In this menu, you get an overview of all imported financial transactions via your digital connections to your bank account(s).
If you don't have any bank accounts linked to Billit yet this menu will be empty. Please visit the tab 'Bank' in your company profile and add a bank account.
When the bank connection is active, Billit will automatically reconcile most of your invoices based on the imported bank transactions. Even when a customer used incorrect data in their payment Billit can usually link the transaction to the correct invoice or at least suggest an invoice. If in some cases this doesn't happen, you will need to process the transactions manually.
Go to the 'Bank' menu to get an overview of all transactions that were imported into Billit. If a transaction has a green check, this means it was successfully linked to an invoice. If it has a red exclamation mark, Billit couldn't find an invoice matching the transaction.
There are different possible reasons:
If a transaction cannot be linked to an invoice, you can do the following:
Click the transaction in the ‘Bank’ menu.
Open the transaction to manually link the correct invoice. Do this by clicking 'Link to transaction' in the invoice. Use the search function if you can't find the invoice in the list.
Some transactions don't have an invoice. In that case, check the box 'Processed' and add any additional information under 'Internal information'. This is the case, for example, for rental revenue for which no invoice was created.
If you need to refund an accidental double payment, it's best not to mark the transaction as 'Processed'. Instead, put the remark 'Refundable' in the field 'Internal information' and save the transaction.
Next, go to 'Bank' > 'Overview' and search for the word 'Refundable'. Set the search filter for 'Not processed' and 'Income'. You will now get an overview of the transactions you need to refund to your customers. Select the transaction and click 'Reimburse amount not assigned' at the bottom.
Next, you can generate a payment file for this reimbursement. You can import the file in your banking software. That way, you don't need to copy data yourself and you reduce the chance of errors during reimbursement.
After the payment this transaction will also appear in your transaction overview in the 'Bank' menu. Don't forget to manually mark this transaction as 'processed'. You can put a remark in the info field to indicate that this is a reimbursement.
You can now mark the original transaction as 'Processed', because you made the reimbursement and don't need to link it to a transaction. To make sure you know which transactions were reimbursed, you can also add the remark 'Paid' in the info field of the original transaction. That way, you know for certain you executed this reimbursement.
If your customer overpaid and you only need to reimburse part of the transaction, you can link the invoice to the transaction. The amount overpaid will be shown as 'amount to be assigned'. Next, click on 'Reimburse amount not assigned' and follow the steps above to to reimburse the amount to your customer.
If your customer paid an invoice in cash there is of course no transaction to match. In that case, go to 'Income' > 'Overview' and select the invoice. Now check the box next to 'Paid'. Fill in the date and payment mode and click 'Save'. The invoice will now be shown as paid in the overview and does not need to be linked to a transaction anymore.
