Automated payment reconciliation with accounting software

**Purpose**

1.1. Automate the matching of payments received (bank deposits, credit, or insurance remittance) with corresponding invoices in accounting and EHR/billing software for improved cash flow, rapid revenue cycle management, lower administrative burden, minimized human error, and increased compliance in addiction treatment centers.
1.2. Ensure accurate posting of patient payments, insurance reimbursements, and co-pays to correct patient accounts and update financial ledgers in real-time, integrating multiple payment processors, banks, and accounting platforms.
1.3. Detect and flag discrepancies, partial payments, or missing remittances, triggering alerts and actionable workflows to billing teams for resolution.

**Trigger Conditions**

2.1. Receipt of payment in bank account or payment processor (ACH, EFT, wire transfer, credit card settlement).
2.2. Settlement notification from insurance EDI (835, ERA).
2.3. Invoice marked as “Paid” in EHR or practice management system.
2.4. Batch file import of payment statements.
2.5. Scheduled daily or hourly reconciliation task start.

**Platform Variants**

3.1. **QuickBooks Online**
• Feature: Bank Feed + API (`/v3/company//banktransactions/read`).
• Sample: Poll or webhook on new bank transactions; cross-match amount, payee, and memo to invoice.
3.2. **Xero**
• Feature: Banking API (`GET /banktransactions`, `POST /banktransactions/match`).
• Sample: Auto-create or match transactions every hour via webhook.
3.3. **Sage Intacct**
• Feature: Cash Management API (`read`, `create_payment`, `match`).
• Sample: Trigger on bank transaction, match reference or amount, post payment.
3.4. **Netsuite**
• Feature: SuiteTalk REST (`record/v1/transaction/customerPayment`).
• Sample: Listen for new fund entries, auto-apply to invoices.
3.5. **Zoho Books**
• Feature: Banking module API (`/banktransactions`, `/bankaccounts/transactions`).
• Sample: Fetch new transactions; reconcile by transaction and invoice IDs.
3.6. **FreshBooks**
• Feature: Payments API (`GET /payments`, `POST /payments/reconcile`).
• Sample: Push payment info to client records and mark invoice as paid.
3.7. **Wave Accounting**
• Feature: Transactions API (`GET /businesses/{business_id}/transactions`).
• Sample: Reconcile new deposits with invoice records.
3.8. **TheraNest**
• Feature: Billing API (`GET /api/v2/payments/all`).
• Sample: After payment receipt, apply payment to open invoices via API.
3.9. **Kareo**
• Feature: Payments Endpoint (`GET /v1/payments`).
• Sample: Real-time sync of insurance EOB/EFT to financial ledgers.
3.10. **SimplePractice**
• Feature: Payments API (`GET /api/v1/payments`).
• Sample: Monitor for payment status changes and update accounting.
3.11. **Athenahealth**
• Feature: Financial Transactions API (`GET /v1/payments`).
• Sample: Auto-reconcile incoming insurance/credit card payments.
3.12. **AdvancedMD**
• Feature: EOB/ERA Import (`/api/financial/eob/import`).
• Sample: Import and match payer remittances to ledgers.
3.13. **TherapyNotes**
• Feature: Payments API (`GET /payments`).
• Sample: Scheduled pull of payment data to cross-reference invoices.
3.14. **Stripe**
• Feature: Events Webhook (“payment_intent.succeeded”, “charge.succeeded”).
• Sample: When triggered, post payment to accounting software API.
3.15. **Square**
• Feature: Transaction API (`GET /v2/payments`).
• Sample: On new deposit, match payment with outstanding invoices in PMS.
3.16. **PayPal**
• Feature: Webhooks (“PAYMENT.SALE.COMPLETED”); `/v2/payments`.
• Sample: Receive payment data in real time and reconcile.
3.17. **Plaid**
• Feature: Transactions Webhook + GET `/transactions/get`.
• Sample: Detect new deposits, query metadata, and automate invoice matching.
3.18. **Bank of America CashPro**
• Feature: API for cash management file download/reconciliation.
• Sample: Import daily statements, auto-reconcile with ledgers.
3.19. **JP Morgan Access**
• Feature: Payments File API (MT940/BAI2 data download, SFTP integration).
• Sample: Scheduled batch file import, parse line items, and trigger matching to invoices.
3.20. **Epic Systems (EHR)**
• Feature: Payment Posting API (`POST /PatientPayment`).
• Sample: EDI 835 event triggers API posting to accounting software for reconciliation.
3.21. **Therabill**
• Feature: ERA Automation (“835 Remittance Auto-post”).
• Sample: Automatically post insurance remittances and update open items.
3.22. **PaySimple**
• Feature: Payment Received Webhook.
• Sample: When payment received, immediately reconcile with customer charge history.

**Benefits**

4.1. Significantly reduces manual data entry and risk of posting errors.
4.2. Improves cash flow visibility and financial reporting accuracy.
4.3. Accelerates revenue cycle with faster posting and error resolution.
4.4. Enhances compliance for audits through full reconciliation logs.
4.5. Boosts staff productivity by reallocating time from reconciliation to patient care or billing follow-up.