Importing and Matching Payments into OctopusPro using .CSV
Importing payments and reconciling them with invoices can be a meticulous task. OctopusPro provides a powerful, automated solution to make this process seamless, allowing you to integrate payments from various sources and intelligently matching these with your existing invoices. This guide will walk you through this intricate process, ensuring accuracy and efficiency in your financial records.
Why Automated Matching Matters:
Reconciling payments with corresponding invoices is vital for accurate financial records. OctopusPro’s intelligent matching function uses specific criteria to auto-suggest matches, but it always prioritizes user validation, ensuring you remain in control.
Benefits:
- Guided Automation: System-suggested matches streamline reconciliation.
- Validation Control: Matches are suggestions until approved, reducing errors.
- Enhanced Visibility: Matching scores and detailed breakdowns provide clarity on matches.
Preparing Your .CSV File:
Ensure your .CSV file is aptly structured.
- Headers: Include headers such as Date, Amount, Transaction Type, Invoice Number, Description, etc.
- Format: Consistent data formatting, especially for date and currency.
- Credit Card Details: If importing these, include necessary fields.
The Import and Intelligent Matching Process:
a. Accessing the Import Option:
- Log in to OctopusPro.
- Navigate to ‘Financial’ or ‘Payments’.
- Choose ‘Import Payments’.
b. Uploading the .CSV File:
- Click ‘Upload .CSV’.
- Select your file.
- Confirm.
c. Field Mapping:
- Align your .CSV columns to OctopusPro’s fields.
- Confirm the mapping.
d. Intelligent Matching:
- OctopusPro will scan and suggest matches based on criteria like Invoice Number, Date, and Amount.
- Each suggested match comes with a score and a detailed breakdown.
- If a payment corresponds with multiple invoices, you’ll have the option to select the right one.
- Review and adjust the matches as needed.
Finalizing Your Matches:
- Review: Before approving, verify the matches.
- Approval: Only matched payments you’ve approved will be finalized.
- Backups & Integrations: Keep backups and explore OctopusPro’s integrations for added efficiency.
Use Cases:
- Retail Stores: Importing payments from online platforms and reconciling with OctopusPro invoices.
- Freelancers: Integrating payments from various clients and matching them with provided services.
- Event Organizers: Collating ticket sales across platforms into one unified financial system.
To stay updated, please subscribe to our YouTube channel.