You utilise Enrolmy's OSCAR Subsidy Reconciiation Process & integrate with Xero, and need to know how to reconcile WINZ Payments to the WINZ Suspense account
This document assumes you know the following:
You understand how to utilise Enrolmys OSCAR Reconciliation Process
You have completed your attendance, subsidies and invoice reconciliation process.
You understand basic accounting principles
You have read and understood Understand WINZ Credit Notes
Identify WINZ Payments In Xero
WINZ payments will display in your Xero Bank Reconciliation section. These payments can be recognised as a:
How To Reconcile WINZ Payments Inside Xero
Remember, WINZ Payments have already been reconciled against customer invoices inside Enrolmy as a WINZ Credit Note. Therefore, you do not need to match the WINZ Payment against the customer's invoice inside Xero. Instead, you should code the payment to the EMY-WINZ- Enrolmy WINZ payment Suspense A/c.
1. Within the bank reconciliations section, against your received WINZ Payment you should use the following reconciliation references
a. WHO: Work and Income
b. WHAT: EMY-WINZ- Enrolmy WINZ Payment Suspense A/c
c. WHY: (Insert Statement Week Date)
Awesome! You now know how to reconcile WINZ payments inside Xero!