Converting a payment processor into a payment processor account
For payment processors that are supported by ExpensePlus, this help guide article provides an outline of the two options for reconciling payment processor payouts. For these payment processors, you have the option either to reconcile payouts manually, or to upload and reconcile payment processor transactions within ExpensePlus, which is often far more efficient
This article also covers how to update payment processors to payment processor accounts, if this is needed.
- You'll find a list here of the payment processors supported by ExpensePlus.
- For payment processors not supported by ExpensePlus, see this separate Help Guide article.
In this article:
Reconciling transactions where the payment processor is supported by ExpensePlus
Converting a payment processor into a payment processor account
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 received from the payment processor that appear on your main 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 above), but want 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 'convert to payment processor account' button to the right of the payment processor in question (highlighted below).
If there is a 'convert to payment processor account' button, simply click this and then confirm this choice within the pop-up that appears.
The payment processor account 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.