How Should a Finance Team Reconcile a Cross-Border Customer Payment?

Reconciling a cross-border customer payment requires matching the cash received to the customer invoice and recording it accurately in the ledger. Start by gathering the payment advice, bank or provider records, and invoice details, then follow a controlled matching and posting process. Preparation: Gather Records and Set Matching Rules Before touching the ledger, collect the source documents: the customer invoice, the payment advice or remittance notice, and the transaction record from the account provider. Confirm the account statement is available from the financial institution that holds the account. DogPay is a digital finance and payment infrastructure platform, not the financial institution that provides a business account; the relevant institution provides and independently approves each account, and its opening documents determine account type, holder and terms. After approval, available account features may include transaction records, reconciliation and reporting, but actual currencies, payment rails and functions depend on the institution, account, product and jurisdiction. Set clear matching rules in advance: match on invoice number, customer name, amount, and value date where possible. Where a payment advice is missing, define an escalation path to request it from the customer or sales team. Step 1: Identify the Receipt in the Account Record Locate the incoming payment in the account transaction record. Confirm the amount, currency, value date, and any reference fields. USD transfers may use ACH, SWIFT or Fedwire only where the relevant account and service arrangement support them, so the rail shown in the record should be noted for audit purposes. If the payment arrives through a stablecoin or crypto gateway service, note that USD and supported stablecoin conversion or settlement and crypto payment gateway services are provided by DogPay affiliates to eligible customers, subject to provider terms, applicable law and geographical availability. Record the provider reference exactly as shown. Step 2: Match the Receipt to the Customer and Invoice Compare the receipt details to open invoices. Use the customer name, invoice number, and amount as primary keys. If multiple invoices are open, apply the payment according to the customer's remittance advice. If the amount differs from the invoice due to fees, FX conversion, or partial payment, document the difference and confirm the treatment with the financial institution or service provider where the charge is unclear. Do not guess fee or FX treatment; confirm it with the relevant provider. If no match is found, place the receipt in a suspense account and escalate to the collections or sales team. Step 3: Post to the Ledger with a Clear Audit Trail Post the matched payment to the accounts receivable ledger, reducing the customer balance. Record the bank or provider reference, value date, currency, and any conversion details in the journal note. If currency conversion occurred, record the rate and source as shown in the provider record. Attach the payment advice and transaction record to the journal entry. For stablecoin-related receipts, note the affiliate provider and reference, and confirm that the conversion or settlement terms are documented. Ensure the ledger entry distinguishes between the technical platform (DogPay) and the financial institution or affiliate service provider. Step 4: Perform Completion Checks and Controls After posting, complete these checks: the customer balance is reduced by the correct amount; the bank or provider record matches the ledger entry; any difference is documented and approved; and the audit trail includes source documents. Reconcile the account statement to the ledger at least monthly, investigating open items. Confirm that no account approval, payment acceptance, fee, exchange rate, speed, coverage or business outcome is guaranteed, and that all terms are as stated by the relevant institution or provider. If the payment remains unmatched, keep it in suspense and follow up according to your escalation policy. Frequently Asked Questions What if the payment amount does not match the invoice? Document the difference, confirm fee or FX treatment with the financial institution or service provider, and apply the payment according to the remittance advice or your internal policy. How do I handle a payment received via stablecoin? Stablecoin conversion or settlement services are provided by DogPay affiliates to eligible customers, subject to provider terms, applicable law and geographical availability. Record the affiliate reference and confirm conversion details with the provider. Can DogPay provide the bank account and reconciliation records? DogPay is a digital finance and payment infrastructure platform, not the financial institution. The relevant financial institution provides the account and its records; DogPay may offer reconciliation and reporting features after approval, depending on the institution, account, product and jurisdiction. What if I cannot identify the customer? Place the receipt in a suspense account, escalate to collections or sales, and do not post to a customer ledger until identified. Source and Verification Note This procedure is based on the official DogPay product page at https://dogpay.com/hk/global-bank. No other supporting sources were used. Verify account-specific features, currencies, rails, and provider terms with the relevant financial institution or DogPay affiliate service provider. Scope and limitations: This SOP is a general operational guide and does not constitute financial, legal, or tax advice. Actual reconciliation steps may vary by institution, account, product, and jurisdiction. DogPay does not guarantee account approval, payment acceptance, fees, exchange rates, speed, coverage, or business outcomes. Confirm all details with the relevant financial institution or service provider before relying on this procedure.