In accounting, you must be able to reconcile the figures so that net invoiced revenue (i.e., invoiced minus credited) equals accounts receivable + net payments (i.e., payments received minus payouts). In other words: every invoice is either paid or outstanding.
When reconciliation is done using figures from Iteras’ reports (and not in an external accounting system using data pulled from Iteras via API), use the following reports:
Revenue: Shows invoiced and credited amounts.
Payments: Shows incoming and outgoing payments.
Subscriber balances: Shows subscribers’ balances.
There are also three supplementary, specialized reports:
Invoices can show all issued invoices, including unpaid ones.
Credits shows amounts that subscribers are owed by us (meaning overpaid, not “not yet delivered”).
Failed payments shows payments from payment slips (Danish 'indbetalingskort') that cannot be matched to an invoice due to an incorrect payment ID.
In Iteras, the receivables and payments reports are based on the date the payment is recorded in Iteras—not the bank value date. However, you can pull a bank reconciliation report that uses calculated bank value dates.
By default (this can be disabled at any level, e.g., globally or for individual subscribers), Iteras automatically applies customer credits when invoices are created. In such cases, there will be revenue that is not matched by a payment, yet the invoice will be settled so the balance becomes zero. This simply means the prior balance was in the subscriber’s favor.
Another source of differences is unmatched payments that can occur with payment slips. These are payments that cannot be assigned to an invoice because the payment ID was entered incorrectly. They appear on the bank account but are only included in the Payments report once they are recorded against an invoice. You must account for these to reconcile the accounts.