Converting a payment processor into a payment processor account
ExpensePlus supports multiple payment processors. This means that rather than having to manually reconcile payouts from these payment processors, you can upload and reconcile payment processor transactions within ExpensePlus which is often far more efficient.
- Find out which payment processors ExpensePlus supports here.
- Find out how to reconcile transactions for payment processors that are not supported here.
This help guide article provides an outline of the two options for reconciling payment processor payouts. You will also learn how to update payment processors to payment processor accounts if this is needed.
Reconciling transactions where the payment processor IS supported by ExpensePlus
For the payment processors supported by ExpensePlus, you have two options to reconcile transactions:
- Manual reconciliation - manually splitting payouts from the payment processor that appears on your bank statement.
- Uploading payout transactions - uploading and reconciling payout transactions.
To find detailed instructions for both of these options, simply search for your payment processor name within this help guide or find a list in this help guide article.
Converting a payment processor into a payment processor account
If you currently reconcile transactions manually (option 1), but wish to switch to uploading payout transactions (Option 2) then you may first need to convert your payment processor into a payment processor account.
To check this, go to the bank settings screen and look to see whether there is a 'covert to payment processor account' button to the right of the payment processor in question.
If there is a convert to payment account button, simply click this and then confirm this choice within the popup that appears.
The payment processor will now appear on your bank reconciliation screen, and you will be able to upload and reconcile payment processor payouts using the detailed guidance in our help guide for each payment processor.
To better understand the Bank Reconciliation functionality, please watch the module overview video here.