Payments within Younium

Introduction to Younium Payments

The payments section of Younium is used when running your accounts receivable in Younium. A payment is a deposit that you as a company have received to your bank account. If you are running your accounts receivables in Younium you will need to register your payments in Younium to reconcile and settle open invoices.

Younium supports the following methods to import payments:

1. Manually add a single payment with Add payment button. One manually added payment will create a batch with one payment and is meant to match one payment line on your bank account. One payment can be used to cover more than one invoice. If you have several payments with references to match to your invoices you need to use the Import payment function.
2. Import a file, Younium supports the following formats, BGMAX, CAMT054, and a general CSV Import.
3. Import via Connectors, Younium strives for automation, hence we have partnered up with several payment connectors to automatically fetch payments from your bank account. Please ask your customer success manager which partner is relevant for you.

Main functionalities:

1. Add a payment or import a payment batch
2. Post all matched payments
3. Find and match all unmatched payments to corresponding invoices
4. Add write offs on deviating amounts that are either slightly above or below the invoiced amount.
5. Search for all values that are visible in the columns in the table, if you add a column such as custom field, that value will also be searchable. If you select a batch, you will search in that batch only.

Invoice matching functionality

When a payment have been imported into Younium, we will automatically try to match the payment with a open invoice. We will do so by matching the

1. Invoice number

or

2. OCR- number (if generated on the invoice)

With the payment reference field on the invoice. To enhance clarity in the overview, we've color-coded matched payments using three distinct colors:

Green - Payment matched with an invoice and there are no remaining amount to be matched or to be written off. Once posted, the payment will be fully processed.

Yellow - Payment is partially matched, the reference have a corresponding invoice but there is a remaining amount (either negative or positive) on the payment to allocate. An action is needed; either add another invoice linked with this payment for matching, or add a write off.

Red - No matching invoices found. Investigate who made the payment and add an invoice to match against.

Posting functionality

Posting matched payments to invoices will settle the invoices with the amount on the payment. Youniums posting functionality is designed to run as soon as the payment is imported to settle all matched invoices and to leave the partially matched or unmatched payments within the payment batch.

It is not possible to revert a posted payment batch or payment. If you want to adjust already posted payments you need to open the invoice and add new payment with negative amount.

We always recommend to strive for automation, meaning if a payment partner is available in your region, please use that in combination with a recurring job to fetch the payments on a daily basis.