Payment reconciliation is a critical aspect of financial management, ensuring that an organization’s financial records accurately reflect the payments it receives. TRESIO simplifies and accelerates payment reconciliation, offering efficiency, timeliness, and accuracy in financial management. With the ability to manage payments up to yesterday and automate the loading of new payment events, TRESIO empowers organizations to maintain a strong financial position, comply with regulations, and make data-driven decisions for long-term success.
How to read your reconciliation data
TRESIO’s reconciliation tool lets you track your unpaid events by working like a checklist; enabling you to go through and mark off any outstanding payments to ensure they stay on your radar. The reconciliation screen enables automated collection of payments sourced from the HR Planning, Planning Data and Subscriptions. All payments are initially loaded as ‘Unpaid’, and users have the flexibility to mark them as ‘Paid’ or ‘Partially paid,’ allowing for real-time financial insights into their organization. The system only loads new payment events daily and does not update previously loaded payments.
The Reconciliation screen is not displayed in the left-side menu by default, and you will need to ‘include’ it in the menu from the ‘DATA’ screen.
Please note that if the ‘due date’ of a payment is modified after it has been loaded for reconciliation, and the updated date falls outside the range of loaded payments (into the future), the system will display both payments: the original payment with the initial due date and the new payment with the updated due date.
What the Reconciliation screen shows:
- Company
- Name – sourced payment name
- Event date – payment event due date
- Planned Amount – payment event amount
- Paid Amount – amount received toward the Planned amount
- Currency – payment currency
- Category – financial inflow/outflow category that the payment is mapped to
- Source – payment source: HR Planning, Planning Data, and Subscriptions
- Description – shows payment start and end date; payment periodicity; user’s reconciliation actions history
- Comment – user’s comment
- Status – Paid, Partially paid, Not paid – status set by user’s action
- Action – user can mark a payment as Paid, Partially paid, Not paid
In instances whereby a Parent company is associated with a Child company, users will be able to see the Child company’s payments if the ‘Show subsidiary’ option is enabled on the ‘Liquidity Forecast’ screen.
You have the option to copy, print, and export your payment details to PDF or Excel using the corresponding buttons.
How to activate the reconciliation
The Reconciliation module is available for SME, SME PLUS, ENTERPRISE payment plans, and not available for STARTER or DEMO. If you would like to upgrade your plan, please use the ‘Update Package’ option in your user profile settings at the top right corner of your screen.
Once the reconciliation screen is available you can set it to collect payments at the company level or for all companies.
To collect payments for a specific company, choose a company from the Companies list at the top of the screen and then use the reconciliation screen ‘Settings’ option to customize how payment events should be collected for the selected company.
To collect payments for all companies, click on the button ‘Activate payment event collection for all companies’ and then set up the ‘Settings’ that will be applied for all companies.
How to use Settings
Reconciliation screen settings enable users to choose from which source the payments events should be collected from. When the ‘Planning Data’ option is selected, it additionally provides the user with the choice to retrieve payments for a specific scenario from a list of available scenarios.
What happens if a payment’s due date is missed:
Should you come across a payment that hasn’t been settled during your payment review, for example a payment date postponed by 10 days, you can address it in two ways:
- If you don’t require the Forecast to reflect this data change and are comfortable marking the payment as ‘Paid’ after 10 days, you can directly update its ‘Event date’ to the new date in the reconciliation screen. Once the payment is made, you can then mark it as ‘Paid’ in the Reconciliation screen.
- If you want the Forecast screen to capture the unpaid event, the best approach is to mark it as ‘Not paid’ and create a new Planning Data element for this payment with the updated payment date. The Reconciliation screen will load the payment the day after its new due date is reached, without creating a duplicate of the original payment, as in this case both payments will have different due dates.
How to use reconciliation view
The reconciliation screen shows ‘Only unpaid’ and ‘Show all data view’ showing by default.
You can also use system filters or create your own view.
To create a new view click on ‘+Add new view’ and give your new view a unique name. Tick the ‘Visibility’ checkboxes to include those columns in the view as required, and further refine the results displayed in each active column by adding customised filters
To duplicate or amend a view, select the desired view, then click on the filter button next to the list of views. Set up the list of fields and filters you would like to see and use the ‘Duplicate’ button to duplicate a view, or the ‘Apply’ button to save changes to the existing user created view. Ensure you provide your duplicated view with a unique name to distinguish it within the list of available views.
To remove a view select a user created view, click on the filter button, then click on the ‘Remove’ button. Please note that system views cannot be removed.
