Hi,
We recently switched from Transcend to Element and have found the reconciliation process to be impossible. On a monthly basis we reconcile Tessitura to our credit card deposits on the GL. The reconciliation issues are being caused by the fact that Element does not batch out at 2am like Transcend did, and the fact that they are in Central time zone, while we are on the East coast. So our credit card deposits never match Tessitura.
Does anybody have any suggestions or tips? How do other companies reconcile Tessitura credit cards with Element gateway?
Thanks!
Mario Rossi
Staff Accountant
Boston Symphony Orchestra
617-638-9491
I believe there is functionality to account for the time zone difference -- I know there is definitely an API setting that determines when new batches for online sales are created. So at the very least, you should be able to sync up your postings with element's settlement schedule.
Adjusting the time zone definitely helps to reconcile daily totals of Tessitura to Element. The big problem we are encountering is reconciling the monthly GL - Tessitura to credit card deposits (which are deposited through Sage). I think because Element isn't batching out, Sage is receiving transactions as they happen. Therefore, a Sage deposit will contain more than one day of Element transactions. So there's no way to match a credit card deposit to the corresponding Tessitura posting reports.