Reconciling received payments with accounting systems

Purpose

1.1. Automatically match customer payment transactions received via bank, payment gateway, or manual entry to outstanding invoices in the accounting system.
1.2. Detect discrepancies or unmatched payments for prompt review.
1.3. Update invoice statuses, issue receipts, and synchronize records, reducing manual effort and errors.
1.4. Provide real-time dashboards for finance staff and integrate payment confirmation alerts with customer relationship management.
1.5. Ensure compliance with internal controls and audit trail requirements in billing and payment cycles.

Trigger Conditions

2.1. New payment received in corporate bank account, payment gateway, or POS system.
2.2. Invoices marked as unpaid within the accounting system.
2.3. Scheduled time-based batch reconciling (e.g., nightly processing).
2.4. Manual staff trigger for reconciling upon bulk file or statement upload.
2.5. API webhook from payment providers or banks.

Platform Variants

3.1. SAP
• Function: BAPI_ACC_DOCUMENT_POST for transactional posting / SAP PI integration for payments.

3.2. Oracle NetSuite
• Function: SuiteTalk SOAP/REST API — Transaction resource, Payment Application endpoint.

3.3. QuickBooks Online
• API: /v3/company/{companyId}/receivepayment; configure webhook for payment-created.

3.4. Xero
• API: POST /api.xro/2.0/Payments; paymentReceived Push Notification.

3.5. Microsoft Dynamics 365
• Feature: Data Integrator, Finance & Operations Payment Journal sync, connector to bank reconciliation.

3.6. Stripe
• API: /v1/charges, /v1/payment_intents; webhook for charge.succeeded.

3.7. PayPal
• API: GET /v1/reporting/transactions; webhook for PAYMENT.SALE.COMPLETED.

3.8. Sage Intacct
• API: create_payment, read_invoice, read_customer; Bank Reconciliation app.

3.9. FreshBooks
• API: /payments endpoint; Payment-Received notification.

3.10. Zoho Books
• API: /customerpayments, /invoices; Webhook for payment notification.

3.11. Wave
• API: POST /payments; Payments event triggers.

3.12. Square
• API: ListPayments endpoint, webhook for payment.updated.

3.13. Revolut Business
• API: GET /transactions, push webhook on payment.

3.14. Plaid
• Feature: Sync Transactions with Auth endpoint for real-time bank statement data.

3.15. GoCardless
• API: GET /payments, mandate webhook for payment_confirmed.

3.16. Adyen
• API: /payments/details, webhook for AUTHORISATION and SETTLEMENT report.

3.17. HSBCnet
• Feature: Automated Statement Download SFTP/API, configure polling scheduler.

3.18. Fiserv
• API: AccessOne Payment Management, daily aggregate payment file API.

3.19. Bank of America CashPro
• Feature: REST API for balance and transaction data; configure bulk download jobs.

3.20. Intuit Merchant Services
• API: Retrieve Deposit endpoint, settlement notification webhooks.

3.21. SAP Concur
• API: PaymentBatchImport resource; webhook payment sync.

3.22. Tipalti
• API: getPayments, getInvoices, automated reconciliation logic.

3.23. Open Banking (PSD2 APIs)
• Feature: Account Information Service (AIS), API: /transactions for account sync.

Benefits

4.1. Minimizes manual errors and accelerates payment recognition.
4.2. Provides immediate exception alerting for unmatched or partial payments.
4.3. Frees finance staff from tedious cross-checking and bulk data entry.
4.4. Strengthens audit trails and compliance.
4.5. Enables real-time reporting and cash flow visibility.
4.6. Facilitates scalable, accurate financial operations for anodizing services and related corporate needs.
4.7. Supports robust multi-system interoperability for global and regional processing.