Auto-updates of financial records from banks

Purpose

1.1. Enable real-time, accurate entry of incoming and outgoing bank transactions into accounting systems for animal protection organizations.
1.2. Eliminate manual downloads, data re-entry, and reconciliation by accessing bank APIs or data feeds.
1.3. Support compliance, donor transparency, and timely reporting by ensuring financial records are always up-to-date.
1.4. Streamline financial operations, free staff from repetitive administration, and reduce error rates.

Trigger Conditions

2.1. Detection of new transaction(s) in designated bank account(s).
2.2. Scheduled polling at defined intervals (e.g., hourly, daily).
2.3. Webhook notification received from bank API when new record is posted.
2.4. Manual initiation (for on-demand sync).

Platform Variants

3.1. Plaid
• Feature: Transactions endpoint for account sync
• Setting: Configure `/transactions/get` with access token for relevant accounts.

3.2. Yodlee
• Feature: Data Aggregation API
• Setting: Periodic `GET /transactions` for linked nonprofit bank accounts.

3.3. Salt Edge
• Feature: Data Connect API
• Setting: Query `/transactions` endpoint with account_id for updates.

3.4. Finicity
• Feature: Get Transactions API
• Setting: Fetch transactions via `GET /aggregation/v1/customers/{customerId}/accounts/{accountId}/transactions`.

3.5. Nordigen (GoCardless Bank Data)
• Feature: Transactions API
• Setting: Scheduled `GET /api/v2/accounts/{id}/transactions/`.

3.6. Xero
• Feature: Bank Feeds Integration
• Setting: Map incoming feed to “Bank Reconciliation” module.

3.7. QuickBooks Online
• Feature: Bank Feed Connection
• Setting: Enable “Bank Connections” → assign rules for transaction import.

3.8. FreshBooks
• Feature: Automated Bank Import
• Setting: Link bank via “Bank Connections”, schedule daily imports.

3.9. Sage Intacct
• Feature: Automated Bank Feeds
• Setting: Configure “SmartRules” for auto-sync with statement uploads/API feeds.

3.10. Zoho Books
• Feature: Bank Feed Integration
• Setting: Use “Banking” module and map credentials for automatic sync.

3.11. Wave
• Feature: Bank Connections
• Setting: Secure API login to auto-import transactions each day.

3.12. SAP Concur
• Feature: Bank Transaction Imports
• Setting: Use “Connectors” for financial institutions and schedule imports.

3.13. Oracle NetSuite
• Feature: Bank Feeds SuiteApp
• Setting: Map bank account via SuiteApp and enable auto-import.

3.14. Stripe
• Feature: Balance Transactions API
• Setting: Use `GET /v1/balance/history` to sync donations and payouts.

3.15. PayPal
• Feature: Transaction Search
• Setting: `GET /v1/reporting/transactions` API for direct import.

3.16. HSBC API
• Feature: Direct Bank Feed
• Setting: Configure secure API credentials and set up webhook for posted transactions.

3.17. Bank of America CashPro API
• Feature: Account Transactions Feed
• Setting: Fetch using `/v1/accounts/{accountId}/transactions`.

3.18. BBVA Open Platform
• Feature: Transactions API
• Setting: `GET /transactions` for registered organization account.

3.19. Citi Direct API
• Feature: CitiConnect Transactions
• Setting: Use “Get Transactions” endpoint for periodic bank updates.

3.20. Intuit API
• Feature: Financial Data API
• Setting: Connect via `/v1/bankAccounts/accountId/transactions`.

Benefits

4.1. Up-to-date books for grant audits, board review, and regulatory filings.
4.2. Elimination of manual spreadsheet work, reducing risk of error.
4.3. Greater donor confidence through precision and transparency.
4.4. Time savings for administrative staff to focus on animal welfare actions.
4.5. Immediate detection and flagging of unusual account activity for fraud prevention.