Financial - Travel Agent/Corporate Client Reconciliation

The Travel Agent/Corporate Client Reconciliation module is used for reconciling with travel agents/corporate clients.

There are two reconciliation methods:

• Standard reconciliation: This method allows you to select documents and either reconcile with an existing receipt or issue a new receipt. The receipt automatically covers all the selected documents, leaving the outstanding balance on one or more documents. You do not control the amount covered for each document

• Advanced reconciliation: This method allows you to select documents that need reconciliation, and then for each individual invoice, you can define whether it is fully paid or partially paid, and if partially paid how much is covered.

What can you do on this page?

• Search for financial documents

• Issue a statement

• Standard reconciliation:

• Reconcile invoices or statements in a single currency

• Reconcile invoices or statements in multiple currencies

• Reconcile invoices or statements using existing documents (receipt, credit note)

• Reconcile invoices between two accounts

• Advanced reconciliation

• Match paid/receipt amount per invoice

• Issue a remittance

• Issue a credit note

• Issue a tax invoice

• Edit an Agent commission invoice

When reconciling invoices or statements with the receipt that you issue, invoices can either be not covered, partially covered, or fully covered.

• A partially covered invoice is covered by a receipt with an amount that is less than the invoice amount, and needs to be covered by additional receipts.

• A fully covered invoice is covered by a receipt with an amount that is equal or greater to the invoice amount.

Receipts can partially cover, fully cover, or overcover invoices.

• A receipt that partially covers an invoice has an amount that is less than the invoice amount.

• A receipt that fully covers an invoice has an amount that is equal to the invoice amount.

• A receipt that overcovers an invoice has an amount that is greater than the invoice amount, and can be used to cover additional invoices.

• Difference between the receipt and the invoice amounts:

• To balance the difference, issue a credit or debit note.

• If the difference falls within the force match limit, invoices become fully covered. The force match limit is used for defining the percentage according to which documents in different currencies become fully covered, even though there are differences between the amount of the covering document and the amount of the covered documents.

Differences in amounts can occur as a result of exchange rate differences or when the travel agent/corporate client sends partial payment.

Click here for detailed example 1. If an invoice for 1,000 USD is reconciled with a receipt for 500 USD, in the row of the invoice, the Left to Pay displays 500, and clicking the i icon with the mouse displays a pop-up with the reference number of the covering receipt, and the amount that is left to pay, in other words, 500. In the row of the receipt, the Left to Pay column displays 0, and clicking the i icon, reveals the reference number of the invoice it covers, and the amount still available for covering other invoices, in other words, 0.

Click here for detailed example 2. If an invoice for 1,000 USD is reconciled with a receipt for 1,500 USD, in the row of the invoice, the Left to Pay displays 0, and clicking the i icon with the mouse displays a pop-up with the reference number of the covering receipt, and the amount that is left to pay, in other words, 0. In the row of the receipt the Left to Pay column displays -500, and clicking the i icon with the mouse displays a pop-up with the reference number of the invoice it covers, and the amount still available for covering other invoices, in other words -500.

Click here for detailed example 3. If you have an invoice for 1,000 USD, and receive 998 USD in payment from the corporate client (due to differences in exchange rates), when issuing the receipt, you can also issue an additional credit note to balance the invoice. Clicking on the i icon of the invoice displays a pop-up with the reference numbers and amounts of the receipt and credit note covering the invoice.

Click here for detailed example 4. The Travel agent/corporate client reconciliation force match limit is 1%. In the travel agent/corporate client account there is an invoice for 1,000 GBP. The 1,000 GBP equals 1,123.97 EUR (which you can view in the Change Rate dialog box). You received payment from the travel agent/corporate client for 1,125 EUR. As a result, in the receipt definitions page you change the receipt amount to 1,125 EUR. When issuing the receipt, the receipt will fully cover the invoice.

You can add notes to financial documents, which can be used, for example, to explain why a document is not fully covered, or how much is still owed.

You can also issue remittances for credit invoices, and credit and debit notes.