Errors in Deposit (CC)

We get a letter from the BNZ “NOTICE OF ERROR IN DEPOSIT” We get some info from them.
There are two scenarios (Maybe more?) One I’ll Call Bounces the other Miscalculations.

Bounces

Credit cards may occasionally need to be represented due to errors in card numbers or expiry dates, because there was no authorisation number or because there was not enough credit in the account.

1. Work out which slip(s) bounced.

2. In MoneyWorks create a debit so that the Error will show up when we reconcile the statement.

  • Cancel the original entry or entries (note: do not make these transactions red – as they are all active)
  • Make a note next to the Canceled that “Deposit was declined”
  • Put the date that is on the letter from the bank as the date.
  • They will be posted automatically.

    • Note these transactions (if there is more than 1) will show up separately in MoneyWorks but as a (negative) total on the bank statement.

  • Print the (negative) transactions

    Select them in “entered today” and print using Print as on screen.

3. These will need to be followed up and represented.

This may mean a phone call to BNZ

Phone for Authorisation

0800266565

Merchant # 0021 980891

Make a clear note – or email about the progress and print.

4. In MoneyWorks create a new transaction ready for the money as it turns up when the errors are fixed. This is just like a new CC Deposit.

  • Duplicate the old entry
  • New date from the BNZ letter
  • Make a note in the Description: (declined and represented)
  • Post to CC Holding

    As we don’t know yet if they will all come through or when we can leave them in CC holding. But so we know which ones they are print out the three (positive) transactions.

Paper Work

Make a bundle wit the letter, the printouts, any notes or slips.

This bundle is treated like a current bundles of slips. Sorted into the date flow. In the top right corner (landscape) note the amount & Statement # where it was sorted

Miscalculations

This happens when we have added up the slips incorrectly. Usually the error is fixed on the same statement, and thus when collating the transactions they will add up to the correct amount.

(not sure how we handle that over two statements.)

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