Processing an Amount Received

When you receive a payment from the provider for remuneration you need to enter it as a ‘Receipt’ on CCD. You will not be able to reconcile remuneration if a ‘Receipt’ has not been added.

‘Receipts’ should be entered in full as detailed reconciliation is made against each ‘Receipt’, this could be one single remuneration expectation, several expectations or a combination of remuneration expectations and claw backs. To give good reporting and a true reconciliation to your bank account, receipts should be added on the date the money was credited to your bank account, not the day you are performing the reconciliation.

To add a new ‘Receipt’ click into the

 to add the full details of the ‘Receipt’.

For reporting purposes the “paid” date is set in the set up > technical > remunerations area of CCD and was covered earlier in this guide. The paid date will be either the statementdate, the received date or todays date (current date).

Dates must be added in the format DD/MM/YYYY.

Once you have entered the ‘Receipt’ details, select the reconcile tab.

This will bring forward all the amounts in the ‘Amounts due’ section waiting to be paid for the provider selected on the ‘Receipt’.

You can now select each of the amounts included on this payment from the list.

There are four ways to reconcile an amount:

1)

if the expected amount matches exactly with the amount received from the provider all you need to do is select the 

on the right hand side of the screen next to the amount expected.

2)

if the expected amount is different to the amount received from the provider but you are happy to accept the difference, then enter the amount being paid in the white box immediately below the expected amount and select the 

on the right hand side of the screen next to the amount expected.

3)

If the amount received is different to the expected amount and you are not happy to write off the difference then this option should be selected. You are then able to pay the amount that has been sent and set up a suspense amount for the difference to allow for further investigations to be made or to

wait for a further payment from the provider. Click into the

 this will then present you with a detail screen.

4)

This option is used where there is no expectation showing in the ‘Amounts due’ but not paid list. This is usually where small amounts of renewal remuneration are not being individually reconciled but are being recorded as a bulk amount, or where a claw back is being claimed, but no claw back expectation has been set up.

This will create a blank ‘Various’ expectation. The arrow can then be used to enter all the relevant information. Ensure that the notes tab of any item created this way is viewed to ensure that all the relevant FCA reporting fields are completed.

Once all the items listed on the provider statement have been reconciled the top line will show: