To perform the reconciliation you will first have to add a bank, card or payment gateway. If you collect the invoices through payment gateways, make the reconciliation from the statements of said gateways , since the same amount of the invoice is shown from there.
Also, remember that the account associated with the gateway will reflect the net amount (sale - commission), which is why this amount will be different from the invoice amount.
Invoices collected through gateway and with commission
To reconcile invoices collected via gateway and with commission, do the following:
From the navigation bar, go to Banks .
Click on Gateways below the summary tables.
In the upper right corner, click Go to Reconciliation .
Select the charge in the Statement .
From the section on the right, lists the invoice of the same amount.
Now, go to the bank statement and click on the deposit amount from Paypal or Stripe . Keep in mind that the gateway commission is already deducted from this amount.
From the right, click Transfer to send the move to the gateway account .
Record the commission expense through a expense ticket or invoice . For that, create a ticket or an invoice from the Expenses section and associate such movement to a bank service account.
Pay said invoice through the gateway.
Invoices collected through banks that charge for their management services
On many occasions, banks charge a commission for their payment and collection services. Therefore, it is possible that, after collecting an invoice, you receive the amount indicated on the invoice minus the commission charged by the bank.
In this case, it will be necessary for you to write down and reconcile the invoice, but also the commission charged by the bank. Thus, the accounting of your business will be consistent and the information you register in the Banks section will be a true image of your movements.
To reconcile invoices collected through banks that charge for their services and detail or not the commission, you must:
Access Banks .
Click on Add account and choose the bank.
From Banks , click on the account in which you made the payment.
Click Go to Reconciliation.
Once there, select the collection in the Statement and perform the reconciliation against the invoice. The invoice will be pending for the amount of the commission.
Record the commission expense and offset it against the outstanding portion of the invoice. To do this, remember that you have to create a gateway manually and associate an account 44 or 55 with it. Name it as Commission bridge account .
Create the expense ticket or invoice with the amount of the commission. Keep in mind that this commission is what the bank charged you.
And finally, to offset the expense invoice with the sale, you have to record a payment and a receipt in both invoices, selecting the gateway you created earlier.