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eCheck Reconciliation in Authorize.net

 
To complete eCheck Reconciliation in Authorize.net:
  1. Search your online bank account for deposits that contain the words "ECHECK.NET FUNDING" for a particular month.
  2. Copy and paste those transactions into a spreadsheet.
  3. From the e-Check statement on Authorize.Net, add up all the "Usage Fees" listed under the "ACH DEPOSIT TRANSFER" that corresponds to a particular bank deposit and put that total in the "FEES" column opposite the deposit.
  4. Enter each "FEE" total as a withdrawal in the accounting software coded to our "Bank Fees" account.
  5. The formula in the green "Gift Total" column (refer to downloadable spreadsheet above) adds the bank deposit and fees together to get a "gross" amount.
  6. Compare this "gross" amount to the e-check batch deposits in the accounting software. Sometimes the "gross" deposit matches a single batch; other times there are two or three batches in a deposit. You may use Excel comments to let the bookkeeper know which deposits contain multiple batches.
    Example of a similar spreadsheet:
Note: During bank statement reconciliation, the net bank deposit gets cleared against the "gross" batch deposit and the "fee" withdrawal in the accounting software.