Virtual Card Reconciliation with Multiple Settlements

Reconcile virtual card payments when suppliers process multiple settlements against a single virtual card. This feature ensures accurate reconciliation by matching all related transactions to the corresponding virtual card, and recording the card statement accurately.

This feature applies to organizations using the integrated virtual card solution with J.P. Morgan and is invoked when your organization receives card statements for virtual card supplier payments made through the J.P. Morgan virtual card program. It supports scenarios where a single virtual card payment is settled in more than one transaction, including settlements that arrive across billing cycles, and helps ensure that all settlement activity is evaluated together so the card statement is recorded accurately.

When card statement lines are received, the application matches each statement line to the corresponding payment reference. Multiple statement lines for the same virtual card payment are not considered as duplicates but recorded as two separate lines and can be reviewed by the payment manager. If statement lines total to the payment amount, the payment is marked as fully reconciled for statement purposes.

Business benefits include:

• Seamless completion of multiple settlements for the same virtual card
• Accurate recording of card statements with multiple settlements

Steps to enable and configure

You don't need to do anything to enable this feature.

Tips and considerations

If you are interested in enabling the integrated virtual card solution, see the 25B feature Integrated Virtual Card Payments for Supplier Invoices for steps to enable.

Access requirements

No new access requirements.