deposit is scanned checks
To include batches: in the Search for Batches to Include section you can search by batch name or enter a date range and click the Select Batch button to the right of each batch you wish to include in this file
Scroll down and click the Save & I'm Done button
Click OK to confirm your selections
Refresh your browser until the status shows Completed
Click the file name link
Click the Download Ledger Post File Button
Open the Excel file
Click the Sort & Filter button
Click Custom Sort
Sort the file by Account Type and Transaction Date
The account type Cash is the deposit account. The Debit is the settled amount for the transactions on that day. Any Credits for cash are deductions from the settled transactions and need to be subtracted from the debit. Example: credit card fees that are separate from the settled transactions, including failed card authorizations and fees to store a valid card. ACH credit to cash would be a donation that was charged back by the bank.
To see the transaction details for this file, click the Download Supporting Transaction Information button on the ledger details page