For the insurers that you have manual product policies for, there will be a slight difference to the insurer statement reconciliation process (Accounts Payable).

 

The process can still be completed in black, like the usual, however the + Add New Statement feature is not going to function.  This is because the statement has to be in a specific format to match items in the platform and this is not currently supported.

 

Here is what the reconciliation process will look like:

 

 

• From black, go to Reconciliations, Accounts Payable.
• Click + Reconciliation to start this process. A pop will appear, to be completed.

 

Type: Agency Bill, Credit Card Payments, Direct Debit Payments (to reconcile an insurer statement, choose Agency Bill).

Insurer: Choose the correct insurer from the dropdown.

End Date: Choose reconciliation date. This is the end date and should be identical to the end date on the statement.

Ref ID: Enter a name for the reconciliation (again using the standard naming system like ‘MMYYYY’).

 

 

• Select Save to create reconciliation. A green pop up will appear at the bottom of the screen.

 

 

     

 

• The reconciliation now appears in the Active section of the screen.  The information in the Txn Count (transaction count) column indicates how many transactions in the reconciliation period, for that insurer and up and including the date you input.
• Click Edit to open the reconciliation.
• You will now manually match transactions from the insurers statement.

 

 

• If the transaction is matched correctly to the item on your statement, you can click the green check to accept the transaction.

$0 payment change transactions can also be filtered out of the reconciliation.

 

• The other actions are Adjust and Remove:

   Select this Icon if you need to Adjust the transaction.  

  Select this Icon if you want to Remove the transaction.  This will ‘kick’ it out of this reconciliation so won’t have any action taken on it.  However, it will not delete it nor permanently remove it, it will appear on future statements until action is taken and it is reconciled or written off or adjusted (sometimes if the transaction is made near the end of the month, it wont show on the insurer statement until the following month). See Additional Information 1 at the bottom of this guide.

 

• Once you have checked all the items (reconciled), the transaction will turn green.

 

 

• The Icon, shown above on the far right of the image, can be selected to undo the reconciliation. 
• To match all transactions that are yellow click ‘Reconcile All Matched’.

 

 

• There may be other transactions that remain and will appear in white.  The reconciliation cannot be completed until all transactions have been handled (if not being paid then they are to be 'kicked' out until next statement).

 

 

• Once you have completed this process for all the transactions, the totals at the bottom of your screen will change depending on what actions have been taken.

 

 

 

• Click "Complete" to finalize this reconciliation. A green pop up confirmation will appear to confirm this is complete.

 

 

• Now that the reconciliation has been “Completed” it will move from the “Active” section to the “Completed – Not Paid” section:

 

 

• Once the physical payment has been made select $ Pay in the actions column to mark the reconciliation as Paid. A pop up will appear:

 

Payment Type: Cheque or EFT

Payment Date: Enter date payment made

Payment Ref ID: Enter reference number (Chq #, EFT confirmation #)

 

 

• Click save. The reconciliation has now been marked as Paid and has moved to the bottom section – Paid.

 

 

This is the section that the reconciliation will display in to show that it is paid.  No further action on this item is required.

 

 

 

 

 

1. ’Remove the Transaction’ icon

As mentioned earlier in the guide, using this icon will ‘kick’ the transaction out of the reconciliation that you are working on.  You can continue to complete your reconciliation of the other transactions as per the instructions above.  Here is what happens to the remainder of those removed transactions.

 

• The transaction will keep appearing during the + New Reconciliation stage until it can be reconciled. 
• As we do not upload the statement to the platform, you will have to create your own process for ensuring that items from older statements are paid - although the platform will keep them in here until they are marked as paid and ticked as reconciled.