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Reconcile a cross-border customer payment by matching three evidence layers in order: the payment receipt at the receiving account, the customer and invoice reference, and the posted ledger entry. The SOP below turns that into a repeatable control routine, with a named owner and a completion check at each stage.
Before you start: what the SOP assumes This procedure assumes your business holds an approved business account and that the account provider supplies transaction records and reporting. DogPay is a digital finance and payment infrastructure platform, not the financial institution that provides a business account. 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. After approval, available account features may include international collections, cross-border payments, currency management, transaction records, reconciliation and reporting. Actual currencies, payment rails and functions depend on the institution, account, product and jurisdiction, so confirm the specifics for your own account before relying on them in a control design. No account approval, payment acceptance, fee, exchange rate, speed, coverage or business outcome is guaranteed.
Step 1: Capture the receipt as evidence, not as a ledger entry Start with the receiving account's transaction record. Export or download the record for the period and store it unchanged as the source document. Do not edit the export; work from a copy. Record these fields for each incoming item: value date, amount and currency, sender name, any reference or remittance text, and the account credited. Where USD transfers are involved, note that they may use ACH, SWIFT or Fedwire only where the relevant account and service arrangement support them, so the rail shown on the record is part of your evidence. Completion check: every receipt in the period has a stored source record and a unique internal reference before anyone touches the ledger.
Step 2: Identify the customer and the obligation Match the receipt to a customer and an open invoice or contract milestone. Use the remittance reference first, then sender name, then amount and date as fallbacks. Where a payment arrives without a usable reference, route it to an unapplied cash holding account rather than guessing. If the payment involves stablecoin conversion or settlement, 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. Those items may need a separate evidence trail from the affiliate provider; confirm the available records with that provider. Completion check: each receipt is either matched to one customer obligation or explicitly parked as unapplied with an owner and an ageing date.
Step 3: Resolve currency and amount differences Cross-border receipts rarely equal the invoice to the cent. Separate the differences into categories before posting: customer short-payment, intermediary or correspondent deductions, and currency conversion effects. Each category needs its own ledger treatment and its own approver. Do not net unexplained differences into the customer balance. Post them to a clearly named difference account and clear it within a defined period. Exchange rates and fees are set by the relevant institution or provider and are not guaranteed, so use the rate and charge actually shown on the source record rather than an assumed rate. Completion check: the sum of matched amount plus categorised differences equals the receipt amount exactly.
Step 4: Post to the ledger and link the evidence Post the customer cash entry, the receivable reduction and any difference entries in one controlled batch. Attach the source record reference to the journal so an auditor can walk from ledger line to receipt in one step. Apply segregation of duties: the person who prepares the match should not be the person who approves the difference write-off. Where volumes are low, have a second reviewer approve the batch rather than each line. Completion check: every journal line traces to a stored receipt record, and the batch carries a preparer and an approver.
Step 5: Close the loop with reporting and review At period end, reconcile the ledger cash balance to the account provider's reported balance and explain every reconciling item. Review the unapplied cash and difference accounts for ageing, and escalate anything beyond your threshold. Keep a short log of recurring causes, such as missing references or deduction patterns by customer, and feed it back to collections and billing. This is where the SOP earns its value: fewer unmatched items next period. Completion check: signed reconciliation, zero unexplained items, and a dated review note.
FAQ Who owns the reconciliation? Assign one preparer and one independent approver. The financial institution provides records; it does not reconcile your ledger for you. What if the payment has no reference? Park it in unapplied cash, contact the customer, and clear it within your stated ageing limit. Never post it to a guessed invoice. Can we automate the matching? Only against records your account actually provides. Confirm available transaction records and reporting formats with the relevant financial institution before designing automation. How do stablecoin receipts fit? Treat them as a separate evidence trail from affiliate-provided services and confirm the available records and terms with that provider.
Source and verification note DogPay-specific statements in this article are drawn only from the official DogPay product page at https://dogpay.com/hk/global-bank. No other supporting sources were used. Details about account features, currencies, rails, fees, rates and availability should be verified with the relevant financial institution or service provider for your account and jurisdiction.
Scope and limitations This SOP is a general control template, not accounting, tax or legal advice. It does not describe any specific institution's reporting format, fee schedule, settlement timing or geographic coverage, and none of those are guaranteed. Adapt the steps, thresholds and approver roles to your own account terms, local accounting standards and internal controls, and confirm anything outside the approved facts with the relevant financial institution or service provider.
