Paymode-X Accrual Accounting/Invoice Plastic

Paymode-X collects commissions from certain tour, cruise, and airline companies. GlobalWare Paymode-X reconciliation will reconcile tracking and invoice settlement items. For both settlement types, only the commission received amount is updated; no general ledger entries are made. This means that if you are on accrual accounting, using Paymode-X reconciliation will not offset entries made to the commissions receivable chart (usually 1512) when the invoice items are posted. You can handle this situation in the following ways:

• Use the BANK JE button to make the journal entry to account for the amount paid.

• Use Paymode-X reconciliation to reconcile settlement invoice items. In Post Deposit, use Receipt to GL to post the commission received amount to the commissions receivable chart. Use the reconciled report to assist you in determining the amount to post.

• Use settlement type Direct for these items. Direct settlement does not create a commission receivable and Paymode-X reconciliation ignores items with settlement type D. In Post Deposit, use Receipt to GL to post the commission received amount to the Direct payables chart (usually 2030). Use the unreconciled report to assist you in determining the amount to post.

• Use Paymode-X reconciliation to reconcile tracking items only (select Update Tracking Items Only when you reconcile). Items in the Paymode-X file that match GlobalWare items with settlement Invoice are listed on the Unreconciled report at "excluded" in the Status column. Use this report to assist you in reconciling these items manually.

• Use settlement type Tracking for these items. Tracking settlement does not create any general ledger entries, except sales after the commission is received. In Post Deposit, use Receipt to GL to post the commission received amount to the appropriate revenue charts. Use the reconciled report to assist you in determining the amount to post.

  Note: There is no Apollo or Sabre front-room format for storing air items with settlement type Tracking.

• Import the Paymode-X file (but do not reconcile yet). In Post Deposit, use Receipt to Invoice to apply the commission received amount to the invoice items. Use the unreconciled report to assist you in identifying the Invoice items. Then reconcile in Paymode-X reconciliation; only tracking items will be updated because the invoice settlement items are already received.

If you choose to reconcile settlement invoice items with Paymode-X, the commission amount due might not match the amount collected by Paymode-X. After reconciling, the invoice item will still be open, having some commission still due or possibly having a negative commission due, if Paymode-X collected more than you were expecting. You can handle this situation in the following ways:

• Use Paymode-X reconciliation to reconcile all items. Use the Reconciled report to identify those items where the GlobalWare amount does not equal the Paymode-X amount. Items where Paymode-X collected more than was due are noted as "OP" (overpaid) in the Status column. Edit the commission or else enter a commission-only adjustment and apply (if applicable).

• Use Paymode-X reconciliation to reconcile only those items where the net commission due on the GlobalWare item matches the amount collected by Paymode-X (select Update Only if Paid = Due when you reconcile). Items in the Paymode-X file that match GlobalWare items but the net due amount does not equal the Paymode-X amount are listed on the Unreconciled report as "excluded" in the Status column. Use this report to assist you in reconciling these items manually.

• Import the Paymode-X file (but do not reconcile yet). Use the Unreconciled report to assist you in identifying the items with settlement type Invoice. For those matching GlobalWare items whose net due amounts do not equal the Paymode-X amount, edit the commission or else enter a commission-only adjustment and apply (if applicable). Then reconcile in Paymode-X reconciliation.

For information about handling the money received from Onyx or Paymode-X, see Special Considerations - Commission Checks.