Automated reconciliation of payments with accounting systems

Purpose

1.1. Automate and streamline reconciliation of payment transactions from labs, pharmacies, and partners with accounting systems for precise financial recording.
1.2. Enable automated matching of payment records (bank feed, POS, gateway) to invoices, reducing manual entry and reconciliation errors.
1.3. Automate periodic syncing and reporting for compliance, auditing, and real-time financial visibility.
1.4. Integrate multiple payment sources (bank, card, digital wallet) with ERP/accounting software for unified ledger updates and automatic flagging of anomalies or discrepancies.
1.5. Automate notifications to finance team on unmatched or suspicious transactions.
1.6. Enable automation for preparing reconciliation reports and automatedly exporting them for review.

Trigger Conditions

2.1. Automated detection of new incoming payment transaction in payment gateway, bank feed, or POS system.
2.2. Scheduled time triggers (daily batch, end-of-month, or end-of-quarter).
2.3. Automated creation or update of invoice or payment record in accounting system.
2.4. Manual trigger by finance operator for on-demand reconciliation automation.
2.5. Automated alert initiation upon detection of unmatched payments or system errors.

Platform Variants

3.1. Stripe
• Feature/API: “List Payments” API — automates fetching all transactions; configure API key and payment status filters.
3.2. PayPal
• Feature/API: “List Transactions” API — automates extraction of recent payments; set OAuth2 app and date range.
3.3. QuickBooks Online
• Feature/API: “Create Bank Transaction” & “Get Invoices” APIs — automate reconciliation by matching payment IDs; use client secret and company ID.
3.4. Xero
• Feature/API: “BankTransactions” endpoint — automates syncing transaction data; configure token, set organization.
3.5. SAP S/4HANA
• Feature/API: “Journal Entry” API — automate posting reconciliation entries; set authorization, post journal details.
3.6. Oracle NetSuite
• Feature/API: SuiteTalk SOAP/REST API “getTransaction” — automate pulling transactions; configure integration token.
3.7. FreshBooks
• Feature/API: “Payments” endpoint — automate collections fetch; set API token, customer filters.
3.8. Zoho Books
• Feature/API: “Bank Transactions” API — automates import; configure API key, account ID, reconciliation status.
3.9. Adyen
• Feature/API: “Transaction Details” endpoint — automate fetching settlement/balance files; use merchant account keys.
3.10. Square
• Feature/API: “List Payments” — automate sync; set location ID, OAuth token, date range.
3.11. Braintree
• Feature/API: “Transaction Search” — automate export; configure API credential, filter fields.
3.12. Mollie
• Feature/API: “Payment List” — automate reconciliation based on payment ID; use API key, date filters.
3.13. Sage Intacct
• Feature/API: “ARPayment” and “GLBatch” APIs — automate updating accounts; set authentication and entity codes.
3.14. Plaid
• Feature/API: “Transactions/Get” — automate fetching transactional data from bank feeds; configure client ID, date window.
3.15. Recurly
• Feature/API: “List Transactions” endpoint — automate extraction; API key, account codes.
3.16. Microsoft Dynamics 365
• Feature/API: “Financials/CustomerPayment” API — automate payment-reconciliation matching; use OAuth app registration.
3.17. WooCommerce
• Feature/API: “Order Payments” via REST — automate pull of order/payment data; consumer keys.
3.18. SAP Business One
• Feature/API: “Service Layer/Payments” API — automate pulling payments; user session, object types.
3.19. Wave
• Feature/API: “Payments List” — automate fetch of payment information; configure API token.
3.20. Wise (formerly TransferWise)
• Feature/API: “Statement” endpoint — automate downloading and parsing bank statements; API token, profile ID.

Benefits

4.1. Automated reconciliation minimizes manual financial errors and reduces effort for accounting teams.
4.2. Automation shortens financial close cycles and provides automated real-time financial insights.
4.3. Automator detects anomalies, ensures compliance, and speeds up audit preparation.
4.4. Automating integration across finance software ensures payments are automatically mapped, matched, and posted.
4.5. Automated alerts help the finance team respond instantly to exceptions, supporting proactive investigation.
4.6. Automation boosts transparency, reduces fraud risks, and improves overall operational efficiency in pharmaceutical testing labs.