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6. Reconciliation

The reconciliation module and what it is for

The Captio reconciliation module is used to automate the process (necessary at the accounting level) of linking every payment made with a business card to an expense filed in a report by a user.

Admin-level tasks

First of all, keep in mind that this module requires some previous integration work; either through a connector or by uploading the files to an SFTP (if you have questions, please contact us) 

Once uploaded to Captio, these transactions will be automatically reconciled with the non-reimbursable expenses reported by users (reported tickets) that have been paid with a business card.

What forms of payment can be reconciled?

A form of payment can be reconciled regardless of whether it is refundable or not. The first case is useful for those corporate cards against an employee account that the company wants to reconcile but these are reimbursable forms of payment.

Captio performs automatic reconciliation taking into account several factors

Non-reimbursable or reimbursable expenses

The user reporting the expenses, the form of payment, date, and amount are looked at.

Payments

The cardholder, date and amount are verified.

How are costs sent to Captio for automatic reconciliation?

First of all, remember that when contracting the conciliation module, you had to give us information about what banks you use and what type of file those entities use. With this information, and the identification number that you use for your users (company card, registration and others... if you like, reread this user configuration information) we will be ready to start automatic reconciliation.

Reconciliation.png

Once the uploading of the file has been completed, the file's movements will be shown on the reconciliation screen, where you will see:

  • The user to whom the transaction corresponds
  • The date
  • The amount of the payment in the original currency
  • The amount of the payment in the environment's currency
  • The supplier
  • The "Reconciled" or "Unreconciled" status 

In the last column you will be able to run some additional tasks, which will depend on the modules that you have contracted:

  • If the expense is not reconciled, you can create an advance (if you have a cash withdrawal using a business card, for example) or hide it.
  • If the expense is reconciled, you will be able to see the related (expense) receipt.
  • Only advances can be created from the movements of non-refundable forms of payment.

Important note: The automatic reconciliation process is only carried out when a transaction and an expense are found that have exactly the same information (date, amount). If there are differences, for security reasons, it will be necessary to carry out manual reconciliation. 

These cases will be marked as pending reconciliations, which must be completed either by the user who reported the expense, or by his supervisor, from the Reports section. Manually reconciled expenses will be marked in the corresponding reports, where the supervisor will be able to confirm that the reconciliation is correct.

Can I create payment methods with reconciliation manually?

From the payment methods section you can specify which of these new methods you want to be reconcilable or not:

Reconciliation2.png

 

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