As a company, your dedicated accountant handles the reconciliation of your bank transactions with your supporting documents. They encode invoices on a daily basis, as well as bank statements regularly. When encoding bank statements, two scenarios are possible:
You have already sent the invoice (or we received it via Peppol): the bank transaction is directly reconciled with that invoice;
You haven't yet sent the invoice corresponding to the payment: it then appears as a "missing expense" in the application.
To resolve a missing expense, go to the Expenses tab, then Missing expenses. On the relevant payment, click the three dots — you have several options, detailed below.
1. Upload the supporting document
The supporting document will then be directly linked to this bank transaction. The transaction is resolved.
2. Private payment
You made a personal payment from the company account.
In practice, the payment is recorded as an advance made by the company on your behalf. In your accounts, this amount must be reimbursed to the company: it affects your current account.
3. Supporting document already uploaded
The supporting document was uploaded after your accountant encoded the bank transaction, or it could not be identified as linked to this payment.
Simply select the relevant supporting document from the dropdown list to link it to this transaction.
4. Direct debit
You can select this option if it is a recurring payment for which you receive no invoice but for which you have a contract or an initial document that serves as supporting evidence.
This is typically a rent payment or an insurance premium.
⚠️ You must keep the relevant contract or subscription confirmation somewhere safe. In the event of an audit, this reference document will be used to justify the recurring nature of the direct debits.
5. Other justification
You paid a professional expense but cannot find the supporting document.
In this case, you are asked to choose how to record this payment:
Non-deductible expense: this payment is recorded on your current account, like a private payment, and will need to be reimbursed to the company. This option is equivalent to selecting "Private payment".
Deductible expense: you choose to record this payment as a deductible professional expense, without a supporting document. ⚠️ In the event of a tax audit, you will need to be able to justify the expense — otherwise the cost will be disallowed and any VAT recovered will have to be repaid.
Any questions? Don't hesitate to reach out via the chat in the bottom right corner.
See you soon!