Payment transactions are individual entries recorded in a payment file and processed with the Payment Matching application.
Payment Transaction Processing
When Gotransverse uploads and validates a payment file, it applies preconfigured rules to each entry to determine what type of transaction it is. It separates transactions into these categories:
- Accounts Receivable (AR) Transactions include payments and payment cancellations. Payments are transactions that track money that the customer pays for a service. Payment cancellations are transactions that track refunds or cancellations of payments.
- Non-Accounts Receivable (Non-AR) Transactions are non-payments that result in journal entries in a general ledger. Examples include deposits, interest, bank charges, service fees, and transfers.
- Unknown Transactions are any transactions that Gotransverse can't identify through preconfigured rules.
Ignored Transactions are transactions that you expect and acknowledge as coming in from the bank statement file, but that you don’t want to be processed into Gotransverse. Gotransverse doesn’t process Ignored Transactions, but instead categorizes them separately for visibility.
Gotransverse automatically matches transactions whose type can be determined to specific invoices or payments in billing accounts. When automatic matching is complete, you have the option to manually match or edit transactions to ensure that they point to the correct billing account and invoice or payment. You submit a successfully-matched individual transaction to post it and record it in the general ledger. Submitting a payment prompts Gotransverse to apply the payment to open invoices and close paid invoices. Submitting a payment cancellation prompts Gotransverse to cancel the payment and reopen associated invoices. Submitting a Non-AR transaction posts GL entries.
Note: You can submit a payment transaction individually or submit multiple payment transactions at one time by submitting the entire payment file. See Payment Files for more information.
See the following table for more information about payment transaction status.
|Unknown||Gotransverse has not determined the transaction type.|
|Ready for Processing||The Automatic matching process is complete, and this transaction is ready to submit.|
|On Hold||Gotransverse ignores this transaction when you submit a payment file.|
|Processing||Transaction is posting to Gotransverse.|
|Completed||Transaction has posted successfully to Gotransverse.|
|Erred||Transaction has been submitted but is not posted to Gotransverse.|
Viewing Payment Transactions
You can view transactions organized by category or associated with a specific payment file. Filters are provided to help you find transactions quickly.
On the Payment Transaction detail page, you can view Payment Information, including the transaction ID, payment file name, billing account name and number, currency, payment date, and bank account name and number. You can also view Payment Summary information that includes the payment amount and currency.
- Select Payment Matching from the Gotransverse action menu , then click Payment Transactions in the left pane.
Note: You can manage the number of columns by using the Columns button. For AR transactions, you can display mapped tags from the payment file as columns in the table.
- Select a transaction to view the Payment Transaction detail page, including the following detail tabs:
- Data Mapping—Displays any data mappings for the transaction, including the path to the tag in the payment file, the value of the tag, and the custom field to which the tag is mapped. When payment matching transactions are posted, Gotransverse extracts tag values from the payment file and posts them to mapped payment method custom fields. You can use this information to look up specific bank-processed payments when you perform reconciliations or investigate issues. This data is important for auditing purposes as well. You can add data mappings when you create or edit transaction types
- Source—Displays the payment file XML source code for the transaction.
- History—Lists all changes to the transaction.
- To view transactions associated with a specific payment file, click Payment Files in the left pane, then select a payment file. The Payment Transactions page shows transactions associated with the file.
Filtering Payment Transactions
On the Payment Transactions page, you can filter visible transactions by entering information or selecting from available values in the following fields. Available filtering options differ depending on transaction type.
|File Name||Enter a file name.|
|Type||Select a transaction type, such as Cash In or Cash Out.|
|Billing Account||Select a billing account name, billing account number, invoice number, or payment ID.|
|Transaction Status||Select from available status options.|
|From Amount||Enter the lowest transaction amount you want to see.|
|To Amountt||Enter the highest transaction amount you want to see.|
|From Transaction Date||Select a beginning date using the calendar. The date format is DD/MM/YYYY.|
|To Transaction Date||Select an end date using the calendar. The date format is DD/MM/YYYY.|
To remove a filter you no longer need, click the close icon for the filter or for a specific filter field. For file name, amount, and date filters, delete the value from the filter field.
Once Gotransverse has automatically matched transactions to billing accounts, any payment transactions that aren't matched automatically are assigned to a holding account. At this point, you can manually edit transactions.
You may want to manually edit an AR transaction (payment) for the following reasons:
- You want to match the transaction with the appropriate billing account instead of the holding account.
- The transaction was matched with the wrong billing account.
- The transaction is in a currency other than the currency associated with the billing account and you want to override the conversion rate.
- You want to apply a payment to multiple invoices.
- You want to change the value of a payment file tag mapped to a payment method custom field. For example, you want to remove special characters before data is transferred to your ERP system.
Note: To update the tags or fields that are mapped, you must edit the transaction type.
You can only edit a transaction if it has not yet posted to Gotransverse.
Note: You can change a transaction's identified type by selecting Move Transaction from the Actions menu. This will move a transaction from AR to Non-AR and vice versa.
- Select Payment Matching from the Gotransverse action menu , then click Payment Transactions in the left pane. The Payment Transactions page displays a list of transactions organized by category.
- Under Actions, click the ellipsis button next to the transaction you want to edit, then select Edit Payment.
- In the Edit Payment window, review the information in the Description field to determine the billing account that the payment transaction should be associated with.
- In the Billing Account field, enter a billing account name, billing account number, invoice number, or payment ID to filter and then select a billing account to associate with the transaction.
- For a payment - if there are open invoices on the billing account, select the invoice or invoices that the payment should be applied to.
For a payment cancellation - select the payment that the payment cancellation should cancel.
- For transactions in a currency different than the currency associated with the billing account, you can override the conversion rate by entering a new value into the Conversion Rate field. The converted amount adjusts accordingly. You can also edit the Converted Amount, and the conversion rate adjusts.
- In the Data Mapping section, enter updated values for mapped payment file tags as needed.
This allows you to clean up data from the payment file. For example, you may want to remove special characters before data is transferred to your ERP system.
- Click Save.
The transaction is now edited, matched with a billing account, and ready for you to submit it to Gotransverse.
Posting an AR transaction prompts Gotransverse to either apply a payment to open invoices and close paid invoices or cancel a payment and reopen associated invoices. Posting a Non-AR transaction prompts Gotransverse to post the transaction in a holding account. All transaction posting creates journal entries in the general ledger.
Note: You can't submit a transaction with a transaction status of On Hold.
- If the bill cycle associated with the account is running or is locked because it needs approval
- If the payment date on a payment transaction is backdated into a closed bill cycle period
To post an individual transaction, do the following:
- In the Payment Transactions module of the Payment Matching app, find the transaction you want to post and click the (ellipsis) in the Actions column.
- In the Actions menu that appears, click Post Transaction or Post Non-Payment depending on which type of transaction you are posting.
- In the confirmation window that appears, enter the requested information and click Yes.
If the transaction processes successfully, the transaction status changes to Completed. If the transaction doesn't process successfully, the transaction status changes to Erred.
You can move a completed Cash In AR transaction (payment) from one billing account to another. You may want to move a completed payment if it posted to a holding account and you later need to move it to the appropriate billing account. You may also want to move a completed payment if it posted to an incorrect billing account and invoice.
To move a transaction that has already posted to a billing account, do the following:
- In the Payment Transactions module of the Payment Matching app, find the transaction you want to move and click the (ellipsis) in the Actions column.
- In the Actions menu that appears, click Move Payment.
- In the Move Payment window that appears, in the Billing Account field, enter a billing account name or number to filter and then select a billing account to associate with the transaction.
- Click Submit.
The payment is now posted to the specified billing account, and the payment is canceled in the previously associated billing account. If the canceled payment was previously applied to an invoice, that payment becomes unapplied from the invoice, which reopens the invoice.
If you are not sure whether a transaction is matched to the correct billing account or don't want to post a transaction currently, you can mark it as On Hold. When you submit a payment file, Gotransverse does not process any transactions marked as On Hold.
To mark a transaction as On Hold, do the following:
- In the Payment Transactions module of the Payment Matching app, find the transaction you want to place on hold and click the (ellipsis) in the Actions column.
- In the window that appears, select On Hold
- Click Save.
The transaction status changes to On Hold. At a later time when you a ready to submit the transaction, you can deselect On Hold to change the status to Ready for Processing.
Note: You can only mark transactions as On Hold that have a initial status of Ready for Processing.
When Gotransverse performs automatic matching of transactions in a payment file, any transaction whose type can't be identified appears in the Unknown Transactions panel.
To identify the transaction type and move the transaction to either a holding account or the appropriate billing account, do the following:
- In the Payment Transactions module of the Payment Matching app, navigate to the Unknown Payment Transactions panel.
- Find the transaction you want to move and click the (ellipsis) in the Actions column.
- In the Actions menu that appears, select Move Transaction.
- In the Move Payment window that appears, select a transaction type. Click Submit.
The transaction appears in the AR Transactions or Non-AR Transactions panels.