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Grouping installments for batch reconciliation

With FinDock you create a group of installments that you expect to be paid in a batched transaction. For instance, you may have a group of checks with a specific identifier that were sent to your bank and will be booked to your account in a single lump-sum payment.

Creating a group of installments allows FinDock to automatically match the lump-sum transaction from your bank statement file to all installments in the group and mark them as collected.

Prepare a PaymentHub file record

The method to group these installments together is by connecting them all to a PaymentHub File record.

To create the file record:

  1. Open the Salesforce App Launcher.
  2. Search for “PaymentHub Files” and click on the search result.
  3. On the next page, click New to create a new PaymentHub File record.
  4. For Source and Filename of the new record, you can enter any value. Source could be Chatter, for example. Filename should be a descriptive name so the record is easy to recognize.
  5. For Group Identifier, enter the identifier as reported by the bank back to you for reconciliation. Usually the identifier is a numerical value.
  6. Click Save to store the file record.

Creating your installments

You can create new installments manually or automatically through a source such as FinDock for NPSP. In this example, we use FinDock for NPSP. However, the process is exactly the same for any other source. To create batch installments:

  1. Creating a new donation/opportunity on the contact for the incoming payment, fill out the fields as you normally would, but leave FinDock fields (Payment Method, Processor, etc.) blank.
  2. Save the donation record and then find the related installments list on the opportunity record.
  3. Edit the installment and link the PaymentHub file record you created earlier.
  4. Click Save.
  5. Repeat for each installment you wish to include in the batch.

When you have added all the installments, FinDock automatically matches them when the bank statement file that includes the lump-sum payment is uploaded and processed.