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How does sync payments to my accounting system? How do I reconcile payments with my bank statement? shows each payment made in in your accounting software in a special account (named Money Out Clearing - this is automatically created by the sync), and shows a lump sum withdrawl for all payments made at the same time in your accounting software’s bank account. Let’s take the below scenario and follow the process:

Step  1:  You schedule 3 bills for $100 each (from different vendors) to be paid using on the same process date

  • Bills are marked as scheduled for payment in
  • syncs the 3 individual payments into an account named “ Money Out Clearing” in your accounting software. This is a temporary holding account similar to an “Undeposited Funds” account
  • Bills become paid in your accounting system

Step 2:  On the process date, processes all 3 payments

  • makes a lump sum withdrawal of $300 from your bank account
  • initiates the payments to each vendor
  • syncs a $300 entry to the Money Out Clearing Account and to your bank account in your accounting system. The clearing account will balance out to zero (3 $100 individual payments and $300 lumpsum)

Step 3: Reconciling your bank account is easy and effortless.

Your bank statement feed will have a debit for the $300 withdrawn by which will match against the $300 credit made to the bank account by the sync. You don’t have to worry about reconciling the individual bill payments! If you need to see them, you can find them in the clearing account or Funds Transfer detail report in

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