Reconcile Subscription Payments

Reconcile Subscription Payments

   Reconcile Subscription Payments

  Table of Contents

 

  1. Link to Main Section 1

  1. Link to Main Section 2 

  1. Other Details

 

Overview of the SOP - This is covering the Accounting side of reconciling Subscription Payments.

 

  Resources {Heading 1}

    ● QBO

    ● Card Pointe

    ● Authorize.net

    ● Subscription Payment Spreadsheet

 

 

  Main Section 1 Quick Description

 

  1. Find transactions in QBO that are labeled “Merch”.

  1. Open Card Pointe and go to the funding page where you can find the matching deposit.

  1. Reconcile the transactions with the Subscription Payments spreadsheet.

  1. In QBO split the transaction and put in each transaction individually.

  1. Once you are done check mark that the transactions have been reconciled into QBO

 

  Main Section 2 Step by Step

 

  1. In QBO find the deposits that are from “Merch”.

  1. Open Carde Pointe

    1. Click on Reporting

    1. Click on Funding

    1. Click on Location

      1. Choose which company you are working with.

    1. Find the matching deposit amount and open to see the transactions.

      1. If the transaction number is marked with a T at the beginning that is for Authorize.net transactions and you will need to look in Authorize.net for the description of the transaction.

      1. In the transaction list you may find the following.

        1. Invoices from MagHub

        1. Subscription Payments

    1. After finding the matching transactions go back to QBO

  1. In QBO split the transaction

    1. Put in the appropriate information for each transaction.

    1. Click “Add” to add the transaction.

  1. Open the Subscription Payment spreadsheet.

    1. Find the corresponding transactions and mark that they have been reconciled in QBO

  Other Details

    ● This must be done daily.

In order to do this SOP completely Membership must put the transactions into the Subscription Payment tracking sheet.