Reconciling Payouts from Re-Leased Pay

  • Updated

This article will guide you through the process of reconciling payouts from Re-Leased Pay. We'll provide detailed steps to ensure you accurately reconcile your payouts, maintaining pristine financial records.

The method for reconciling payouts from Re-leased Pay varies based on your accounting platform. This article outlines two primary approaches tailored for:

  1. Customers managing Client or Trust Accounting.
  2. Users with Connected Accounts, such as Xero, QuickBooks, or Sage Intacct.


Understanding Payouts for Client/Trust Accounting

If you're utilizing Client/Trust Accounting, reconciling payouts from Re-Leased Pay is streamlined for convenience. When your payout occurs, in line with the payout schedule, it will appear as a single transaction on your bank statement.


Here's how to proceed when using Client/Trust Accounting:

  1. Import your bank statement into the relevant Re-Leased account.
  2. Automatic green matching will take place, aligning the single transaction from Re-Leased Pay with all associated paid invoices within the payout.



Reconciling Payouts for Connected Accounting

For those customers with Connected Accounts, you can still reconcile efficiently by referring to the Payout Details provided under the Payments Hub. Here are the steps to ensure accurate reconciliation:

  1. Access the Payments Hub and locate the Payout Details section.
  2. Match the amount indicated in the Payout Details with the corresponding transaction on your bank statement.
  3. Manually reconcile the bank statement transaction with the Re-Leased Pay payout entries, ensuring they reflect the respective invoices paid.

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