When you receive a payment from Pinch, we automatically add the necessary steps so that you can very easily reconcile your accounting system with what we deposited into your bank account. Sometimes this can stop working or reconciles to the wrong place. Below are some suggestions to health check the reconciliation process:
Is the sync between your accounting system and Pinch broken?
The best way to check this is by logging into your Pinch account and looking at the button at the top of each page. If the button is asking you to "Re-authenticate" then the chances are your sync is broken. We also send you an email if we detect a problem, so check your inbox too. Below shows the button when a re-authentication is required. Note that in this case, the account is connected to Xero however the same process applies to all compatible accounting systems.
Figure 1 - Re-authentication required due to broken sync
If this is the case, simply re-authenticate with your accounting system and then contact support. We will then run the necessary process to ensure that your reconciliation is brought up to date.
Have you configured the correct bank account for reconciliation?
When you created your Pinch account, you will have been asked which bank account in your accounting system Pinch should reconcile with. If you missed this step, or didn't know at the time then it's likely we'll have been reconciling the wrong bank account. You can access this information at any time by clicking on "Accounting Sync" on the left hand menu.
If you're using Xero, proceed straight to step 2 otherwise the information you need is on step 1. You'll see something similar to below:
Figure 2 - Configure bank account
The important bit here is the bank account. Again, this example uses Xero but it applies to all accounting systems. Ensure that the option selected is the one you need to be reconciled. After you've finished, click the "Finish" button to save your changes. After this has been corrected, contact support and we'll guide you through what needs doing to fix up the incorrect entries
Have you been settled recently?
Log in to Pinch and click the "Settlements" menu item. Check to see if we have deposited funds into your account recently. Sometimes payments are withheld from you until we receive the information we request.