¶ Payment Reconciliation
Payment reconciliation for incoming and outgoing payments in ACCU360 ERP refers to the process of matching and comparing Financial transactions related to the incoming and outgoing payments this reconciliation is crucial for ensuring the accuracy in the financial records identified discrepancies and maintaining a clear transparent Financial picture within the organization.
¶ Comprehensive Guide to Reconciling Incoming OR Outgoing Payments in ACCU360 ERP :
An exapmle screenshot of Payment Entry without reference to the source document
Unreconciled Source Document Screenshot
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¶ Step I. Navigate to Payment Reconciliation:
- Navigate to the Accounting module and click on Banking and Payments.
- Choose the option to match payments with invoices.
Home < Accounting Module < Banking & Payments < Match Payments with Invoices
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¶ Step II Select Company and Party :
- Select your company and choose the party type here in this example “customer.”
- Then, select the party in this example “M/s Everyday Electricals”.
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¶ Step III Retrieve Unreconciled Entries:
- Click on “Get Unreconciled Entry” to retrieve both the unreconciled payment and invoice.
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¶ Step IV Match Payment with Invoice:
- Match the payment entry with the corresponding invoice by selecting them.
- Click on “Reconcile” to reconcile the payment with the invoice successfully.
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¶ Step V. Verify Reconciliation:
- Go back to the Sales Invoices list to verify that M/s Everyday Electricals is now marked as paid.
