When a customer makes an Open Banking payment, the money transfers directly from their bank account to yours immediately there is no intermediary, no payout process, and no waiting period.
Because Open Banking is essentially a direct wire transfer, these payments need to be configured to post directly to your bank account ledger in your ERP system for reconciliation.
Steps to Configure Open Banking Reconciliation
Go to your Kolleno Settings
Select "Payments"
Next to "Bank Account", click on the ellipsis (⋮) to view the sub-menu
Click on the "View and Add accounts"
Click on the hand-holding icon
In the "Undeposited Funds" select the correct account in your ERP system.
IMPORTANT: Despite the field being labeled "Undeposited Funds," you should select your actual Bank Ledger account from your ERP system.
7. Click "Save"