Best Practice: Record a Customer Payment from an Unknown Customer and still reconcile our Bank Statement in a timely mannner?

Question

We often receive Customer Payments that take a while to track down the Customer.
These are normally international wires and it could take several weeks for either the Customer or the Sales person to let us know who the money belongs to.
What is the best way to record these payments and reconcile our bank statement and later move the money to the correct Customer?

Ray Carnes (ray) · Accepted Answer

Setup a Customer named "Unknown Customer" and reconcile these funds to your Accounts Receivable account.
Later, when you identify the actual Customer, you can update the Journal Item (only the AR part needs to be updated):
image [1]

If this happens frequently enough you may want to create a reconcilation model to make things more efficient:
image [2]

[1] /web/image/71131701-23c7eff1/image.png?access_token=b70b808f-41c2-4a8d-9749-56c294ba16b0
[2] /web/image/71131702-0dadf608/image.png?access_t

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