Finance & ReportingPurpose
1.2. Identify discrepancies or unpaid invoices by matching ERP records with actual bank transactions.
1.3. Accelerate cash application and reporting cycles, reduce errors in revenue recognition, and standardize reconciliation workflows.
1.4. Enable real-time monitoring of bank movements related to customer settlements and supplier payments.
Trigger Conditions
2.2. Generation or update of accounts receivable records in ERP/finance system.
2.3. Scheduled batch reconciliation process (e.g., nightly or end-of-day).
2.4. Manual staff trigger to force reconciliation for specific accounts or periods.
2.5. Notification of unmatched or suspicious transactions in banking feed.
Platform variants
• Feature/Setting: Use “Balance Transactions API” to fetch and reconcile payments; configure webhook for successful charges.
3.2. Plaid
• Feature/Setting: “Transactions/Get” endpoint for continuous transaction feeds; set up periodic polling for new entries.
3.3. Tink
• Feature/Setting: Use “Transactions List” API; configure account-level webhooks for payment events.
3.4. Yodlee
• Feature/Setting: “Get Transactions” API; set widget to pull daily statement updates.
3.5. QuickBooks Online
• Feature/Setting: “Bank Transactions API” for automatic feeds; define bank rule mappings for reconciliation.
3.6. Xero
• Feature/Setting: “Bank Transaction Endpoints”; configure “Bank Statement Lines” for automated matching.
3.7. SAP S/4HANA
• Feature/Setting: “Bank Statement Automation Integration” via Fiori app; set up scheduled imports.
3.8. Oracle NetSuite
• Feature/Setting: “Bank Data Import” feature; connect to bank’s SFTP/API for automatic data fetching.
3.9. Sage Intacct
• Feature/Setting: “Bank Transactions” API; scheduled sync to retrieve daily new payments.
3.10. FreshBooks
• Feature/Setting: Connect “Bank Reconciliation” tool; auto-import bank transactions to match invoices.
3.11. JPMorgan Chase API (Open Banking)
• Feature/Setting: Pull “Transaction Details” via REST; enable push notifications for credits.
3.12. Wells Fargo Gateway
• Feature/Setting: “Real-Time Payments API”; monitor for incoming payments and output to back-office.
3.13. HSBC NetConnect
• Feature/Setting: “Statement API”; configure auto-download process for end-of-day (EOD) reports.
3.14. Barclays Bank API
• Feature/Setting: “Account Transaction Feed”; poll for new transactions in ADM format.
3.15. Finbox
• Feature/Setting: “Automated Bank Feed”; set up webhook to push daily payment data.
3.16. Zoho Books
• Feature/Setting: “Bank Feeds” module; periodic import to cross-match payments with invoices.
3.17. Revolut for Business
• Feature/Setting: “Transaction History” API; establish polling for real-time updates.
3.18. Wise (TransferWise)
• Feature/Setting: “Transaction API”; scheduled pull for matched reference payments.
3.19. Pleo
• Feature/Setting: Expense management via “Bank Sync”; receive real-time payment info for reconciliation.
3.20. Square
• Feature/Setting: “Payments API”; configure webhook for completed transfer events to your account.
3.21. SAP Business One
• Feature/Setting: “Bank Statement Processing”; automatic bank file import configuration.
3.22. Fiserv
• Feature/Setting: “Enrichment API” for automated matching between bank data and AR ledgers.
Benefits
4.2. Enables near real-time detection of overdue invoices and financial discrepancies.
4.3. Improves cash flow visibility for agrochemical suppliers in wholesale.
4.4. Ensures audit-readiness by standardizing reconciliation documentation.
4.5. Reduces settlement times and provides instant escalation for unmatched payments.
4.6. Facilitates timely reporting and regulatory compliance in the agriculture industry.