The reconciliation process is necessary when a user reporting expenses generates a new expense report, including receipts/expenses paid with the company card in this report.
Once on the main screen of the report, the user scrolls to the Non-reimbursable expenses section. In this section the receipts paid with the company card will be displayed, and for each receipt it will be indicated in the Reconciled column whether the receipt has been reconciled or not.
If the receipt has the icon in the Reconciled column, it means that it has been reconciled automatically, however if the icon appears it means that it has been reconciled manually.
A receipt is not reconciled automatically if the date and amount does not coincide with a transaction loaded in Captio. For example, the amount may be the same, but the date of the receipt and the date of the transaction may not match, because the corresponding transaction has been recorded with a one day delay after the expense.
You need to scroll to the Reconciliation section of the report, where you will have a summary of the reconciliation status of the expenses of the report. If there are unreconciled receipts, the reconciliation of the receipt must be done manually. To do this, you have the Reconciliation editor feature.
NOTE: If the system finds several payments to reconcile automatically with a single receipt, it will not reconcile them automatically in order to avoid mistakes.
By selecting the Reconciliation editor, a pop-up screen will manually reconcile those receipts listed as pending reconciliation in Captio for the report in question.
This pop-up screen is organised into two panels:
- In the left panel with Non-reimbursable expenses, the captured receipts are shown.In the top part, the receipts pending conciliation are shown, while in the bottom part are those receipts which have already been reconciled, either manually or automatically.
- In the right panel with Reconciled and unreconciled payments, the transactions loaded in Captio are shown.At the top you will see payments reconciled with the receipt that has been selected on the left side.At the bottom, Captio proposes payments to reconcile sorted in order of those that are most likely to be the right transaction.
You need to select an unreconciled expense at the top of the left panel and then the unreconciled transactions sorted in order of those most likely to be the right transaction are shown in the bottom of the right panel with Unreconciled payments. After selecting this, you can reconcile the expense through the Reconcile option indicated to the right of the amount.
After the manual reconciliation, the receipt is then shown in the Reconciled receipts section and the related payment is shown in Reconciled payments.
When all payments are already reconciled with the corresponding receipt, you can save the changes with the green Reconcile button, the reconciliation manager will be closed and the report will automatically recalculate the values of the receipts and the report based on the bank payments.
NOTE: the value of the bank transaction prevails over the value of the receipt
You can see a video explaining the entire process of reconciliation at this link.