Reconcile External Payments

Overview

Reconciliation is the process of matching confirmed external payments with receipts in the system. This ensures that payments recorded in external systems, such as online payment gateways, are accurately reflected and applied within the system.

With our integrations, external payments are created and updated automatically. Once confirmed, they become available for reconciliation. During reconciliation, receipts are generated and applied to the outstanding invoices linked to the record the payment was made for. This makes it simple to identify and allocate payments accurately. The process is highly efficient, as the system automatically suggests and preselects the invoices that match the confirmed payment amount, reducing manual work and minimising errors.

Considerations for Reconciliation of External Payments

• Only payments that have been confirmed will be available for reconciliation. The definition of confirmation may differ by payment provider, but the system will indicate when a payment is ready to be reconciled.

• Reconciliation can only be made by creating receipts during the process. It is not possible to reconcile against existing receipts.

• Only the full amount of the payment can be reconciled. Partial reconciliation is not supported.

• The system will suggest and preselect the invoices and amounts to be paid based on the payment details. However, you can allocate the funds to different enrolments or invoices for the same student the payment was made for.

• For payments made for Offers, the Offer must first be accepted. The payment can then be allocated to the respective invoices.

• When allocating the fund to invoices from multiple enrolments, a receipt will be created for each enrolment.

Reconcile External Payments

Before reconciling an external payment, ensure the Reconciliation Status is marked as Ready to Reconcile.

Starting the Reconciliation Process

You can begin reconciliation in two ways:

Option 1: From External Payments Search

1. Locate and select the payment to reconcile (only one payment can be selected).

2. In the actions panel, click Reconcile.

3. The Reconciliation Wizard will open.

Option 2: From External Payment Details

1. Open the details page of the payment.

2. In the header, click Reconcile.

3. The Reconciliation Wizard will open.

Reconciliation Wizard

The Reconciliation Wizard allows you to customise how the payment is reconciled. It consists of two steps, with most options automatically preselected based on your system settings and the payment details.

Step 1: Payment Details for Receipts

In this step, you can review and update the details of the receipt(s) that will be created during reconciliation.

To make the process easier, all fields are pre-filled with information from your system settings and the payment record. Adjust if needed, then click Next to continue.

Step 2: Payment Allocation

In this step, you decide how the payment amount will be allocated.
By default, the payment is applied to the object and record it was originally made for, but you can adjust the allocation if required.

This step has three sections:

• Section A: Reference Object Details
  Displays the object and record the payment was originally made against.

• Section B: Enrolments/Invoices Selection
  Select a student enrolment to view outstanding invoices.
  Enter the amount to allocate for each invoice or item, then click Add.
  This adds the selected invoices, items, and amounts to the summary.

• Section C: Summary
  Shows:

  • Total payment amount

  • Total allocated to invoices

  • Any difference between the two

  The grid lists invoices and items to be paid.

When ready, click Submit to generate the receipt(s) for the selected invoices. These receipts will also be linked to the external payment (reconciled).

Unreconcile External Payments

Mistakes can happen. If an external payment was reconciled in error, you can reverse the process by unreconciling it.

When unreconciling, you can choose to simply unlink the payment from the receipts or also delete the associated receipts.

To unreconcile a payment:

1. Open the external payment you want to unreconcile.

2. Ensure the Reconciliation Status is set to Reconciled.

3. In the header, click Unreconcile.

4. A confirmation window will appear.

   • To also delete the receipts the payment was reconciled against, select Delete reconciled receipts.

5. Confirm to finalise the process.