eCheck Reconciliation in Authorize.net
- Search your online bank account for deposits that contain the words "ECHECK.NET FUNDING" for a particular month.
- Copy and paste those transactions into a spreadsheet.
- From the e-Check statement on Authorize.Net, add up all the Usage Fees listed under the ACH Deposit Transfer that corresponds to a particular bank deposit and put that total in the Fees column opposite the deposit.
- Enter each Fee total as a withdrawal in the accounting software coded to our Bank Fees account.
- The formula in the green Gift Total column adds the bank deposit and fees together to get a gross amount.
- Compare this gross amount to the e-check batch deposits in the accounting software. Sometimes the gross deposit matches a single batch. Other times there are two or three batches in a deposit. You may use the Excel comments to let the bookkeeper know which deposits contain multiple batches.Note: During bank statement reconciliation, the net bank deposit gets cleared against the gross batch deposit and the fee withdrawal in the accounting software.