Payment reconciliation with bank statements

**Purpose**

1.1. Automate payment reconciliation by matching transaction records from amusement machine invoices with incoming bank statement entries to ensure all payments are accounted for, discrepancies detected, and ledgers updated in real time.
1.2. Reduce manual processing, minimize human error, and speed up monthly and daily financial closing for arcade machine wholesale businesses.
1.3. Provide immediate flags for missing payments, duplicate entries, or mismatched amounts, supporting swift resolution and accurate financial reporting.

**Trigger Conditions**

2.1. New bank statement data is uploaded, received, or made available via API.
2.2. Invoice or payment receipt is generated or updated in accounting or ERP system.
2.3. Scheduled triggers (e.g., nightly, hourly) to fetch and process new payment and bank statement data.
2.4. Manual initiation by finance team for on-demand reconciliation.

**Platform Variants**

3.1. **Xero**
• API: GET /banktransactions, POST /reconciliations
• Configuration: Connect bank feeds, schedule recurring fetches, and auto-match to invoice IDs.

3.2. **QuickBooks Online**
• API: QueryBankTransactions, CreateBankReconciliation
• Configuration: Authorize bank & company account, map invoice numbers to transactions, trigger on sync.

3.3. **Sage Intacct**
• Feature: Bank Transaction Matching tool
• Configuration: Automate download & import, set rules for matching invoice refs.

3.4. **SAP S/4HANA**
• API: Bank Statement API, Reconciliation API
• Configuration: Scheduled fetch from bank interface, integrate reconciliation tasks.

3.5. **Oracle NetSuite**
• Feature: Automated Bank Reconciliation SuiteApp
• Configuration: Link bank feeds, configure import schedule, match payment to transaction.

3.6. **Zoho Books**
• API: GET /bankstatements, POST /reconcile
• Configuration: Schedule API sync, match using custom rules (amount, date, ref).

3.7. **Wave**
• Feature: Automated Bank Connections
• Configuration: Enable ‘Auto-Reconciliation,’ review flagged mismatches daily.

3.8. **FreshBooks**
• Feature: Bank Connections, Auto-Match Payments
• Configuration: Auto-import bank data, run matching rules based on client/invoice.

3.9. **Odoo**
• Feature: Bank Statement Import, Payment Matching Rules
• Configuration: Schedule CSV/OFX import, define reconciliation automation.

3.10. **MYOB**
• API: BankTransactions endpoint, Reconciliation Reports
• Configuration: Sync bank feeds, configure triggers for daily auto-matching.

3.11. **Microsoft Dynamics 365**
• Feature: Advanced Bank Reconciliation module
• Configuration: Periodic sync from bank, apply match rules to customer receipts.

3.12. **Stripe**
• API: Balance Transactions, Payouts
• Configuration: Pull payout records, auto-reconcile with invoice/settlement files.

3.13. **PayPal**
• API: Transaction Search, Payouts Reconciliation
• Configuration: Schedule fetch of daily settlements, match to expected receivables.

3.14. **Plaid**
• API: /transactions/get
• Configuration: Fetch latest transactional data, pipe to reconciliation workflow.

3.15. **JP Morgan Access**
• Feature: Bank File Download, API Bank Statements
• Configuration: Secure file/API retrieval, automate import for reconciliation.

3.16. **Braintree**
• API: Transaction Search, Disbursements
• Configuration: Schedule download/export, match payouts to invoices.

3.17. **Revolut Business**
• API: /transactions, /statements
• Configuration: Automate statement fetching, trigger reconciliation by payment received events.

3.18. **HSBCnet**
• Feature: Direct bank feeds, Automated Copy Statements
• Configuration: Fetch scheduled statements, batch process for reconciliation.

3.19. **Fiserv (Cash Management)**
• API: Bank Statement Export
• Configuration: Automate delivery to reconciliation service; map by reference fields.

3.20. **Bank of America CashPro**
• Feature: File Transmission, Direct Connect
• Configuration: Schedule transmission, import to match with AR ledger.

3.21. **Barclays iPortal**
• API: Transaction export
• Configuration: Fetch latest transactions, trigger reconciliation workflows on import.

3.22. **SumUp**
• API: Payouts List
• Configuration: Retrieve payout records, auto-match to receipts and invoices.

**Benefits**

4.1. Increases speed and accuracy of reconciliations, saving finance teams significant manual effort.
4.2. Provides immediate visibility into mismatched or missing payments for faster resolution.
4.3. Reduces financial risk from unnoticed discrepancies.
4.4. Enables real-time financial reporting and analytics on payment flows.
4.5. Supports regulatory compliance by ensuring detailed matching audit trails for every transaction.