Reconciliation Day: From Dreaded to “No Sweat”
Ready to eliminate the nightmare of reconciliation day? There’s finally a solution: Auto Reconciliation.
This is part 4 of our 11 Commandments of Online Giving series.
ONLINE GIVING COMMANDMENT #4
Keep Reconciliation Day Quick and Easy
Stewarding limited resources is an ongoing challenge for churches. In fact, “doing more with less” has become a common motto of most organizations these days.
We tend to think of that concept concretely, i.e. spending less money is the best way to be good stewards. But consider this: Saving your staff time and headaches could be a more powerful way to maximize your resources
Eliminating time-intensive, manual processes AND producing better outcomes can ultimately save you thousands of dollars spent on staffing allocations and inefficient solutions. And ultimately, it frees up resources for more ministry initiatives.
Nowhere is this more true than with the dreaded Reconciliation Day. The grueling tedium of reconciliation is factored into most finance teams’ workflow. But if you were to inquire, you’d find that it can involve hours of frustration and wasted time…
- Trying to match batched deposit amounts to specific gifts
- Manually breaking down gifts into their various designations or campuses
- Sorting out gifts according to the various fee schedules they fall into
Depending on the number of the funds you offer, this could be multiplied across thousands of lines of transactions.
The Magic of Auto Reconciliation
Vision2’s auto reconciliation easily cuts reconciliation time in half (or more) by validating ALL transaction details for you. With our simple GL file report that speaks your accounting software’s language, your GL entries seamlessly match what is entered into your accounting system.
If you have 10 fund designations, your GL report contains a line for each of the 10 funds that was donated to. Contrast that to the aforementioned hundreds or even thousands of lines you’d see with many online giving systems. That’s 10 lines at most – perhaps fewer.
And you can easily confirm the validity of the information without manual processing, because Vision2:
- Automatically sweeps chargebacks, refunds and any other changes, and attributes them to the right transactions, then updates the GL.
- Attaches unique deposit IDs to transactions so that tracking back transactions deposits during an audit is a snap!
Vision2 Cuts Reconciliation Time in Half (or more!)
Unburden staff with Vision2’s short, simple GL files report that easily cuts reconciliation time in half by:
- Validating ALL transaction details for you
- Mapping directly to your accounting solution’s structure
With Vision2, you get end-to-end contribution management that streamlines your offering and reconciliation process. Imagine reducing days of work to just a few hours.
Saving time = Saving money. Just imagine where those extra funds could be focused.
Have questions? Send us a message.