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

Reconciliation starts before the money arrives: agree the expected amount, currency and reference with the customer, then match the actual receipt to the invoice and post the difference to a documented ledger line. The finance team owns the match and the audit trail; the financial institution owns the account record, and any stablecoin or crypto services are provided by DogPay affiliates under their own terms.

Preparation: what to settle before the first payment

Confirm the account details in writing with the customer, including the currency and the payment reference format your team uses. Record which institution holds the account, because the institution provides and independently approves each account and its opening documents determine the account type, holder and terms. Agree internally who may approve write-offs, FX differences and unmatched items, and set a review cadence. Note that USD transfers may use ACH, SWIFT or Fedwire only where the relevant account and service arrangement support them, so confirm the rail with the institution rather than assuming one. Where stablecoin conversion or settlement or crypto gateway services are involved, confirm eligibility, provider terms, applicable law and geographical availability with the DogPay affiliate before designing any step around them.

Export or download the transaction record from the account provider on a fixed schedule. 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. Log the value date, currency, amount, sender name and any reference exactly as shown. Do not edit the source record; keep it as the evidence file.

Match each receipt to an open invoice or customer expectation using the reference first, then sender name, then amount. Where a reference is missing, hold the item in a suspense line rather than forcing a match. Record partial payments against the invoice balance and flag them for the collections owner.

Separate the difference into categories: bank charges deducted in transit, currency conversion differences, short payment by the customer, or an unidentified remitter. Each category needs its own ledger treatment and its own approver. Do not net unexplained differences into revenue. Where a fee or exchange rate is unclear, confirm it with the relevant financial institution or service provider; no fee, exchange rate or speed is guaranteed.

Post the customer receipt to the receivables ledger, post charges to the appropriate expense line, and post conversion differences to a designated account. Attach the source record and the matching note to the journal entry. Where the payment arrived through a stablecoin or crypto route, post according to the affiliate provider's records and your own accounting policy, and confirm treatment with your adviser.

Aged unmatched items should be reviewed on a fixed cycle. Assign an owner, a next action and a deadline to each open item. Escalate items that exceed your threshold to the approver named in preparation.

A reconciliation cycle is complete when every receipt in the period is either matched, posted to suspense with an owner, or documented as a non-customer item; when every difference has a category and an approver; when the ledger balance agrees to the provider record; and when the evidence file is stored and retrievable for audit.

Who owns the reconciliation? The finance team owns matching, posting and the audit trail. The financial institution owns the account and its records; DogPay is a digital finance and payment infrastructure platform, not the financial institution that provides the business account.

What if the customer pays in a different currency? Record the received currency as shown, post the conversion difference separately, and confirm the applicable rate with the institution or provider. Rates are not guaranteed.

Can we automate the match? Available features may include reconciliation and reporting, but actual functions depend on the institution, account, product and jurisdiction. Confirm what your account supports before relying on automation.

What about stablecoin receipts? 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. Confirm the record format and eligibility with the affiliate.

This SOP relies only on the official DogPay product page at https://dogpay.com/hk/global-bank. No other sources were used or reviewed. Readers should verify account features, rails, currencies and any affiliate service terms directly with the relevant financial institution or service provider.

This article describes a general operating procedure, not accounting, tax or legal advice. Businesses may apply online for a US-dollar business account and Hong Kong or Singapore multi-currency business account options, but the relevant financial institution provides and independently approves each account, and its opening documents determine account type, holder and terms. No account approval, payment acceptance, fee, exchange rate, speed, coverage or business outcome is guaranteed. Confirm all specifics with the institution or provider.