Payment Reconciliation

In complex scenarios, especially in the capital goods industry, sometimes there is no direct link between payments and invoices. You send invoices to your Customers and your Customer sends you block payments or payments based on some schedule that is not linked to your invoices.

In such cases, you can use the Payment to Invoice Matching Tool.

Accounts > Tools > Payment Reconciliation

In this tool, you can select an account (your Customer’s account) and click on “Pull Payment Entries” and it will select all un-linked Payment Entry and Sales Invoices from that Customer.

To cancel off some payments and invoices, select the Invoices and Journal Vouchers and click on “Reconcile”.

Payment Reconciliation

Step 1: Select the Account against whom the payments need to be reconciled.

Step 2: Mention the Voucher Type, whether it is Purchase Invoice, Sales Invoice or Payment Entry.

Step 3: Select the Voucher Number and click on 'Get Unreconciled Entries'.

  • All the payment entries will be pulled into a table below.

Step 4: Click on the entry row to allocate a particular amount.

Step 5: Click on the button 'Reconcile'

  • You will get a message that says 'Amount allocated successfully'

Next: Period Closing Voucher