Once external payments are ready for reconciliation, you can reconcile multiple payments automatically based on your system configuration, which can be customised to suit your needs.
If this is your first time reconciling payments, we recommend reviewing the following article to understand the general concept of external payment reconciliation:
Considerations for Automatic Reconciliation of External Payments
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Multiple External Payments can be reconciled at the same time.
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The full payment amount is reconciled. Partial reconciliation is not supported.
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Overpayments are supported.
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Surcharges are supported.
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For payments associated with an Offer, the Offer must first be accepted. Once accepted, the payment can be allocated to the corresponding invoices.
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When a payment is allocated across multiple invoices, a separate receipt is created for each invoice.
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How Automatic Reconciliation Works
During automatic reconciliation, the system allocates the payment to outstanding invoices in the following order:
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The system applies the payment to the oldest outstanding invoice first.
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If there is remaining balance, it continues to the next oldest invoice until the full amount is allocated.
The invoices considered for reconciliation depend on what the External Payment is linked to:
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Payment linked to a student: The system considers outstanding invoices across all enrolments for that student.
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Payment linked to a specific enrolment: The system first considers outstanding invoices for that enrolment. If a balance remains after all invoices for that enrolment have been paid, the system continues to outstanding invoices from other enrolments for the same student.
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The system first applies the payment to invoices within that enrolment.
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If there is still remaining balance after all invoices in that enrolment are paid, it then moves to invoices in other enrolments for the same student.
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Within each invoice, funds are allocated according to the configured Order of Fees for Reconciliation. This order can be adjusted in the system settings to suit your organisation's requirements. For more information, see External Payments Settings | Order of Fees for Reconciliation
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The tax portion of the payment is allocated proportionally in line with how the payment is applied to the taxable items on the invoices.
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For payments marked as Net, no funds are allocated to Agent Fees during automatic reconciliation.
If the payment is successfully allocated, the system will create the relevant receipts and link them to the external payment.
The external payment will then be marked as Reconciled and will not be available for further reconciliation.
Reconcile External Payments Automatically
Before reconciling an external payment, ensure the Reconciliation Status is marked as REAdy to reconcile .
Automatic reconciliation supports both gross and net payments.
For net payments, no funds are automatically allocated to Agent Fees. A Credit is also not created automatically, so any applicable Agent Fees will remain unpaid.
In these cases, a Credit for any outstanding Agent Fees must be created manually. Learn more here.
You can begin Auto reconciliation in two ways:
Option 1: From External Payments Search
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Locate and select the payments to reconcile.
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In the actions panel, click Reconcile > Auto Reconcile.
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The Auto Reconciliation Wizard will open.
Option 2: From External Payment Details
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Open the details page of the payment.
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In the header, click Reconcile > Auto Reconcile.
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The Auto Reconciliation Wizard will open.
Auto Reconciliation Wizard
The Auto Reconciliation Wizard allows you to automatically reconcile selected external payments based on your system configuration.
Receipts Details
As this process creates receipts to allocate payments, additional receipt details are required. These details will be applied to the receipts created during reconciliation.
By default, receipt details are taken from each payment record. However, you can override these values and enter the same receipt details to be applied to all receipts created during the reconciliation process.
Tip
Configure default options for External Payments so they are pre-selected when creating or importing external payments.
Allow Overpayments
When enabled, payments can exceed the total outstanding balance of the invoices. Any excess is recorded as an overpayment and included in the last receipt created during allocation.
When disabled, if the payment exceeds the total outstanding balance, the reconciliation will fail.
Start Reconciliation
Once you proceed, the auto-reconciliation process will begin. The behaviour depends on how many payments are selected:
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Single payment:
The reconciliation is processed immediately after submission. The result is displayed directly within the wizard, including a summary log of the reconciliation outcome. -
Multiple payments:
The reconciliation runs as a background Process. Once completed, you will receive a notification with the results.