How to reconcile a Wise-Pay Clearing Account with no Pre-Payments.The following steps will walk to you through reconciling a Wise-Pay Clearing Account with no prepayments.
1. Payments will be considered paid at the point where a transaction has gone through in Wise-Pay.
Wise-Pay will automatically receive a payment against the Invoice in Xero.
If this was manually processed the transaction will look like this:
The payment will then show in the Wise-Pay Clearing Account (these funds have been paid, but not received).
2. IntegraPay will forward funds as a batch amount and this will appear in the Bank Statement
Locate the IntegraPay deposit - and create a transaction to allocate these funds to the Wise-Pay Clearing Account
This should match the payments made from the Wise-Pay Clearing Account, resulting in a $0.00 balance
If the balance is not $0.00 then:
1. Timing - The transaction missed the daily cut off and will be received tomorrow
2. PrePayment - The prepayment has been received and the funds have not been allocated to the payment.