Using Reconciliation Suggestions
When reconciling invoices, Agicap provides suggestions based on matching criteria:
Exact Amount Matches: If the amount of the invoice and a paid transaction are exactly equal, you'll find these transactions in the Suggested Transactions box.
Searching for Transactions: If no suggestions appear, or if you want to reconcile with transactions of different amounts, click on Search for Transactions to find and select the appropriate paid transactions.
Sync with Cashflow: When you reconcile an invoice, the corresponding bank transaction(s) are tagged as Reconciled in your cash flow, maintaining consistency across your accounts.
How to Manually Reconcile an Invoice
If suitable suggestions aren't available, or you prefer to select transactions yourself, you can manually reconcile an invoice:
Access the Invoice: Go to the Client Invoices section then in the Reconciliation
Click on the invoice
Search for Transactions: Click on Search for Transactions to browse all available paid transactions.
Select Transactions: Choose the transaction(s) that correspond to your invoice. You can select multiple transactions if needed.
Confirm Reconciliation: Click Confirm to reconcile the invoice with the selected transactions. The invoice will now be marked as Paid.
💡 Tip: You can reconcile an invoice even if the transaction amounts don't match exactly. This is useful for accommodating bank fees or currency differences.
Reconciliation Scenarios
Partial Reconciliation: If only part of the invoice amount has been paid, reconcile the corresponding transaction(s). The invoice will be marked as Partially Paid until the full amount is reconciled.
Multiple Invoices with One Transaction: If you have multiple invoices that together equal the amount of one transaction, you can reconcile them together.
Example: Invoice A ($1,000) and Invoice B ($2,000) can be reconciled with a single paid transaction of $3,000.
💡 Tips
Finding Transactions: If you can't find a transaction, ensure it's a synchronized bank transaction. Imported, split or manually created transactions won't appear in the reconciliation module.
Reconcile with Higher Amounts: You can reconcile an invoice with a transaction amount that is higher than the invoice amount, accommodating scenarios like bank fees.
Currency Considerations:
A single invoice can be reconciled with multiple transactions in the same currency or one transaction in a different currency.
Multiple invoices can be reconciled with a single transaction only if they are all in the same currency and the total amounts match exactly.
Q&A ❓
Why can't I find certain bank transactions when reconciling?
Only synchronized bank transactions are available for reconciliation. Imported, manually created, or split transactions, as well as transactions from merged accounts, won't appear. Additionally, transactions already reconciled with another invoice aren't available.
How do I reconcile multiple invoices with one transaction?
Select all invoices whose total amount equals the transaction amount. Then, proceed to reconcile them together with that transaction.
Can I reconcile an invoice with a transaction of a higher amount?
Yes, reconciling with a higher transaction amount is possible and useful for covering cases like bank fees or currency fluctuations. The invoice will be considered fully reconciled.
What about reconciling in different currencies?
You can't reconcile a single invoice with a transaction in a different currency. However, when reconciling multiple invoices, both the invoices and the transaction must be in the same currency, and the total amounts must match exactly.