Applies to: ConnectWise Manage, Datto Autotask PSA and QuickBooks Online
Wise-Pay prepayments occur when we receive money from a client but do not have an invoice to match the payment. In QuickBooks Online, these are referred to as Unapplied payments. Wise-Pay will automatically create an unapplied payment in QBO for the processed amount against the Bank Account for Prepayments specified in your Wise-Pay Merchant Configuration.
To identify if you have received a prepayment, you should be reviewing your settlement reports daily from Payrix.
Payrix will settle prepayments separately and you will see "PP_" in the transaction reference.
Once you have identified that you have received a prepayment, you will want to take the following steps.
- Ensure that the invoice has been created and synced from your PSA (ConnectWise or Autotask)
- In QBO, search for PP_ to locate the unapplied payment. Click to open the record.
- Using the checkboxes on the left, apply the unapplied payment to the appropriate invoice and save.
- Reconcile the prepayment against the deposit from Payrix. Navigate to the Banking menu. You should see a Match already queued up in the "For Review" screen. Confirm that you are matching the received deposit against the Prepayment and select Match.
You will NEVER apply a prepayment to an invoice from the Banking menu in QBO when Wise-Pay has processed a payment. Prepayment deposits from Merchant Provider (GPI or Ezidebit) will be reconciled against the unapplied payment directly. Bulk deposits for payments applied directly to invoices will be reconciled against the Wise-Pay Clearing account.