Automated reconciliation of received payments with accounting software

Purpose

1.1. Enable seamless matching of received payments from clients with entries in accounting systems for agistment services, ensuring accuracy in financial records, reducing manual errors, improving billing efficiency, and supporting audit compliance for grazing leases and animal-related transactions.

Trigger Conditions

2.1. Payment notification received via bank feed, payment gateway, or direct transfer.
2.2. New invoice created or updated in the accounting system.
2.3. Scheduled time-based reconciliation (e.g., daily at midnight).
2.4. Manual request for reconciliation by finance staff.

Platform Variants

3.1. Xero Accounting
• API: Use GET /bankTransactions for fetching bank feeds, POST /reconciliations to reconcile payments with invoices.

3.2. QuickBooks Online
• API: Use Payments API for fetching received payments, Invoices API for retrieving outstanding invoices, Sync APIs for update.

3.3. MYOB
• API: /banktransactions endpoint for obtaining payment transactions, /sale/invoice endpoint for invoice matching.

3.4. Stripe
• Webhook: Listen to payment_intent.succeeded to trigger reconciliation, Use Balance API for matching to invoices.

3.5. PayPal
• Webhook: PAYMENT.SALE.COMPLETED event as trigger, Use Invoicing API to pull invoice references.

3.6. Square
• Webhook: payment.updated event as trigger, Orders API for identifying invoice associations.

3.7. Zoho Books
• API: getPayments for payment data, matchInvoices for reconciliation automation.

3.8. Sage Business Cloud
• API: Banking Transactions GET for retrieving payments, Invoices GET for reconciliation process.

3.9. FreshBooks
• API: Payments endpoint to fetch transactions, Invoices endpoint to pair invoice with payment.

3.10. Wave
• API: GET /payments for new payments, POST /reconciliation to match with outstanding invoices.

3.11. SAP Business One
• Service Layer: BankStatementsService for payment entry, InvoicesService for invoice fetch and reconciliation.

3.12. Oracle NetSuite
• REST API: customerPayment endpoint for new payments, invoice endpoint for reconciliation logic.

3.13. Wise (formerly TransferWise)
• Webhook: transfer.status.changed event, GET /account-statements for payment info, sync to accounting software.

3.14. Plaid
• Webhook: TRANSACTIONS webhook for payment entry, use Transactions/get API to pull bank-level payments.

3.15. Adyen
• Webhook: AUTHORISATION event as trigger, API for payout and merchant references mapping.

3.16. GoCardless
• Webhook: payment_confirmed trigger, Mandates API for customer match, Reconciliation API for posting.

3.17. Braintree Payments
• Webhook: Transaction Disbursed event triggers, Transaction API for detail fetch.

3.18. Chargebee
• Webhook: payment_succeeded trigger, Invoices API for linking payment and invoice records.

3.19. Revolut Business
• API: /transactions endpoint to read payments in, /invoices endpoints for cross-check.

3.20. Odoo Accounting
• XML-RPC: account.payment model to fetch payment, account.move model to fetch and match invoices.

3.21. Bill.com
• API: GET /Payments for pulling payment data, POST /Bill for invoice update.

3.22. HSBCnet (corporate banking)
• API: Account Transaction API for incoming funds, E-invoicing API for invoice retrieval, reconciliation via ERP integration.

Benefits

4.1. Eliminates manual data entry and reduces accounting errors in grazing lease payments.
4.2. Ensures real-time, accurate financial overviews for agistment service providers.
4.3. Minimizes payment disputes and accelerates receivables.
4.4. Enhances audit readiness and regulatory compliance for animal services operations.
4.5. Frees finance teams to focus on higher-value analytical tasks.