Failed or returned payments in can block a period close. Record their final outcome in the Payment Issues panel on the Accounting tab of Money. A second person reviews it.
Steps
- Upload the bank's proof of the outcome to the investment's documents first.
- Go to Money, open the Accounting tab, and choose the Investment.
- In Payment Issues, find the payment and click Prepare Resolution.
- Choose the Bank Outcome Evidence document and describe What You Checked and Found.
- Click Send for Independent Review. Another team member approves it.
Good to know
- Prepare Resolution shows only for payments in with a Failed or Returned status, and only if you have Finance Preparer permission.
- Payouts and transfers still in progress or with an unknown result show Resolve in Bank Transfers (ACH). Check them on Bank Transfers (ACH) first.
- Every payment attempt must have a known final result. Reverse funds received with a matching entry, and include all offset entries for returned funds.
- If the funds came from an earlier receipt, review that receipt and every amount assigned from it.
- If you refunded the money outside Syndelo, record that recovery in a separate step. See Record a Capital Refund.
- Approval records the result so you can close. It does not change the payment's status. You still need matched bank records. See Reconcile the Bank and Close the Books.
- Prepare New Review appears when an earlier resolution exists. Close rechecks current facts, so prepare a new review if payment activity changed.
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