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Bank Deposit Reconciliation Tip Sheet

ProPay Bank Deposits (Credit / Debit Cards and Echeck)

  • 2-business day funding
  • Midnight (Mountain) cutoff time
  • Segregated by account
    • Rent Accounts, Deposit Accounts and Application Accounts will each have their own deposits
  • Segregated by payment channel
    • Credit/Debit card transactions
    • eCheck transactions (if processing through Propay)
  • Payments are always pushed out to Yardi the following day and grouped in unposted receipt batches by deposit

BankServ Bank Deposits (IF you have check scanning, this will apply to you)

  • Cutoff time for next-day funding is ~4:30 PST
  • eCheck and check scanning deposits are separate
  • Transactions processed over the weekend (~4:30 PST Friday – ~4:30 PST Monday) are aggregated into a single deposit
  • Payments are always pushed out to Yardi the following day and grouped in unposted receipt batches by deposit
  • Aptexx pushes receipt batches into Yardi the following day (based on the 4:30 cutoff time for the sake of consistency)
    • The only case (excluding the rare external processing issue) where the bank deposits may not match Yardi receipt batches is weekend/holiday processing of BankServ transactions. Since all payments are pushed into unposted receipt batches the day after they are made (again based off the 4:30 cut off time), there will be multiple receipt batches in Yardi for a single deposit.
  • Below is a sample calendar of payments and their corresponding deposits and receipt batches for BankServ

 

 

Yardi Bank Reconciliation

As indicated above, the vast majority of the deposits that will hit the bank account will tie to receipt batches posted into Yardi except for holidays and weekends (with BankServ). In order to assist with these scenarios, Aptexx has reporting that will help accountants locate payments and their corresponding bank deposit and receipt batch (receipt batches are called export reports in the Aptexx system).

Below is an example of a bank rec report and the associated reports in Aptexx.

 

Aptexx Check Deposit Report

Bank_Rec_Tip_Sheet.png 

Aptexx Export Report

Bank_Rec_Tip_Sheet_2.png

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