Wire Transfers

The Wire Transfers tab is the reconciliation workspace for bank transactions that have been imported into Aerolync. When your organisation receives wire transfers (bank payments), those transfers appear here and need to be matched to the correct finance item or relation before they affect balances.

When to use Wire Transfers

Open this tab when you need to:

• Review newly imported bank transactions
• Match a wire transfer to the correct finance item or relation
• Reject a transfer that does not belong in your finance workflow
• Correct a transfer that was linked to the wrong item
• Ensure all received bank payments are accounted for

Understanding the transfer list

The Wire Transfers tab is split into two sections:

Unhandled transfers

These are imported bank transactions that have not yet been matched to a finance item. They require your attention. Each unhandled transfer must be reviewed, linked, or rejected before it is considered reconciled.

Handled transfers

These are transfers that have already been linked to a finance item or rejected. They remain visible for reference and auditing purposes.

Transfer details

For each wire transfer, you can review the following information:

Step-by-step reconciliation workflow

Reconciling wire transfers is one of the most important routine tasks in Finance. Follow these steps for each unhandled transfer:

Step 1: Review the transfer details

1. Open the Wire Transfers tab.
2. Look at the list of unhandled transfers.
3. Select a transfer to review its details.
4. Note the amount, counterpart name, and remittance information.

Step 2: Identify the correct match

Use the counterpart name and remittance information to determine which relation or finance item this transfer belongs to:

• If the remittance information contains an invoice number, look for that invoice in the Invoices tab.
• If the counterpart name matches a known relation, search for that relation in the system.
• If the amount matches an expected payment from a specific relation, use that as confirmation.

Step 3: Link the transfer

1. Once you have identified the correct match, use the link action on the transfer.
2. Select the finance item or relation to link to.
3. Confirm the link.
4. The transfer moves from the unhandled list to the handled list.
5. The corresponding balance is updated in the Balances tab.

Step 4: Handle unrecognised transfers

If you cannot identify where a transfer belongs:

• Double-check the counterpart name and remittance information for typos or alternative spellings.
• Search for the amount in the Transactions tab to find a matching expected payment.
• If the transfer truly does not belong to any finance item, reject it. Rejected transfers are moved to the handled list and do not affect balances.

Common tasks

Reconciling a batch of new transfers

1. Open the Wire Transfers tab.
2. Work through the unhandled list from top to bottom.
3. For each transfer, review the details, identify the match, and link or reject.
4. After completing the batch, check the Balances tab to confirm that the linked amounts are reflected correctly.

Correcting a wrongly linked transfer

If a transfer was linked to the wrong finance item:

1. Open the Wire Transfers tab.
2. Find the transfer in the handled list.
3. Use the unlink action to remove the incorrect link.
4. The transfer returns to the unhandled list.
5. Link it to the correct finance item following the normal reconciliation workflow.

Rejecting an irrelevant transfer

Some imported transfers may not be relevant to your Aerolync finance workflow (for example, bank fees or transfers between your own accounts):

1. Open the Wire Transfers tab.
2. Select the irrelevant transfer from the unhandled list.
3. Use the reject action.
4. The transfer moves to the handled list and does not create any finance entry.

How Wire Transfers relates to other tabs

• Transactions -- when a wire transfer is linked to a finance item, the corresponding transaction in the Transactions tab is updated or created as a credit entry.
• Balances -- linked transfers update the credit total for the relevant relation in the Balances tab.
• Invoices -- wire transfers often correspond to invoice payments. Cross-reference the remittance information with invoice numbers in the Invoices tab.
• Relations -- linked transfers appear on the relation's Finance tab as part of their financial history.

Good practice

• Reconcile regularly. Do not let the unhandled list grow. A weekly reconciliation routine keeps balances accurate and prevents a backlog of unmatched transfers.

• Unlink and correct quickly. If you discover that a transfer was matched to the wrong item, fix it immediately. The longer a wrong match stays in the system, the harder it is to trace.
• Reject decisively. If a transfer clearly does not belong in your finance workflow, reject it rather than leaving it in the unhandled list. Unhandled transfers create noise and make it harder to focus on items that need attention.

• Check Balances after reconciliation. After processing a batch of transfers, open the Balances tab to verify that the expected amounts are now reflected.