Reconcile daily sales with bank transactions

Purpose

1.1. Automate reconciliation of daily POS sales data with inflows recorded in connected bank accounts to minimize manual accounting errors.
1.2. Ensure sales transactions match deposits, flag discrepancies for review, generate reconciliation reports, and update back-office ledgers.
1.3. Provide transparent audit trails for retail appliance store operations, enhancing accounting speed and accuracy.

Trigger Conditions

2.1. Daily scheduled batch or end-of-day event in POS or accounting system.
2.2. New bank transaction detected within integration window.
2.3. Manual trigger from dashboard for on-demand reconciliation.
2.4. Receipt of daily POS sales report or upload of bank statement file.

Platform Variants

3.1. QuickBooks Online
• Function: Bank transaction fetch (Banking API – List transactions), Reconciliation API
• Sample: Configure OAuth2 for account, poll /bank-accounts/list, invoke /reconcile endpoint.
3.2. Xero
• Feature: Bank Statement API, Reconciliation endpoint
• Sample: Set up bank feeds, run /banktransactions or /reconciliation endpoints.
3.3. SAP Business One
• Feature: Automatic Bank Statement Processing, DI API
• Sample: Schedule DI API /BankStatementImport, compare with /SalesOrderService.
3.4. NetSuite
• Feature: Bank Feeds SuiteApp, Transactions Search API
• Sample: Periodically fetch bank data, match against daily sales via RESTlet.
3.5. Sage Intacct
• Feature: Bank Reconciliation API
• Sample: Automate fetch of /bank_transactions and correlate with Sales Invoice API.
3.6. Zoho Books
• Feature: Bank Feeds, Bank Reconciliation
• Sample: Enable automated feed, access /bankaccounts, use /reconcile API.
3.7. FreshBooks
• Feature: Bank Connection API
• Sample: Authenticate, fetch /bank_accounts/{id}/transactions, run matching script.
3.8. Square POS
• Feature: Transactions API
• Sample: Schedule call to /v2/transactions, match to bank deposit API.
3.9. Shopify POS
• Feature: Orders API, Payouts API
• Sample: Extract sales via /admin/api/orders.json, match to /payouts.json.
3.10. Stripe
• Feature: Balance Transactions API
• Sample: Use /v1/balance_transactions to cross-reference deposits.
3.11. PayPal
• Feature: Transaction Search API
• Sample: Query /v1/reporting/transactions, compare with POS data.
3.12. Plaid
• Feature: Transactions endpoint
• Sample: Pull /transactions/get for banking, link with sales.
3.13. Brex
• Feature: Bank Transactions API
• Sample: Fetch /accounts/transactions, align with POS sales.
3.14. Revolut Business
• Feature: Transactions API
• Sample: Scheduled call to /api/1.0/transactions, process against sales report.
3.15. Oracle NetSuite
• Feature: SuiteTalk SOAP/REST, Reconciliation module
• Sample: Batch SOAP call for statements, automate GL matching with sales.
3.16. Microsoft Dynamics 365 Finance
• Feature: Bank Management workspace, Data Entities
• Sample: Trigger periodic bank statement import, execute reconciliation job.
3.17. Lightspeed Retail
• Feature: Payments API
• Sample: Fetch /payments endpoint, cross-check with sales summary.
3.18. Clover POS
• Feature: Orders, Payments API
• Sample: Poll /v3/payments, validate against merchant banking.
3.19. Wave Accounting
• Feature: Bank Transaction endpoint
• Sample: Retrieve /bank-transactions, apply match rules to receipts.
3.20. Braintree
• Feature: Transactions API
• Sample: Use /transactions/search, compare daily settlement to POS totals.
3.21. Intuit Bank Feeds
• Feature: Direct Feed API
• Sample: Fetch statement, auto-compare to QuickBooks POS sales.
3.22. Odoo
• Feature: Bank Sync, Reconciliation Model
• Sample: Schedule cron job for data sync, invoke reconciliation wizard.

Benefits

4.1. Accelerates close-of-day reconciliation, saving hours on manual cross-checking.
4.2. Reduces risk of human errors and revenue leakage.
4.3. Enables real-time discrepancy detection for proactive resolution.
4.4. Strengthens financial audit readiness and reporting compliance.
4.5. Centralizes reconciliation operations across diverse payment and banking platforms.