Apply confirmed client money and reconcile invoice balances, unused cash and corrections.
Cash Specialist compares the provider event reference, received amount and client with the bank or payment evidence. Record the receipt and mark it verified only after the source result is confirmed. Retain the reference when the same provider sends another notification.
Cash Specialist selects the intended accounting document and records the applied amount and date. Check the available receipt amount and the document's invoice balance. A partial payment leaves a remainder; surplus cash waits for a separate matching decision. Use the recorded client identity to resolve an ambiguous remittance.
Cash Specialist compares confirmed receipts with applications that have not been reversed. Finance Manager compares the invoice position and accounting outcome. Inspect operation exceptions where the requested action and observed result disagree before accepting the reconciliation.
Cash Specialist records the reversal date for an application that must be unwound. Reconcile the released amount and make the correct application under the practice's review policy. Finance Manager checks any affected financial correction and preserves the original document and journal history.
And how to keep it from happening.
Start free, then use Proto to change fields, steps and approvals before your team goes live.