All funds coming from MSB will go directly to your account. Please be aware of the following as you reconcile:
> Any funds coming through E-check instead of credit card, can take up to 10 business days to clear in your account. You will see the transaction on your reports, but the funds will not come into your account right away. This is one reason your reconciling might not match.
> Refunds that are issued can take up to 1 week for Credit Cards and 10 business days with E-check, to resolve in your account.
> All deposits in your account are batched in at specific times and dates, this means more than one product can be entering your account in one batch. Be sure you know which products you are currently offering and run reports for each to help with your reconciling.
> The District batches all incoming transactions together and sometimes there are mix-ups. When the monthly reconciling happens at the District level, any funds that have not been allocated correctly are reallocated. This will be reflected in your Monthly Statement and will be labeled as a “True Up”. Reach out to the Foundation if you have discrepancies or need help understanding your statement.
> MSB charges 3.35% in fees. You will see the fees come out on your monthly statement. Please be aware that if you cancel or refund any products, fees are not refunded to the chapter. (MSB runs a rounding program on fees, your fees will not always add up to exactly 3.35%. It can be slightly higher or slightly lower on different transactions.)
