Summary of the Payment Processing

Processing Payments in WeconnectU consists of a few different steps.

This is just a broad overview of the sequence to be followed, with links to the detailed explanations of each step.

Map payments received to wallets in Banking: All payments received in your trust account displays on this screen, and it is your responsibility to map the funds received to the various wallets - ready to allocate and pay funds. Read more about the Banking Screen here.
Allocate the funds received from Payment Allocations: Once mapped from the Banking screen, all wallets with funds will be on this screen. In this step, you will be able to allocate the funds received towards the various invoices due and submit the payment instructions for approval. Read more about Payment Allocations here.
Approve the payment instructions that were created in Payment Approvals. Read more about Payment Approvals here.
ONLY IF you are using basic accounting, you will need to do Payment Allocations and Payments on Asset Group level too. See the full step-by-step guide here.
Release any Remittances on hold. Read more about remittances here.