Automated daily reconciliation of sales and payments

Purpose

1. Automates the process of reconciling daily sales and payments from multiple sources, aggregating transaction data, matching sales versus payments, highlighting discrepancies, and generating summary reports for accounting and audit readiness.

2. Enables automated detection of missed or duplicate payments, supporting rapid rectification and preventing financial errors.

3. Provides automated integration with POS, bank feeds, e-commerce platforms, and payment gateways to streamline financial operations for cash and carry wholesalers in the food & beverage sector.

Trigger Conditions

1. Time-based automation: triggers at preset times (e.g., daily at midnight).

2. Event-based automation: triggers when new transactions are added to sales, bank, or payment systems.

3. Manual or workflow-initiated automation: reconcilers can trigger the process on demand if needed.

Platform Variants

1. QuickBooks Online

• API: "Reports API" to automate extraction of sales data; "BankFeeds API" for automated payment entries.
  

2. Xero

• Feature: "GET /reports/BankReconciliation" API for automated matching logic.
  

3. Sage Business Cloud

• API: "Bank Reconciliation" endpoint for automated comparison.
  

4. Square POS

• API: "Payments API" to automate sales and refund data retrieval.
  

5. Shopify

• Feature: "Admin API Orders" and "Payouts API" to automate daily sales and treasury reconciliations.
  

6. Stripe

• Feature: "Balance Transactions API" to automate retrieval of payment settlement details.
  

7. PayPal

• API: "Transactions Search API" for automating payment history pulls.
  

8. FreshBooks

• Feature: "Accounting API" to automate invoice, payment, and expense matching.
  

9. Zoho Books

• API: "Bank Reconciliation API" for automated process execution.
  

10. Oracle NetSuite

• API: "Transaction Search API" and "Bank Statement Import" for automating data input and matching.
  

11. SAP Business One

• Feature: "Electronic Banking Integration" to automate reconciliation flows.
  

12. Microsoft Dynamics 365

• API: "Financials API" to automate matching sales invoices and bank payment records.
  

13. WooCommerce

• Feature: "REST API Orders and Payments" for automated extraction and reconciliation flows.
  

14. Amazon Seller Central

• API: "Finance API" to automate settlement, fees, and refund reconciliation.
  

15. Revolut Business

• API: "Transactions" endpoint for automating bank statement feeds.
  

16. Wise Business

• Feature: "Statements API" to automate pulling statements into reconciliation pipelines.
  

17. HSBCnet

• API: "Bank Feed API" for automatedly sourcing transaction data for reconciliation.
  

18. Barclays API

• Feature: "Accounts and Transaction" endpoints for automated feed collection.
  

19. Mollie Payments

• API: "Payments API" for automating transaction verification and matching.
  

20. Adyen

• Feature: "Settlement API" for automated fee and funds flow reconciliation.
  

21. Worldpay

• API: "Transactions Export" for automatable data retrieval and matching.
  

22. Clover POS

• API: "Payments API" for automated daily transaction extraction and reconciliation.
  

Benefits

1. Automates detection of discrepancies and enables real-time mismatch alerts.

2. Eliminates manual reconciliation tasks, reducing errors and speeding up end-of-day closing.

3. Centralizes multi-source reconciliation and automates historical archiving for audits.

4. Enables seamless integrations with ERP, back-office, and external accounting automation.

5. Provides greater transparency and accountability through automated reporting and audit trails.