What Is the Reconciliation Feature?
Agicap's Reconciliation feature helps you match your verified supplier invoices with the actual payments made, ensuring your cashflow reflects the most accurate information. By reconciling invoices and payments, you gain better visibility over your expenses and streamline your accounts payable process.
How to Use the Reconciliation Feature
Follow these simple steps to reconcile your supplier invoices in Agicap:
Access the Reconciliation Module: Navigate to the Reconciliation section in your Agicap account.
View Verified Invoices: You'll find a list of Verified invoices from the Supplier Invoice Management (SIM) module.
Check for Reconciliation Suggestions: Agicap automatically suggests matches between invoices and payments based on exact amount matching. A reconciliation icon 🔀 will appear next to invoices with a suggested match.
Validate Suggested Reconciliations: Click on the 🔀 icon to view the suggested match. If the suggestion is correct, you can validate it directly in the popup.
Manually Reconcile Invoices: If there is no suggestion, or if the suggested match is incorrect, you can manually select the corresponding payment transaction to reconcile with the invoice.
Tips 💡
Utilize Quick Suggestions: Look out for the 🔀 icon to quickly access and validate reconciliation suggestions, saving you valuable time.
Partial Reconciliations with Split Invoices: If you proceed with a partial reconciliation of a split invoice, the existing split will be completely deleted. A new split will be created with the amount of the partial reconciliation and marked as Paid.
Reconcile a bank transaction with an higher amount than the invoice : It is now possible to reconcile an invoice with a bank transaction whose amount is higher than the invoice (e.g., to cover the case of transactions including bank fees), or with a transaction in a different currency. In both cases, the invoice will be considered fully reconciled with this transaction.
Q&A ❓
I can’t find my invoice in Reconciliation?
In the Reconciliation module, you can find Verified invoices (in SIM) with a billing date not older than three months from the activation of the Reconciliation feature. For example, if you activated the feature on April 1, 2023, you will find all verified invoices with a billing date after January 1, 2023.
Why are manual or imported transactions not appearing in Reconciliation?
Manual transactions and transactions imported from other sources are not included in the aggregator used by the Reconciliation module. Therefore, they do not appear in the reconciliation suggestions for accounts payable.
Why don’t I find any transactions when selecting multiple invoices?
You can reconcile multiple invoices with only one paid transaction when the sum of all selected invoices' amounts is exactly the same as the paid transaction's amount. Otherwise, no transactions will be shown as suggestions or in the modal where you can search paid transactions.
The currency of the invoices and the transaction should be the same.
By efficiently reconciling your invoices and payments, you ensure your financial data is accurate, helping you make informed decisions about your business's cashflow.