Automate Repetitive Tasks | Payment Allocation

Tangent's Automated Solution

Published: 7 July 2022

Robotic Process Automation in Payment Allocations  

Hi, I’m Bonnie, an automated solution. Today, I’ll show you how I enhance our internal day-to-day operations regarding payment allocation. 

First, let’s set the scene.  

  1. The Registration Process 

Upon registration, our members are required to renew their memberships by paying a fee aligned to the registered designation. The following payment options are available to them: 

  • EFT
  • PAYU
  • Snapscan 

2. Making Payments 

In order to successfully allocate these payments, I need to extract the payment-related data for payment option classes, format the data into a predefined template and then upload the data onto our internal system for payment application.

This all needs to adhere to the necessary verification, archiving and reporting requirements. Let me show you what this looks like in more detail for each payment option. 

Before I can start my day, I need to wait for an email from my colleagues. Therefore, I monitor my inbox at regular intervals until an email is received. 

Now, I can open up and check which payment options I need to process as stated in the subject line and then download the documents into a predefined folder location under a standard naming.

3. Processing Debit Orders 

In this case, I’ve been informed to process the debit orders. First, I extract the data from a PDF document. I then need to segment the transaction by date if required. For now, I’ll only process those that are due today. 

First, I will format the data. Next, I can format the data according to the predefined template. I update the date format and capture the unique identifiers. 

This can be the:

  • Proforma invoice number
  • Tax invoice number
  • Membership number

Add the debit tag to the identifier and, finally, capture the amount which should have no currency associated with it. 

The document is now ready for upload to our internal system. I start by logging in with my assigned credentials and navigating to the Import payment section, where I can upload the document.

The system matches each transaction by its unique identifier, so I only need to select the successfully matched transactions and allocate the payments.

Sometimes, the system will not be able to match all of the transactions. In these cases, I need to move them to an unallocated document my colleagues can access. 

In the future, I will be dependent on them to rectify the transactions and, upon completion, update the reallocated column. I’ll check from time to time and retry the upload process as soon as they are done. 

After every upload, I update the daily summary document. This is to keep everyone up to date on the status of the payment allocation process.  In other words, out of the total amount of payments that have to be allocated, I indicate the number of successfully processed transactions vs. the unsuccessful ones. This also includes the monetary amount associated with each. And that’s the end of the debit order process. 

4. Processing EFT Payments 

While I was busy, a new email arrived in my inbox, and based on the subject line – EFT payments are now ready for processing.

First, I extract the data from the CSV document – I then need to remove any unwanted transactions, such as bounced and unpaid debt orders, with the latter needs to be saved into a separate document for my colleagues to process. 

Next up is formatting again. I update the date format, segment the Unique Identifiers from the debit order reference, and finally capture the amount without the currency.

I can access the system to follow the same procedure as described previously. After which, the unallocated transactions can be separated if required, and the summary document can be updated with the results 

5. Processing PAYU payments 

Next up is the processing of the PAYU payments, which I also received via email. The data is first extracted from relevant sheets in the Excel document. However, the process is slightly different from the other payment options. 

I first need to determine if the payments have already been allocated. I do this by accessing the internal system where I can check the profile related by using the unique identifier. I can then verify the allocation status. 

If the Proforma invoice numbers are provided, then I need to make sure that a corresponding invoice number exists based on the transaction date and amount. I then check that the status is set to pay. I only need to check the status if an invoice number is provided. If the criteria have not been satisfied, I know that the payment has not yet been allocated and can, therefore, be added to the uploaded document. 

Upon completion, I can follow the same procedure again: by formatting the data with a PayU tag that will be added for reference, then upload and allocate the payments, separate the unallocated transactions and update the summary document. 

6. Processing SnapScan Payments 

Now, I only have the Snapscan payment options that still need to be processed. However, I didn’t receive an email to trigger this process. I can access the Snapscan website at a scheduled time. 

Here, I search and extract the relevant data using the current date as a filter. After which, I format the data and add the Snapscan tag reference. This allows you to separate the unallocated transactions and update the summary documents and that’s it for the day. 

The Advantage of Automated Payment Allocations 

As you can see, the process can be quite tedious and time-consuming. By having me around my colleagues can finally focus on value-adding activities within the business.

The days of payment allocations have become a whole lot easier. 

Build your own Bonnie today with Tangent Solutions. Watch the Full Video Below.

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