How to Assign a Virtual IBANs to a Customer

There are two ways to assign a Virtual IBANs to a customer, ensuring automatic reconciliation of their incoming payments.

When Creating a New Customer

1. Go to the RequestPay tab and click ‘+ New Contact’ in the top-right corner.

2. Select ‘Create Customer on a Dedicated Funding Source’.

3. In the sidebar menu, under Dedicated Funding Sources, select the Virtual IBANs.

4. In Matching Criteria, choose ‘Dedicated Funding Source’.

5. Select a Matching Type:

   • FIFO (First In, First Out): The earliest received payment is applied to the oldest outstanding invoice.

   • Perfect Match: Matches payments based on reference and amount. You can define a percentage match requirement.

6. Fill in the customer details in the sidebar menu.

7. Click ‘Save’.

2. Assigning a Virtual IBANs to an Existing Customer

1. Select the customer and click ‘Edit’ in the sidebar menu.

2. In Matching Criteria, choose ‘Dedicated Funding Source’.

3. Select a Matching Type:

   • FIFO (First In, First Out)

   • Perfect Match (with percentage-based matching)

4. Click ‘Save’.

3. Assign a Virtual IBANs to an Existing Customer from Accounts Level

1. Go to the Accounts menu and select the account where the Virtual IBANs was created.

2. Click on the Receivables tab.

3. Click ‘Create Dedicated Funding Source’.

4. Select ‘Assign an Existing Virtual IBANs to an Existing Customer’.

5. Choose the customer from the list and assign the funding source.

Watch this video that explains in depth how virtual IBANs can be used.