Background:


Parakeet automates the reconciliation of inward BPAY receipts based on the:

  • For NAB: BRF (BPAY remittance file) or 
  • For CBA: CSV file provided by the BPAY provider.


Purpose:


This document outlines how to reconcile invoices that are 'auto-matched' by Parakeet


For transactions that are un-reconciled, please refer to process here.

Auto Reconciliation Steps by Parakeet:


Parakeet


  • Parakeet receives the BRF/CSV file from you / BPAY Provider
  • Parakeet translates the BRF/CSV file and allocates the BPAY receipts to the customer's outstanding invoices
  • Parakeet marks the BPAY receipt to the appropriate invoices in Xero
  • Parakeet marks the invoice as paid in Xero
  • Parakeet allocates a Payment reference to the invoice
  • Invoice marked as "paid" and allocate the invoice to the pre-agreed bank account in Xero
  • Email is sent, summarising the payments that has been reconciled (screen shot)



  • Parakeet attaches the BRF/CSV as an attachment to the invoice within Xero





  • The Payment reference is recorded in the format of: "CRN | Payment Reference from Payer Bank"




Your Action: Bank statement Reconciliation


CBA / NAB - For Batch BPAY Credits 


  • When the Batch BPAY deposit is received from your BPAY provider, go tor the 'Reconcile' tab in Xero
  • Click "Transfer" and select Parakeet AR FINAL Clearing Account.
  • Click OK and the invoice is reconciled



  • Optional Step - (Recommended)
    • Go into the Parakeet AR FINAL Clearing account.
    • Mark the transfer as ‘reconciled’ within the Parakeet AR Final Clearing Account by clicking into the options and ‘Mark as reconciled’.



  • Note: Parakeet record paid invoices against the Parakeet AR INTERIM Clearing Account and then automatically transfers the bulk amount received to the Parakeet AR FINAL Clearing Account.  



Others - For Individual BPAY credits - (e.g. Macquarie/ANZ/WBC)


  • When the individual BPAY deposit is received from the BPAY provider, go tor the 'Reconcile' tab in Xero
  • Xero will provide the best match based using the  information provided by Parakeet (e.g. CRN | Payment Reference)
  • Click OK and the invoice is reconciled
  • (Option: User can also create 'bank rules' in Xero to automate some of these task)