Reposting from the Finance Forum:
Hello Finance friends!
I hope everyone is handling this better than our organization, so you can direct me to some best practices... The crux of our issue is Tessitura views payment methods as text fields, thus seeing no difference between a debit from Amex to credit to On-Account, but our bank deposits don't see the "refund" that is then reflected on our posting reports. Essentially, our Finance Department is trying to reconcile our bank deposits with the posting reports, but moving payments from real payment methods (i.e. Amex, Visa, MC, Discover) to internal payment methods (On-Account, Gift Cert) is confusing our totals with what is actually credited or debited to our Vantiv accounts.
What way(s) are you reporting a real refund (Amex to patron's CC) vs. a movement of money (Amex to On-Account)? We just a need a one-to-one representation as to what monies landed in the bank.
To give you a bit of background in our environment, we have one on-account payment method that is used by both Devo and Ticketing. Our round-up donations land in on-account money and are then manually booked by our IG team. In the past, Ticketing has used on-account for "returned" subscriber tickets in which they can use those funds and apply it to another purchase in the future. Our current problem has apparently always been an issue with Finance, but I am just now being looped in. Unfortunately, when Broadway shut down on March 12th, we got 'Seat Release Utility' happy and moved all perfs from 3/13 - 4/12 to on-account (all prior to the Event Cancellation Utility release).
I am not against building a separate on-account payment method to use for COVID-related purposes, but that still doesn't solve our reporting issues - all payment methods will still show up on the posting report with a debit from Amex and a credit to on-account.
Any/all suggestions would be greatly appreciated.
THANK YOU!!