Sports Connect Daily Deposit Reconciliation
The deposits received from Sports Connect reflect only the net funds collected. That means the total paid by registrants, minus any credit card processing fees or refunds processed.
This guide will walk you through how to account for the true registrations paid and resulting bank fees.
Running the report from Sports Connect
1. Log in to your club portal
2. Click "Reports" in the top menu
3. Click "Standard Reports"
4. Select "Billing Reports"
5. Select "Account Summary"
6. Enter the start of the month and the end of the month as your date range and then click "View Report
7. From the report that generates, you will see the amounts needed to enter into QuickBooks
Entering Fees and Refunds into QuickBooks
1. Log into QuickBooks and select your region
2. You will either see a "Create" or a "+New" button in the upper left corner of the screen. Select "Journal Entry" from the options
3. In the Journal Entry, enter the last day of the month in the Journal Date Field
4. In the first line of the Journal Entry, Select 4005 Registration Fees in the Account Column
5. From your account Summary report you ran in Sports Connect, enter the total of the bank fees + refunds as a Credit. In this example, the Total Regional Processing Fees = $129.76 + Refunds = $50.00 so the total is $179.76
Add in a description so it's clear what the entry was for. In this example, "Recognize October Bank Fees and Refunds"
6. In line 2, you'll enter 8305 Bank and Credit Card fees as the Account and the total Regional Processing Fees from your Account Summary report will be entered as a Debit. If you have Refunds, you'll select 4006 Registration Refunds on line 3 and enter the amount as a Debit as well.
7. When you have everything entered, select Save and Close at the bottom
