Paymode-X Reconciliation

This subsection includes the following topics.

Topic	Description
Import and Reconcile Paymode-X	Explains importing and reconciling Paymode-X data.
Paymode-X Accrual Accounting/Invoice Plastic	Explains ways to handle the following two situations: 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. 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.

Topic

Description

Explains importing and reconciling Paymode-X data.

Explains ways to handle the following two situations:

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.
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.