Once you’ve onboarded a vendor to statement reconciliation, the fun can begin! (Ok… we recognize we’re playing it pretty fast and loose with the word ”fun”, but this is pretty cool stuff.) MarginEdge will automatically send you an email if we find any reconciliation issues with your vendor statement. Then we’ll walk you through how to make things right. No more spending hours to find the problems – just spend minutes to fix them!
Reconciliation Email Alerts
Did you get an issue summary email asking for your "help to finish reconciliation"? That means we’ve finished processing your most recent vendor statement, but there are some actions you will need to take to finish the reconciliation process.
From the email or from Bill Pay > Reconciliation, click the blue “Resolve issues” button, and we’ll walk you through the steps to get back in sync with your vendor.
Note: We also send out a weekly digest email on Monday mornings listing any outstanding issues across all your vendors in reconciliation to make sure you don’t miss a beat. That will likewise have links to take you right to the trouble spot - even if you're just on your phone! - so you can address it quickly!
Types of Issues
Below are the types of issues you will encounter. Clicking on the link will take you to step by step instructions. If you just want the quick video instructions, those are right below for you to jump right in!
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Credit found
Nice, there was a vendor credit on your statement that wasn’t yet recorded in MarginEdge… it's kind of like finding a $20 bill in your coat pocket! -
Invoice missing from [me]
Most likely the Invoice just didn’t get uploaded to MarginEdge. -
Credit missing from Statement
Something might have fallen through the cracks (perhaps a handwritten adjustment was missed). We might need to request the Credit memo again. -
Invoice missing from Statement
If you’re sure you haven’t paid the Invoice yet, this could mean something went wrong on the vendor side - perhaps a misapplied payment? -
Invoice or Credit Discrepancy
The Invoice or Credit memo is present on the vendor statement and in MarginEdge, but the totals don’t match. -
Open Invoices
In order to reconcile Invoices, we need them to be closed in MarginEdge. If the Invoice was uploaded recently, you’ll just need to sit tight and wait the 24-48 hours. Other times, your team needs to act - like when an Invoice requires an image to finish processing or when an Invoice is pending approval. In those examples, you’ll be prompted to address the open Invoice so we can continue with reconciliation.
How to send an Email to Request a Missing Invoice or Credit
Options for Addressing Missing Items - Credits
How to Create an Invoice if one is Missing
Addressing Discrepancies
Step by Step, How to Fix an Issue
Once you click the blue “Resolve issues” button from the summary or digest email, we’ll walk you through the various options to get back in sync with your vendor.
Documents Missing from MarginEdge
When Invoices or Credits are on the vendor statement but not in MarginEdge, there are 3 main ways to handle them:
Option 1 - Create the missing Invoice or Credit in MarginEdge
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- Choose the level of detail you need - You decide if you want this to just reflect category-level data or if you want the line-item details. (Remember, line-item detail requires a full invoice image for us to process.)
- Enter the document details - We will prompt you for the date (required) and credit document number. If a Credit is missing, we’ll also ask for the parent invoice number (the number of the original Invoice that prompted a Credit memo to be issued).
- Choose the expense categories - If you only require category-level data, we still give you the opportunity to choose which categories we apply the expense / Credit towards. Either manually select categories yourself, or have us calculate the distribution for you - based on the average of the past 90 days of purchases for this vendor.
- And upload an image of the Invoice or Credit, if you like (again this is necessary if you want line-item detail)
Option 2 - Email your team at the restaurant to request they upload the missing Invoice or Credit memo
Option 3 - Email your vendor contact to request they send the missing Invoice or Credit memo
In Option 2 and 3, the process is virtually identical:
- You choose who should receive the email, which you will automatically be copied on.
- The email will include the missing document number and total to make it easy to track down.
- You will have the opportunity to review and edit the request email at the end of your session - once you’ve figured out whether there are any other issues you need to discuss with your vendor.
- Once sent, you can track which emails are still awaiting a response from the Bill Pay > Reconciliation screen. Outstanding issues will also show up on your Weekly Issue Digest email.
- And don't worry, our team behind reconcilition@marginedge.com will respond if someone replies directly to that email!
Note: If you have multiple missing Invoices or Credits and want to handle them each individually, you will have to exit the issue wizard and manually make adjustments. This is not possible from your mobile device.
Documents Missing from the Vendor Statement
Things are a little trickier when documents are missing from the vendor statement. That generally means something went wrong and will require a little more detective work.
When a Credit is missing from the vendor statement, you’ll still be given the option to request the Credit from your vendor (see email steps above). But we also give you the option to:
- Create an Invoice in MarginEdge to offset the missing vendor Credit
- Review all open Credits with this vendor in MarginEdge to look for duplicates
- Delete the Credit in MarginEdge
When an Invoice is missing from the statement, the best option is to email the vendor to get clarity on what happened.
Invoice or Credit Discrepancies
If the Invoice or Credit memo totals in MarginEdge do not match the total on your vendor's statement, you have two options to resolve this:
- Accept the difference and create an adjustment invoice (and pay it) to keep things in sync.
- Email to your vendor to dispute the difference.
If you choose to create an Invoice adjustment, it's a similar process as we listed above.
- Decide if you want the Invoice to reflect category-level data or if you want the line-item details.
- If line-item detail is desired, we need an Invoice image to process it.
- If category-level detail is desired, you can choose to manually apply the expense or have us calculate the expense distribution for you - based on the average of the past 90 days of purchases for this vendor.
- Once the Invoice adjustment is completed and closed, it will show up along with your other outstanding bills to be paid for that vendor.