Payment Reconciliation Process

Systematic reconciliation of payments to ensure accurate financial records

Objective

Match payments with invoices, identify discrepancies, and maintain accurate financial records

Participants (4 roles)

accountingClerk: Accounting Clerk
accountingManager: Accounting Manager
financeController: Finance Controller
vendorRelations: Vendor Relations

Input

Bank statements, payment records, and invoices for reconciliation

Output

Reconciled payments with resolved discrepancies and updated records

Process Flow

100%
flowchart LR
    node0["Gather Reconciliation Documents"]
    node1["Match Payments to Invoices"]
    node2["Investigate Discrepancies"]
    node3["Resolve and Make Adjustments"]
    node4["Final Approval"]

    node0 --> node1
    node1 --> node2
    node2 --> node3
    node3 --> node4

    classDef default fill:#1e293b,stroke:#3b82f6,stroke-width:2px,color:#e0e7ff,padding:10px

Performance Metrics

99.8%

reconciliationAccuracy

2 days

averageResolutionTime

3%

discrepancyRate

5 days

monthlyReconciliationTime

Stages Overview

100%
PROPERTIES
STAGE 1
Gather Reconciliation Documents
STAGE 2
Match Payments to Invoices
STAGE 3
Investigate Discrepancies
STAGE 4
Resolve and Make Adjustments
STAGE 5
Final Approval
Stage Owners
Accounting Clerk
Accounting Clerk
Accounting Clerk
Accounting Manager
Finance Controller
Stage Workers
Accounting Manager
Accounting Manager
Vendor Relations
Accounting Manager
Accounting Clerk
Finance Controller
Accounting Manager
Duration
4 hours
1 day
1 day
4 hours
2 hours
Output Fields
• Reconciliation Period*
• Bank Statement*
• Number of Transactions*
• Matched Payments Count*
• Unmatched Payments Count*
• Total Discrepancy Amount*
• Discrepancy Types*
• Resolution Notes*
• Vendor Communications
• Adjustments Made*
• Adjustment Details
• Controller Approval*
• Reconciliation Report*
• Final Approval Status*
• Period Close Date*
To-dos
• Collect bank statements and payment records
• Gather all invoices for the period
• Prepare reconciliation workspace
• Match bank transactions to invoices
• Identify unmatched payments
• Document matching results
• Research unmatched payments
• Contact vendors for clarification
• Propose resolution for each discrepancy
• Review proposed resolutions
• Approve necessary adjustments
• Update accounting records
• Review complete reconciliation
• Approve final reconciliation report
• Sign off on period close

Automation Rules

Automation 1: Field Value Alert

If Total Discrepancy Amount greater_than, Then send notification to Finance Controller with message: "High-value discrepancies detected in reconciliation"

high

Automation 2: Stage Completion Notification

If Investigate Discrepancies is completed, Then send notification to Accounting Manager with message: "Discrepancy investigation complete - review required"

Workflow Summary

Total Stages

5

Total To-dos

15

Output Fields

15

Automations

2