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 created 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 (refer to the Default Settings section) and the payment record. Adjust if needed, then click on Next to continue.

Step 2: Payment Allocation

In this step, you decide how the payment amount is allocated. This step has the following components:

A. Reference Object Details: Displays the object and record the payment was originally made for.

B. Enrolments/Invoices Selection: Search for the enrolments and invoices that are due and available for payment.

C. Summary: This panel displays a summary of the payments to be made and reconciled.

D. Panel Divider: You can adjust the layout by resizing the panels or collapsing the summary section as needed while reviewing the payments.

Default Allocation

By default, the system suggests a payment allocation based on the payment details and the object the payment was originally made for. For example, if a payment was recorded for an enrolment, only invoices for that enrolment are considered by default.

The suggested payment allocation appears automatically in the Summary panel. If it does not meet your needs, you can adjust it manually before the payment is allocated and reconciled.

When multiple invoices are available, the system allocates the payment as follows:

• Invoices are paid in order of earliest due date. Any remaining amount is then applied to the next invoices.

• Within each invoice, the payment is allocated to the items by fee type in the following order:

  • Other Fees

  • Tuition Fees

  • Agent Commission

  • Accommodation Arrangement

  • Accommodation

  • Airport Transfer

  • Insurance

Manual allocation

You can adjust the invoices and amounts to be paid. To do so:

1. Search and select a student enrolment to view the outstanding invoices available for payment. You can then select the invoices and amounts in two different ways:

   • Using the checkbox column, select the rows to include and click on the Pay Selected button from the grid’s action panel. This will pay the full amount for the records selected and add them automatically to the summary.

   • Manually enter an amount in the Amount cell and click on Add to Summary at the bottom of the grid.

2. After adding all the invoices and amounts, make sure there is no difference between the payment amount and the total invoices to be paid.

3. Review the items in the summary panel to make sure the payment is allocated as intended.

4. Click on Submit to create the respective receipts and reconcile the payment against those receipts.

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.