Paystand's integration with Microsoft Dynamics 365 Business Central streamlines the process of managing and reconciling transactions. This ensures that your financial records remain accurate and up-to-date.
How Transfers Work
When a transfer is initiated, the system performs the following steps:
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Transaction Reconciliation: All transactions within the Business Central (BC) account are reconciled. This involves matching incoming payments to their corresponding invoices or ledger entries.
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Fund Movement: Once reconciliation is complete, the associated funds are moved from the PSCASH account to the CHECKING account. This step ensures that the PSCASH account reflects a zero balance post-transfer.
This automated process maintains the integrity of your financial data and simplifies cash management.
Understanding the PSCASH Account
The PSCASH account serves as a temporary holding account for incoming funds. Its balance represents transactions that have been received but not yet reconciled and transferred.
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New Transactions: These are recent payments that are awaiting reconciliation. They will be processed in the next scheduled transfer.
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Older Transactions: Occasionally, transactions may remain unreconciled due to past manual interventions or system issues. These are identified and addressed to ensure the PSCASH account returns to a zero balance.
Regular monitoring and reconciliation help in maintaining the accuracy of the PSCASH account.
Best Practices
- Avoid Manual Intervention: Allow the Paystand system to manage reconciliation and fund transfers automatically. Manual adjustments can delay clearing transactions and impact your account balances.
By following these practices, you can ensure that your financial data remains consistent and reliable.
For more detailed information on setting up and managing your Business Central integration with Paystand, please refer to our Guide to the Business Central Settings Form.