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smeisner14

Junior Member
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Posts: 29
 #1 
Wondering what others' process is for bookkeeping when accepting payments through PowerPay.

We run into issues when trying to account for the processing fees. We have several different programs we run and for our budgets, we want each program to pay for its' own processing fees.

Currently, I give the Activity Report to my bookkeeper, and she enters into Quickbooks to the appropriate Class/Account based on a table I create from the transactions in the Activity Report. (We do NOT enter every invoice into Quickbooks.)

Then, I download the Payout Report and try to match it to the Activity Report. The problem though is that the Payouts happen 2-5 days after the Activity, AND they are deposited daily. So the tricky part is that the Payouts are done daily and I have to try to figure out what Payouts go with what transactions. Sometimes these Payouts have multiple transactions from multiple programs, and from what I can tell sometimes even multiple days.

In the end, we aren't matching what our bank says we have and what these reports are telling us we have. I'm just trying to figure out a good process for bookkeeping that accounts for the processing fees accurately.

Any ideas? I'm sure we aren't the only ones using Quickbooks and also dealing with this.


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CaseyKipfer

Administrator
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Posts: 8
 #2 
Hi smeisner14.  Thank you for your question.  This is one that we are starting to receive more frequently as use of PowerPay increases and organizations use it across multiple programs for which they report on individually.  

Your workflow (reconciling transactions to payouts) looks good but here are a few notes to keep in mind: 

All transactions are batched daily and deposits occur three business days later.  This means that there are sometimes multiple deposits on a single day (from Saturday and Sunday batches).  

Deposits are net of fees and refunds.  When you process a full refund, SportsEngine returns all fees related to the original transaction as well.  This can sometimes cause confusion as it actually reduces your fees within that daily batch.

We know how important this is to your organization and want to ensure you are able to account for all payments and fees appropriately.  We will be reaching out directly to help you and your team get squared away.  
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