This is the best practice on how to reconcile payments taken via the Vital system in Xero.
Taking field payments: there are 2 ways to take payment
- Payment link
- Invoice payment via the portal or the app
Reconciling windave payments received
The Windcave payments are going into the Undeposited Funds account. These payments will not (and can not) show up on the Xero bank reconciliation pages to be matched against.
The process for the Windcave deposits received in the Bank feed, is to code it to the related Undeposited Funds account.
Best Practice: The Undeposited Funds account should be reviewed (ideally at least monthly) to ensure the account reconciles with sum of the Bank Deposits received equalling for the Windcave Payments that are in the account.
Note: since the Windcave daily cut off is set by Windcave, the Bank Deposit received from Windcave may not equal the daily payments pushed by Lightspeed into Xero if a Lightspeed payment is received after the Windcave cut off (eg. a customer pays an invoice online late at night after Windcave has already cut off payments for that day).