Hello!
We've run into a challenge reconciling a gala involving two organizations. I'm hoping a Tessitura genius might shed light on the intricacies of these reports.. I've read all documentation, reviewed every order entry against actual orders, verified the postings in Quickbooks against the GL Summaries and cannot find the difference.
Finance took their total revenue from the daily GL Postings into Quickbooks, compared it to the Payments by Performance, deducted the amount listed as the other organizations revenue and came up with a $79K difference between the two reports. It's not an issue with the funds going to the other organization given that's over $100K.
I created specific GL Lines to post Gala Tickets and Gala Donations (we do not have the development module and we're in a consortium). Additionally, I created a Payment Method for all revenue paid to / received by the other organization to allow tracking for settlement later.
I cannot find the difference. I have combed through the Performance Transaction Detail, GL Summaries and Payments by Performance. Each gives a different bottom line number as does the Box Office Statement.
Finance states they have not made data entry errors though I do see a $22K difference when I compare their Quickbooks detail to the GL Summaries day to day. I've confirmed all orders were entered correctly by the box office.
What could it be and how in the world do you find it when nothing matches? We're in our third season and never encountered a difference of this size on an event.
My theories are/were:
One of the price types was not posting to the correct GL - not the case
Data entry errors by one of the departments - not the case.
Orders purchased in the wrong event. - not the case.
Has anyone else run into this? Am I missing something with respect to how the reports are posting payments?
For example, doe the Payments by Performance report deduct refunds, exchanges, etc or is it giving us the gross amounts posted? If yes, it would follow that the GL Summary should be the bottom line to rely on net proceeds correct?
Any advise, experience or a lead to other documentation that might be helpful would be most appreciated!
Michelle,
I may be grasping at straws here but have you tried the Transaction by Posting report where you can run a report on the specific GLs you are trying to balance with by the posting dates which would hopefully match the posting report you mentioned.
Hi Terry.
You're not grasping at straws at all! It's a perfectly valid thought and I have actually run that report against the GL Summaries and our Finance Departments Quickbooks Transaction Summaries with no luck.
My immediate thought is there's something misreported on the fiance side since I've confirmed there are no issues on the box office side.
One thing that would help is knowing with certainty that:
The amounts listed in the GL Summary include the net of that days revenue including exchanges, refunds, gift certificates, etc.
The amounts listed in the Payments by Performance reports do in fact include the true net revenue collected for each payment method.
I read in the documentation that the Payment Transaction Detail handles / pays exchanges, fees, etc differently which is curious. So this begs the question for me, is this a reliable report to run against our Finance departments postings?
Thank you so very much again for brainstorming!