Payments and reconciliation

Reconcile money received or paid with the records it settles. Bank lines, processor payouts and invoices represent different parts of the workflow.

Match bank activity

Import or create the statement for the correct account and period. Check currency and lines, then match incoming money to invoices and outgoing money to bills or other relevant records.

Review partial payments, unmatched lines and differences. Use open receivables and payables to identify remaining amounts.

Processor payouts

A payout can combine payments and fees. Review its components and transferred amount, then reconcile the bank transfer to the payout. Lock finalized payouts or statements after completing the review.

Check that document payment status agrees with its allocations and that accounting processing has finished. Follow up Outstanding balances and statements, or use Reconciliation and open items for period close.