How to Handle Cash and Check Payments in Your FINSYNC Profile for AP Items

FINSYNC automatically handles your AR & AP items that are processed through/by FINSYNC. However, Invoices or Bills that are paid with checks or cash outside of your FINSYNC will need to be handled manually.

If you pay a large number of bills (AP items) outside of your FINSYNC profile, you will need to do a few manual transactions to ensure that your reports and listed balance in FINSYNC remains accurate. 

Once the bill record has been created within FINSYNC you will need to follow the steps outlined below: 

1. Mouse over Payments and select Expenses. Locate the bill on your Expenses page. 

2. Once the bill has been located, mouse over the ellipses at the end of the row and select Mark Paid. 

• Optionally enter in a Check Number and indicate which bank account you want the transaction to be recorded in your FINSYNC profile (this should be the same bank account that the funds are coming out of to pay the bill). 
• When Marking items as Paid, FINSYNC will automatically create a Pending Transaction that is matched with that specific AP (accounts payable) item. 

3. FINSYNC will pick up the actual payment transaction representing the check being deposited by the Vendor. If the description of the transaction lines up relatively with that of the pending transaction that was automatically created, the system may recognize the 2 transactions representing the same Payment. In instances like this, the cleared date for the existing (pending) transaction will be updated which will effectively remove the pending icon. 

• If the system is does not recognize the newer payment transaction that was communicated from your banking register, you will have a duplicate transaction. To resolve this, simply mouse over the ellipses on the row of the new Payment transaction and select Match with Pending. The system will then recommend for you all Pending transactions in the categories of deposits or payments that can be matched with the cleared item. After the 2 items have been matched, the duplicate transaction issue will be resolved, the Bill will be marked as Paid with an accurate cleared date.