When you or your bookkeeper reconcile the company bank account, you need to recognise the payment going to us. Here is what a Credicorp collection or payment looks like on your side.
Direct Debit collections
A Direct Debit collection appears on your business bank statement as a debit with our originator name and your reference, on or just after the due date. The name shown is the one you agreed to when the Direct Debit was set up, so it matches your Direct Debit notice. If a line looks unfamiliar, cross-check the date and amount against your Credicorp statement — see how to check a statement line you don't recognise.
Transfers and card payments
A bank transfer you send appears with the payee details and reference you entered. A card payment shows our merchant name. Keeping the reference consistent makes reconciliation between your bank feed and your Credicorp statements much quicker — see using statements to reconcile your facility with your bank.
Matching it in your accounting software
In Xero, QuickBooks or similar, set up a rule to match the recurring collection to the right nominal codes so each month reconciles automatically. Your bookkeeper will split the payment between the balance reduction and the cost of borrowing — see how to reconcile a statement against your bookkeeping software.
Credicorp lends to companies rather than to you personally, so this is business finance outside the consumer-credit regime. That does not change the practical steps below.
See also: Using statements to reconcile your facility with your bank, Do I get a receipt or confirmation of payment?, How to check a statement line you don't recognise.