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How Does the Program Deposit Split Report (FIN-4) Reflect Applied Payments/Credits?

IN BRIEF
The Program Deposit Split Report (REPORTS > FINANCIAL > FIN-4) shows when and where payments are applied, rather than when they are collected. This report is commonly used for reconciliation because it reflects how payments move across programs and charge categories over time, including applied, un-applied, re-applied, and deleted payments. 

Overview

The Program Deposit Split Report differs from the Bank Deposit Report in an important way:

  • The Bank Deposit Report shows payments based on when they were collected, refunded, voided, or deleted.
  • The Program Deposit Split Report shows payments based on when and where those payments were applied to charges.

This distinction is especially important when:

  • Payments are recorded but not applied immediately.
  • Payments are applied to the wrong charge and later corrected.
  • Payments are deleted on a different date than when they were originally recorded.

Because iClassPro tracks every change made to a payment over time, this report provides a detailed audit trail that is useful when families have questions or when bookkeepers and accountants are reconciling income.

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Accessing the Report

  1. From the main navigation menu, go to REPORTS.
  2. Navigate to the Financial section.
  3. Select Program Deposit Split (FIN-4).

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Step-by-Step Instructions

  1. Select a date or date range.
  2. Apply any relevant filters (such as programs or charge categories).
  3. Generate the report.
  4. Review totals in the following sections:
    1. Payments received within the date range
    2. Adjustments made to payments recorded prior to the date range
    3. Detailed audit trail of payments and adjustments

For full instructions on generating this report, see What is the Program Deposit Split Report (FIN-4)?

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Applied & Un-applied Payments

Observe the entries recorded for each of the families in the following reports to understand how payments in each of the scenarios are being tracked over time.

FAMILY NAME  DESCRIPTION OF EVENTS
Scenario 1: On 04/16/2019, a payment is recorded and applied to a charge immediately from the New Payment window.
Scenario 2: On 04/16/2019, a payment is recorded and left un-applied, then applied to a charge later in the same day.
Scenario 3:

On 04/16/2019, a payment is recorded and accidentally applied to the wrong charge.

Then it is immediately un-applied and re-applied it to the correct charge on the family ledger.
Scenario 4: A payment is recorded on 04/16/2019, then not applied to a charge until a week later (04/23/2019).
Scenario 5: 

A payment is recorded and applied on 04/16/2019 to an incorrect charge.


Then it is un-applied and re-applied to a new charge a week later (04/23/2019).

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Program Deposit Split – End of day 04/16/2019

To see totals for programs where payments were applied on this date range, you would run the Program Deposit Split report.

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Program Deposit Split – End of day 04/23/2019

On 04/16/2019, family Scenario’s 4 and 5 had not yet been completed. So we can run a report for 04/23/2019 to see how iClassPro accounts for the movement of money between programs, after the initial date of the payment(s).

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As you can see, running these reports day by day gives you a detailed picture of money coming into the business and how it is used in family ledgers. These details are necessary for bookkeepers and accountants that reconcile daily.

However, in the case that you reconcile less frequently, a date range can be used to get an end-of-date-range summary of the payments and program totals that occurred over that time frame.

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Program Deposit Split – Date range of 04/16/2019 through 04/23/2019

When run for the date range, the payments listed in the Program Deposit Split all show up as new income during that time frame- so all movements within the date range for these families is reported under the received table as totals matching the end of the date range.

In this case, money would only show up in the middle Adjustments table if it had been paid/recorded before the start of this date range and applied or unapplied within the date range of the report.

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Click here to view how the 5 Family Scenario would be reflected on the Bank Deposit report. 

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Deleted Payments

Now, when we show a negative entry on the Bank Deposit report for a deleted payment, we must still match the totals between the Bank Deposit and Program Deposit Split report so that your accountant or bookkeeper has a full matching record of events. This is done by recording a negative entry on the Program Deposit Split for the Program and Charge Category the deleted payment was applied to before being deleted.

Example

Program Deposit Split – April 24, 2019 (Before Deletion)

On the original Program Deposit Split report, the $39.99 cash payment is recorded as income on 4/24/2019 and shows whatever program/charge category it was applied to on that date.

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Program Deposit Split – April 25, 2019 (After Deletion)

The next day (04/25/2019), a staff member realizes that this payment was entered incorrectly and he/she deletes it. If you run a Program Deposit report for 04/25/2019, a negative entry for the same amount is subtracted from the income in the program/charge category/payment type used in the payment from the previous day. This negative entry allows the accountant/bookkeeper to make the necessary adjustment if they had already accounted for the income on the previous day.

Note: The detailed audit trail entry also includes a note in the Transaction/Check # field which references the original payment date.

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Program Deposit Split - Date range of 04/24/2019 to 04/25/2019 (After Deletion)

This Program Deposit Split report, run over the full date range of the payment entry and the date of the deletion, demonstrates how the positive and negative entries for the deleted payment even out over time, reporting the correct income totals for the date range.

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Click here to see how the deleted payment is reflected in the Bank Deposit report.

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Accounting for Deleted Payments

Comparing Program Deposit Split Totals to the Bank Deposit Report

Under normal circumstances where no payments are deleted or payment entry mistakes are made and deleted on the same date, the Program Deposit Split report's "Payments Received on" and the Bank Deposit report's "Payments" totals will match perfectly. That is because the Bank Deposit report is showing a list of transactions that took place on a specific date and the Program Deposit Split report is simply displaying where the money was applied within your company's financial structure.

However, when a payment is deleted one or more days after it has been reported as income, it can cause totals in the Program Deposit Split report to be different from the Bank Deposit's "Payments" totals.

Below are the three possible outcomes a deleted payment can have on the totals in the Bank Deposit and Program Deposit Split reports.

  • If the payment and deletion happen on the same date or within the date range of the report, they will balance each other out in the deleted payment totals. This will result in a zero-dollar balance that will not affect the totals in the Program Deposit Split report for the matching date range. (This is the case in the last example shown above.)
  • If there is a positive deleted payment amount in the deleted payments portion of the Bank Deposit report without a matching negative transaction, that means that the payment was not deleted until a date after the date range of the report. This payment will be included as a positive amount in the Bank Deposit's deleted payment totals and in the "Payments Received" table on the Program Deposit Split report.
  • If there is a negative deleted payment amount in the deleted payments portion of the Bank Deposit report without a matching positive transaction, that means a payment was deleted over this date range which was reported as income before the date range of the report. This results in a negative amount in the deleted payment totals on the Bank Deposit report and will be displayed in the "Adjustments" table on the Program Deposit Split report.

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Troubleshooting & FAQs

  • Why do my Program Deposit Split totals not match the Bank Deposit Report? 
    Differences typically occur when payments are deleted on a different date than when they were recorded.
  • Why does a payment appear on a later date than when it was entered? 
    Payments display based on when they were applied to a charge, not when they were recorded.
  • When does a payment show up in the Adjustments section? 
    When the payment was recorded before the report’s date range and applied or un-applied during the date range.
  • Is this report suitable for accountants and bookkeepers? 
    Yes. The detailed audit trail and date-based application tracking make it well suited for reconciliation.

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