Minimum Version Required: 25.01
Pre-Conditions
You know the invoices were paid through Fintech.
You've confirmed the Fintech payment hit the bank account.
The invoices in Encompass still show an open balance.
Steps
Check Encompass Exchange Tasks:
Go to the "Exchange Tasks" table
Look for any tasks related to the "820 Remittance" and your specific Fintech Configuration(s). You might need to filter or search for these.
Check the status of these tasks. Look for any that are in a "Warning" or "Error" status.
If you find any warning or error messages, carefully read the details.
Attempt to address the warnings or errors based on the information provided. This might involve re-running a task, correcting a configuration setting, or investigating a data issue. Consult Encompass documentation or internal procedures if you're unsure how to resolve the specific warning or error.
After addressing any warnings or errors, monitor Encompass to see if the payment status of the affected invoices updates.
If the exchange tasks are running without errors or if addressing the errors doesn't resolve the issue, proceed to the next step.
Try Fintech First (If Exchange Tasks are clear):
Contact Fintech support and tell them about the problem.
Ask them to resend the 820 Remittance file just for those invoices.
Ask them when they expect to resend the file.
Give Fintech the invoice numbers and proof that we got the payment.
Keep an eye on Encompass to see if the payment status changes after Fintech says they've resent the file.
If it's taking too long or Fintech can't resend it, go to the next steps.
Fix it with Credit Invoices in Encompass (If Fintech can't help quickly):
Create a new Loadsheet in Encompass. Make sure it starts in a "New" status.
Click "Add Invoice" in the new loadsheet.
Create a new invoice for the customer who has the unpaid invoice.
In this new invoice, put in the amount you received from Fintech in the received field. (Please note if you are receiving money from a third party, this should be a positive amount. If you are paying a third party, this should be a negative.)
For "Payment Type," pick the same Accounts Receivable (AR) account we use for Fintech payments.
Save the invoice.
Do this for each invoice that's showing as unpaid.
Go back into the credit invoice you just made.
Click the "Apply Payment" button.
On the right side of the screen, find and click on the original, unpaid invoice.
Save. This will make the balance on the original invoice zero.
Do this for all the credit invoices and their matching unpaid invoices.
Once you've done this for all the invoices, Load the Load Sheet.
Return and Balance the loadsheet to make sure everything is correct.
Apply this loadsheet to the bank deposit where the Fintech payment went.
Note: If that bank deposit is already finalized, create a new deposit and make a note of which deposit the payment should have been linked to for your records.
If it's still not fixed, contact Encompass Support and give them this information:
Verification that the Fintech payment was received and the date.
The numbers of the invoices that are wrong.
If you tried contacting Fintech and what happened.
Any steps taken to attempt to correct the data manaully
Any error messages or anything unexpected you saw in Encompass.
Fields And Definitions
Fintech: The outside company we use to process payments.
820 Remittance File: An electronic file Fintech sends us that says which invoices they paid.
Exchange Task: An automatic process in Encompass that talks to outside systems like Fintech.
Exchange Configurations: The settings in Encompass that tell it how to talk to outside systems/
Credit Invoice: An invoice that lowers or cancels out the amount owed on an old invoice. Here, we use it to fix the wrong balance.
Off-day: Making a loadsheet when we don't usually process them.
Deposit: A record in Encompass of money going into our bank account.
AR Account (Accounts Receivable): The accounting record of money that customers owe us.
Warning Status (Exchange Task): Indicates a potential issue with the data exchange that might need attention.
Error Status (Exchange Task): Indicates a failure in the data exchange process that needs to be resolved.
Best Practices
Regularly check the Encompass Exchange Tasks for any warnings or errors related to Fintech integrations.
Always check Encompass to make sure payments went through after Fintech confirms.
Keep good records of Fintech payment reports and the Encompass invoices they match.
If something doesn't look right, try checking Exchange Tasks first, then try to fix it with Fintech.
When you make credit invoices, double-check the customer, invoice numbers, and amounts to avoid mistakes.
Write down all the steps you take when troubleshooting in case we need to look into it more later.