So, you’ve successfully moved to the new me&u 2.0, what does this mean from a finance perspective?

Below is a guide on all things payments, reconciliation and payouts to help you better understand the recent changes.

This article contains the following sections:

• Changes to Finance Reporting
• Visual Diagrams
• What's New?
• Definitions
• FAQs
  • Where is my remittance PDF?
  • Where is my monthly tax invoice?
  • How do I get access to finance reports in Manage?
  • Can you send me my most recent payment voucher?
  • Is there any way to reconcile payments periodically now that our venue has migrated?

Changes to Finance Reporting

After the migration from version 1.0 to 2.0, there will be some adjustments within your financial reporting framework.

• Payment Schedule: The T+1 system will be maintained, ensuring prompt payouts. For instance, transactions processed on Monday will be paid out on Tuesday, and so forth.
• Streamlined Reporting Process: In version 1.0, you received remittance PDFs for your payments. However, with version 2.0, we’re consolidating all reporting functions under the manage interface. To access your payments reconciliation and finance reports, you’ll now navigate to the Payouts tab in Manage (see diagram below). This new process offers the advantage of quicker payment reconciliation and real-time access to updated information on a daily basis.
• Ensuring Smooth Transition: It’s essential to ensure that finance contacts can access the Payouts tab in Manage to facilitate seamless management of your financial data. If you need help with adjusting access levels in the portal, please email support@meandu.com

Visual Diagrams

1. The Payouts tab


2. The Sales Report tab

What's New?

The following actions were unavailable in version 1.0 but are now available in 2.0.

1. Now you can see if a payment is in transit or if it’s already been paid.
   (Location: Reports & Payouts > Payouts > Payout Status column)
   
2. If you feel like you’ve been over-paid or under-paid, you can check the new ‘Reason’ column. This will tell you the number of orders you’ve been paid for which you can match against the POS.
   (Location: Reports & Payouts > Payouts > Reason column)
   
3. If you want to see anything related to deductions or a breakdown of individual orders, you can download this data via two reports (export deductions & export orders).
   (Location: Reports & Payouts > Payouts > Actions column)
   
4. If you update your Bank Details, now you can double-check where funds went on particular days.
   (Location: Reports & Payouts > Payouts > Bank Account column)

Definitions

See below terms found in the 'Payout' and 'Sales Report' tabs to get familiar with.

Payout tab

Sales Report tab

FAQs

1. Where is my remittance PDF?

   In version 1.0, you would have received daily remittance PDFs. In version 2.0, all reporting functions have been consolidated under the Manage interface. To access your payments reconciliation and finance reports, you’ll now navigate to the Payouts tab in Manage (see diagram below). This new process offers the advantage of quicker payment reconciliation and real-time access to updated information on a daily basis.
   

   The dining dates Saturday, Sunday and Monday will be grouped together in the payout for Tuesday. We understand some venues prefer the previous reporting structure that splits out the dining dates per day. This feedback has been passed on to our Product team.
   
   

2. Where is my monthly tax invoice?
   

   In version 1.0, you would have received monthly tax invoice PDFs. In version 2.0, all reporting functions have been consolidated under the Manage interface. You can now navigate to the Billing tab in Manage to access your tax invoices at any time. See diagram below:

   
   
   

3. How do I get access to finance reports in Manage?

   When logging into Manage (https://manage.meandu.app/), if you cannot see the Payouts tab on the left hand side and need access to this, please email support@meandu.com and we'll get this sorted for you!
   
   

4. Can you send me my most recent payment voucher?
   

   In version 1.0, you would have received daily payment vouchers/remittance PDFs. In version 2.0, all your payments reconciliation and finance reports can now be accessed within the Payouts tab in Manage (see here). 
   
   

5. Is there any way to reconcile payments periodically now that our venue has migrated?
   

   With the transition from me&u 1.0 to me&u 2.0, we recognise Finance departments at some independent venues were used to reconciling weekly/monthly.
   
   While the Manage portal currently does not support exporting weekly or monthly payout summaries, the following steps will guide you on how to reconcile payments periodically.
   
   Step 1 - Click on Reports & Payouts > Payouts then filter the payout time according to the period you’re looking for.
   
   
   Step 2 - Save the table in a PDF format (File > Print > Save). Change the layout to 'landscape' mode before you hit 'Save'.
   
   Step 3 –  Open Excel and click Data > Get Data > From File > From Pdf. Select the PDF you just saved.
   
   
   Step 4 – Once the dialog box appears, click Table 001 > Transform Data.
   
   
   

   Step 5 –  This will open the below window. Click on 'Close and Load.'
   

   
   Step 6 –  You should have the desired results on Excel now. Just add the totals at the bottom and reconcile.
   
   

6. Still having trouble reconciling payments?
   
   1) Check for Red Orders
   
   Overview
   Red orders are recorded on the me&u platform but may not appear on your POS (Point of Sale) system.
   
   Steps
   1) Open Manage > Orders > Live Orders.
   2) Look for any transactions marked as Red orders that are missing from your POS.
   3) Ensure these orders are manually recorded in your POS system for accurate reconciliation.
   
   2) Review Your Refunds Process
   
   Overview
   When a refund is processed through the me&u platform, the refund is not automatically reflected within your POS system.
   
   Steps
   1) Set aside time to regularly check the refunds processed through me&u.
   2) Implement a procedure to manually adjust your POS system to reflect these refunds.
   3) Daily Balance Checks: At the end of each business day, compare your POS records with me&u transactions, including refunds, to ensure consistency.
   
   3) Establish Internal Procedures
   
   Consistent Documentation: Maintain thorough records of all transactions, incl. those processed through me&u and your POS system.
   Regular Audits: Conduct regular audits to verify that all sales and refunds are accurately recorded across both systems.
   Training: Ensure your staff are trained on how to handle Red orders and refunds to prevent discrepancies.
   
   By following these steps, you can better manage and reconcile your payments, ensuring that your financial records are accurate and up-to-date.
   
   For further assistance please reach out to our Support Team.