Locations:

  • Payments Reconciliation page


Users with the following permissions: 

  • Financial - Reports: View Payments Reconciliation


Case:

The school's financial operations in a form of such as received awards, cash payments, etc. are stored both in QuickBooks and in GEGI. The employees need to regularly compare the data of the two systems to ensure no payments are lost and correct errors when needed.


Problem:

Manual revision takes a lot of time. How to make the revision and error correction faster when comparing the data from QuickBooks and GEGI?

 

Solution:

A new financial report called Payments Reconciliation is added to GEGI.

This report automatically compares the data from GEGI with the data from the QuickBooks file and finds the mismatches for future correction.


Open this report by clicking the Payments Reconciliation item in the Financial Reports menu tab:



The process consists of 4 steps. Each of the steps is described in details below.


Step 1 of 4 - Search Received Payments

At the first step you should choose which payments are to be matched in the Search panel:

  • Payment Type - Award, Cash Payment, Sales Receipt, Award Refund
  • Payment Date
  • Award Year


Note: At least one field, Payment Date or Award Year, must be filled.


After all the required received payments are found you can go to the next step by clicking the Next button under the Payments panel:



Step 2 of 4 - Upload File

The second step requires uploading a QuickBooks file with the data that is to be matched with the data found in GEGI:



Step 3 of 4 - Mismatched Students

The third step will show the payments that have multiple matches found in GEGI.

Such payments require the corresponding students to be manually selected in the Student in GEGI field. After selecting the students click the Apply button.

Note: If there is no such payment found, this step will be automatically skipped:



Step 4 of 4 - Compare Payments

The fourth step shows the matching results divided into three tabs.

The Matched tab displays the payments that are found both in GEGI and in the uploaded file:



The Not Found in GEGI tab displays the payments that are found only in the uploaded file but are missing in GEGI.

Note: The Reason column displays the reason why the payment from the file is not found (Payment wasn't found in GEGI or Student wasn't found in GEGI):



The Not Found in File tab displays the payments that exist in GEGI but are missing in the uploaded file:



Change Search Parameters

The fourth step allows correcting the matching payments that were incorrectly selected at the first step.

This is possible by changing the search parameters in the Search & Compare panel and clicking the Refresh button. The matching payments will be found using the new search parameters and the matching results will be automatically re-calculated:



Download Results of Comparison

The comparison results can be downloaded as a ".csv" file. Click the Download button under the Payments panel to download the file:



Then select the tabs with the data you need to include in the download:



The downloaded file will show the payment information as well as the Payment in GEGI column with the comparison result:

  • Student wasn't found in GEGI.
  • Payment wasn't found in GEGI.
  • Payment was found in GEGI.
  • Payment wasn't found in the file.


Available since GEGI v4.10.0 (view release notes).