Bank Error

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wrigjef
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Bank Error

Postby wrigjef » Wed Mar 24, 2010 3:59 am

There is a unit in our stake that had some funds deducted from their other account. The notation on the CUFS is "Bank Error". It appears that a deposit was short, right now we are guessing it was a returned check but a letter was never received. There was cash also in that batch so it is possible that the error could have been in cash. The instruction was to work with a reconciler in SL to work it out. We were told that if this error does not get resolved, the church could withhold an allocation. The problem is that all efforts to contact or get a returned phone call from the reconciler have fallen short at this point. Right now there is a growing concern that at some point SL will withhold an allocation.
Any suggestions?

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aebrown
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Postby aebrown » Wed Mar 24, 2010 5:47 am

wrigjef wrote:There is a unit in our stake that had some funds deducted from their other account. The notation on the CUFS is "Bank Error". It appears that a deposit was short, right now we are guessing it was a returned check but a letter was never received.


I've never seen a returned check described as "Bank Error". Rather, that is a check that couldn't be read, or was misplaced or damaged during bank processing, or some other problem in processing the actual deposit.

wrigjef wrote:There was cash also in that batch so it is possible that the error could have been in cash. The instruction was to work with a reconciler in SL to work it out. We were told that if this error does not get resolved, the church could withhold an allocation. The problem is that all efforts to contact or get a returned phone call from the reconciler have fallen short at this point. Right now there is a growing concern that at some point SL will withhold an allocation.


There are many good reasons to keep working on resolving this, but I wouldn't have anxiety over an allocation being withheld unless several months have passed. The Church doesn't lightly withhold allocations -- they first make sure that you are clearly neglecting an issue they have raised more than once with you.

wrigjef wrote:Any suggestions?


If the reconciler is not returning your calls, then I would contact Local Unit Support again. They can find out what's going on. Perhaps that particular reconciler is unreachable because of illness or other problems. Another reconciler could be assigned.
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crislapi
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Postby crislapi » Wed Mar 24, 2010 6:33 am

wrigjef wrote:There is a unit in our stake that had some funds deducted from their other account. The notation on the CUFS is "Bank Error".


I've never seen that error before. I'd have to go with Alan_Brown's description. Bounced checks show up with a message containing the donor's first initial and last name followed by "rt ck". If the deposit is short, the message says "deposit less than call".

If it's been a real long time (weeks), I'd say call again. I have had some issues where it takes the contact person several days to even figure out what happened and then several months to get everything sorted out and fixed.

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shawndowler
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Same thing just happened to me

Postby shawndowler » Thu May 20, 2010 8:04 pm

I was just reconciling April and got the same error. I haven't contacted anyone yet because I was in a hurry (I thought I could get it done while waiting for an appointment). I would like to know how this turned out for you. I will post back here when I find out what happened.


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