What are the two options for fund deduction?
The two options are 1 deduction per currency and 1 deduction per transfer.
1 deduction per currency: all transfers in the same currency you pay are aggregated and recorded as a single deduction on your wallet.
For example, if you funded a batch transfer with your USD and EUR wallet balances, there will be 2 fund deductions corresponding to each currency on your wallet.
1 deduction per transfer: each transfer is recorded as a single deduction on your wallet.
For example, if you funded a batch transfer of 10 transfers with your USD wallet balances, there will be 10 fund deductions corresponding to each transfer on your wallet.
Why does the fund deduction behavior matter?
This impacts how the balance activities are reported (including the reports downloadable from the Airwallex web app), and what bank statement line items are synchronized through bank feeds (or uploaded manually) to your accounting / ERP software, e.g., Xero, NetSuite, etc.
How does this impact the Airwallex bank feeds?
The bank statement line items synced to your accounting / ERP software for each batch transfer is either aggregated or separated depending on the fund deduction option you choose. If you are reconciling the batch transfer against a single payable item (for each funding currency balance) created in your accounting software, choose “1 deduction per currency”. If you are reconciling the batch transfer against multiple payable items (e.g. bills) created in your accounting software, choose “1 deduction per transfer”.
Can I change the fund deduction option of a batch transfer after it’s created or submitted?
No, the fund deduction option cannot be changed once a batch transfer is created or submitted for approval