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Payment Difference Handling

Payment Differences may be handled directly from the bank statement. To do so, payment difference reasons must be setup.

A payment difference reason determines how the payment difference is posted in the general ledger.

1. Setting up Payment Difference Handling

  1. Enable the feature under Setup > Company > General Preferences > Custom Preferences > ZoneReconcile
  2. Go to Setup > ZoneReconcile Setup > Setup Payment Diff Reasons
  3. Some Examples:

process_bank_transactions_payment_difference_1.png

 

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process_bank_transactions_payment_difference_5.png

 

process_bank_transactions_payment_difference_2.png

 

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2. Using Payment Difference Handling

  1. Open the popup on a bank statement line.
  2. Select a transaction. Make sure that the remaining amount of the transaction is more than the payment on the bank. This is an underpayment.
    • Select a payment difference reason that is applicable to underpayments (if you select a reason applicable to overpayments you will get an alert).
    • The remaining amount of the transaction is automatically filled in. NOTE: for foreign currency transactions the remaining amount may not be correct (for example the payment difference shows 3.85 instead of 5). The user has to correct this manually before proceeding.
  3. Start again and select a transaction that has an amount remaining less then the payment on the bank. This is an overpayment.
    • Select a payment difference reason that is applicable to overpayments (if you select a reason applicable to underpayments you will get an alert).
    • The paid amount not yet reconciled is automatically filled in.
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