Providing a payment reference is essential for identifying and tracking your transactions. This unique identifier helps both you and your recipient match payments with specific invoices or services, ensuring accurate record-keeping and a smoother reconciliation process.

Before you make a payment, ensure you have a relevant reference (such as an invoice number) ready. To complete a payment successfully, note the following:

• The Reference field is a mandatory requirement on the platform.

• The Continue button will remain inactive (greyed out) until a reference is provided.

Next Steps

To provide a payment reference while making a payment, follow these steps:

1. Log into your OFX account.

2. Navigate to the Payments section.

   

3. Click on Create a Payment.

   

4. Fill in the recipient and payment details.

   

5. Locate the Reference field.

   

6. Enter a unique and clear identifier (e.g., Invoice #12345 or Service Fee – April).

7. Click Continue once the field is populated to proceed with your payment.

8. Confirmation: Once the payment is submitted, the reference will be attached to the transaction record for both parties to view.

   

Why is this important:

Including a payment reference ensures that your financial records remain organised and easily traceable. It reduces confusion for the recipient, facilitates quicker communication if there are any inquiries, and significantly simplifies the auditing and accounting process for your business.

Related FAQ Articles:

• What is a payment reference?