Move a scheduled payment through its action result and reconcile the actual bank evidence.
Treasury Analyst records the direction, amount, date and method. Link the payment to the intended bill or invoice and check the current outstanding balance. Keep it Scheduled while the release details are reviewed under the agreed authority.
Treasury Analyst invokes the payment release action for the scheduled record. The action records its receipt and changes the payment to Released. Inspect the result and reference before passing the work to the bank procedure. Preserve a failed result for investigation.
Treasury Analyst compares the payment with the bank evidence and records the bank reference. Investigate an unmatched amount, missing movement or unfamiliar reference. Mark the payment Reconciled only after the comparison supports that result.
AP Specialist reviews the linked bill's amount paid, or AR Specialist reviews the invoice's amount received. Compare the remaining balance with the payment evidence. Keep partial amounts open for follow-up and explain any difference before marking a document Paid.
Treasury Analyst keeps the supporting statement or remittance evidence with the related record. Controller reviews unresolved items during the period review and can trace a release attempt separately from its bank outcome.
And how to keep it from happening.
Start free, then use Proto to change fields, steps and approvals before your team goes live.