To explore accounting for Bill Pay, click on 'Accounting tab' in menu and then click on 'Transactions' tab.
We sync transaction information available on the Volopay platform into your accounting software including accounting book vendor, tax code, chart of account, due date of transaction.
Note: Accounting will be only visible for admin and accountant accounts in Volopay. Check with your admin if you require access.
The transactions tab contains all your Volopay transactions which include your new transactions and already synced transactions. The accounting process for bill payments majorly goes through four different stages (Pending to verify, Pending to sync, Synced). You can easily find all your bill pay transactions in the pending to verify stage by making use of the filter as shown below.
Pending to Verify
All new transactions will land in "Pending to verify" stage and continue to stay there until the Admin completes all the required fields and verifies them. The admin will have to add the Chart of Accounts (COA) in case the Volopay account is integrated with an accounting software (Xero/Quickbooks).
Once you verify a transaction, you won't be able to make any changes to the expense.
Pending to Sync
All verified transactions will be visible in pending to sync stage, here you won't be able to make any changes to any transaction but you can sync these transactions with your respective accounting software.
Once you sync a verified transaction, all synced transactions will be visible in the synced state here.
For more information on accounting integration check integration article.