Magic Support Articles

NRDS Reconciliation Report

Title: NRDS Reconciliation Report
Submitted by: Rapattoni Magic Software Support
Issue: How can I reconcile my bank statement using the NRDS
Reconciliation Report?

You can reconcile credit card transactions processed by NRDS e-commerce against your receipts using the NRDS Settlement Import and the NRDS Reconciliation Report.

The import enables you to load NRDS e-commerce settlement data directly into Rapattoni Magic. Once imported, the NRDS Reconciliation Report by Payment Type lets you print reports showing deposits by actual settlement date. For each transaction you will be able to view the gross amount, the portion allocated to your association, the transaction fee, and the net amount deposited into your association's account.

Consider the following terms and definitions when using this report:

  • Gross – Total amount of the receipt in Magic that was submitted to your e-commerce vendor for processing
  • Association Portion – Portion of the gross amount to be processed for the local association bank account
  • Fee – The amount charged by your e-commerce vendor to process the transaction (this is based on the association portion)
  • Net – The actual funds to be deposited in the local association bank account
  • Receipt Date – The day the transaction was submitted through Magic to your e-commerce vendor
  • Settlement Date – The day your e-commerce vendor deposited funds into the local association bank account
  • Bank ID – The bank account into which funds were deposited
  • Bank Deposit Date – The day that the bank recognized the deposit from your e-commerce vendor

Troubleshooting Tips

  1. Report Does Not Display All Expected Receipts – If your report totals don't match your bank statement totals, you may need to use a wider date range. Remember, transactions can take several days to process, therefore your receipt date range should start several days (we suggest 10) before your starting settlement date. Just keep in mind that your bank doesn't recognize the deposit until several days after your Receipt Date.

    When reconciling a bank statement for January (Bank Deposit Dates of 01/01/08 through 01/31/08) against receipts in Magic you might use the following criteria:

  2. Delay Between Settlement Date and Bank Deposit Date – The deposit of funds by NAR (Settlement Date) may be recognized by your local bank on a different day (Bank Deposit Date) due to time zone differences or bank practices. This is commonly one day.

    Solution: Check the Settlement Date totals against your bank statement's daily activity log to determine the delay between the actual e-commerce deposit (Settlement Date) and when your local bank recognized the funds (Bank Deposit Date). Once you have this information, you can adjust the Settlement Date range to account for this lag.

    The bank shows the e-commerce deposit the next day, therefore we would modify our dates to be one day earlier when running the report:

               Receipt Date: 12/20/07 through 01/30/08
               Settlement Date: 12/31/07 through 01/30/08

  3. ACH File Import Problem – There may have been a communication failure when a transaction was processed, preventing Magic from receiving complete data from NRDS. If there are any Non-Imported Transactions, select the Non-Reconciled radio button and run the report again to locate receipts that were not updated with data from your imports. You will then need to address these instances.
    1. Action Needed – There may be transactions that were fully processed through NRDS e-commerce and the bank, but were not recorded correctly in Magic. View the Credit Card Log (Managers > Accounting > Bank Processing > Credit Card Utilities > Credit Card Log) for any transactions that need an action to be taken and follow the instructions.
    2. ACH File Wasn't Imported – You may have forgotten to download and import an ACH file. To determine if this is the case, go to the Receipt Query and Adjustment Form and locate the receipt that you expected to display in your report. Highlight the receipt and click the IMS Detail button. Make a note of the EC Control number. Next, access the NRDS e-commerce website and locate the Organization Reporting menu. Here, you can search by EC Control Number. Enter the EC Control Number that you wrote down to find out which ACH file contains the data for this record. Then, simply follow the download instructions and import the file into Magic.
  4. Import Error – Errors may occur when importing an ACH file if the wrong file was downloaded or the integrity of the data has been compromised. You may inadvertently corrupt an ACH file by opening it in Microsoft Excel and then saving it, even if no changes were made. Try downloading the file from NAR again, and then import it into Magic again.

Contact Rapattoni Magic Support if you need further assistance. Please have your bank statements and e-commerce files accessible to expedite the support process.