How does Ari match payments to invoices?
How does Ari match payments to invoices?
Ari uses a multi-factor matching approach:
- Customer: Must match the invoice customer
- Amount: Payment amount matches invoice total, or a partial payment is allocated
- Date: Payment date should be close to invoice due date
- Email: Payment method or notification confirms customer identity
- Reference: Invoice number in payment memo or notes
What about partial payments?
What about partial payments?
Ari can match partial payments and track them against invoices. Multiple partial payments can be applied to a single invoice.
What about overpayments?
What about overpayments?
If a payment exceeds the invoice total, Ari flags it for review. Overpayments can be applied to future invoices or refunded.
What if a customer pays with more than one payment method on the same invoice?
What if a customer pays with more than one payment method on the same invoice?
If a customer pays partly with card and partly with ACH, Ari can match both payments to the invoice.
How does currency conversion work for international payments?
How does currency conversion work for international payments?
For international payments, Ari uses Stripe’s conversion rates to match payments in different currencies.
Does Ari account for payment processing fees?
Does Ari account for payment processing fees?
Yes. Ari accounts for payment processing fees when matching amounts, so a payment that’s a few dollars short of the invoice total because of a processor fee still matches.
Where does the money come from?
Where does the money come from?
LedgerUp watches two sources of incoming money: paper checks, and bank transactions from your connected accounts. For each payment, Ari looks for a matching open invoice in your billing system. When it finds one, the match is recorded, and the invoice is marked paid either after you approve it or when the match is unambiguous. Anything less than certain comes to a person.All matches, pending and applied, are listed on the Reconciliations page.
A payment reached my bank but LedgerUp hasn't matched it. What do I do?
A payment reached my bank but LedgerUp hasn't matched it. What do I do?
Work through it in this order:
1
Check All Transactions
Under Reconciliations. It shows everything we’ve received from your bank. If the payment isn’t listed, we never received it and matching isn’t the issue.
2
Check the bank connection
A connection can lapse and silently stop delivering new transactions. Reconnect it from Linked Accounts.
3
Confirm the account
Money paid into a second account at the same bank won’t appear unless that account is connected too.
4
Allow for delay
Bank feeds can run behind by a day.