Automated accounts receivable and payable reconciliation

Purpose

1. Ensure accurate, up-to-date matching of accounts receivable (invoices, credit notes) and accounts payable (bills, vendor credits) for an aluminum window manufacturer.

2. Eliminate manual errors and streamline month-end close by automating data extraction, validation, reconciliation, and reporting between ERP, banks, customer portals, and supplier networks.

3. Enable real-time exception flagging, automated notifications, and audit-log generation for internal and external compliance.

4. Increase finance team efficiency and provide management visibility into working capital and cash flow positions.

Trigger Conditions

1. Receipt of bank transaction files or statements via SFTP, email, or bank API integration.

2. New or updated invoice/bill entry in ERP, CRM, or invoicing platform.

3. Scheduled event (e.g., nightly, weekly) for full reconciliation batch processing.

4. Manual initiation by finance team from a dashboard to process ad hoc reconciliations.

Platform Variants

1. SAP S/4HANA

• API: /API_AP_RECEIVABLES_SRV and /API_AP_PAYABLES_SRV for fetching open items for automation.
  
• Configuration: Set periodic polling; configure 'Clearing Document' posting.
  

2. Oracle NetSuite

• Saved Search API: Transaction search with "Type = Invoice" and "Type = Bill".
  
• Webhook: Real-time trigger on AR/AP record creation or modification.
  

3. Microsoft Dynamics 365 Finance

• Data Entities: CustomerPayments, VendorInvoice, and BankStatement entities for import/export.
  
• Feature: Scheduled Data Integrations to sync with external bank feeds.
  

4. QuickBooks Online

• Endpoint: /v3/company/{companyId}/invoice and /bill
  
• Feature: Webhooks for real-time updates; API for pulling open balances.
  

5. Xero

• API: GET /invoices, GET /banktransactions
  
• Feature: OAuth2 for secure data access; webhooks for event-driven sync.
  

6. Sage Intacct

• API: ARINVOICE and APBILL objects for invoice/bill events.
  
• Function: XML-based API calls for batch reconciliation.
  

7. Zoho Books

• API: Invoices, Bills, and Bank Transactions endpoints.
  
• Configuration: Schedule cron jobs or use webhooks.
  

8. FreshBooks

• API: /invoices, /payments, /expenses endpoints for finance automation.
  
• Feature: Event-based triggers for new bills/invoices.
  

9. Wave Accounting

• API: GET /businesses/{businessId}/payments
  
• Scheduled: Nightly automated reconciliation jobs.
  

10. Stripe

• Endpoint: Balance Transactions and Payouts APIs for payments settlement check.
  
• Feature: Webhook for successful payment events.
  

11. PayPal

• NVP/SOAP API: Transaction Search for inflows/outflows.
  
• Webhook: Trigger on transaction status update.
  

12. Plaid

• Product: Transactions API—fetch cleared bank transactions automatically.
  
• Configuration: Scheduled pull or event-based triggers.
  

13. Wise (TransferWise)

• Open Banking API: Pull statements for matching vendor/client settlements.
  
• Setting: Automated periodic statement delivery.
  

14. Bill.com

• API: GET /invoices, GET /bills
  
• Webhook: Notification on status change to Paid/Unpaid.
  

15. Salesforce

• Object: AR and AP custom objects; Process Builder or Flow triggers.
  
• API: SOQL queries for extracting relevant records.
  

16. Odoo

• Model: account.move and account.payment via XML-RPC/JSON-RPC.
  
• Scheduled Action: Automate reconciliation process using server actions.
  

17. SAP Concur

• Endpoint: GET /v1.0/expense/report for accounts payable matching.
  
• Webhook: Trigger when new expense matches approved invoice.
  

18. Bank of America CashPro

• API: Real-time statement delivery for bank reconciliation.
  
• Configuration: Secure file transfer and mapping.
  

19. CitiDirect

• Endpoint: Download/retrieve CAMT.053 statements over API.
  
• Setting: Scheduled pulls for multi-entity matching.
  

20. HSBCnet

• Feature: Host-to-Host API for bank statement delivery.
  
• Scheduled: Nightly auto-import to ERP for reconciliation.
  

Benefits

1. Speed—batch workloads complete in minutes, not days; reduces reconciliation cycle.

2. Accuracy—reduces manual entry errors and compliance issues.

3. Auditability—full tracking of all changes and matching for SOX or IFRS mandates.

4. Cash Visibility—real-time dashboard reporting enhances financial planning.

5. Efficiency—frees staff for value-added analysis and exception-handling.

6. Scalability—accommodate transaction volume spikes seamlessly.