Integration of payments into accounting software

Purpose

1.1. Automate data transfer of tenant payments from payment processors into accounting systems, ensuring real-time financial reporting, reducing manual entry, error rates, reconciliation time, and supporting audit-ready records for apartment buildings under corporate management in the residential sector.
1.2. Streamline rent collection, automate fee tracking, and improve transparency between payment events and the organization's general ledger.
1.3. Enable seamless connections between property management portals, payment gateways, and accounting software, allowing synchronized updates and notifications.

Trigger Conditions

2.1. Payment received event via gateway (credit, debit, ACH).
2.2. Settlement confirmation from payment provider.
2.3. Monthly or scheduled batch export.
2.4. Invoice marked as paid within property management system.
2.5. Manual sync initiated by accounting or property manager.

Platform Variants

3.1. Stripe
• Feature/Setting: “PaymentIntent succeeded” webhook to notify of successful payments; configure Webhooks endpoint in Stripe Dashboard → Developers → Webhooks.
3.2. PayPal
• Feature/Setting: “Payment Captured” API event; configure IPN listener under PayPal Developer’s portal.
3.3. Square
• Feature/Setting: Use “Payments” v2 API; configure Webhook for “payment.created” event.
3.4. QuickBooks Online
• Feature/Setting: “Create Journal Entry” API; configure OAuth2 for secure connection and assign tenant/customer IDs.
3.5. Xero
• Feature/Setting: “Invoices API – PUT paid”; configure with JWT app for real-time update upon payment.
3.6. FreshBooks
• Feature/Setting: “Payments POST /payments” endpoint; connect client and payment reference.
3.7. AppFolio
• Feature/Setting: Use accounting partner API to POST transactional data to general ledger.
3.8. Yardi Voyager
• Feature/Setting: Web Service Integration with “GL Transaction Import”; map payment data file.
3.9. Buildium
• Feature/Setting: “Bank Transactions” API; configure payment webhook for reconciliation.
3.10. Rent Manager
• Feature/Setting: “Transaction API – POST”; associate tenant and unit data.
3.11. Oracle NetSuite
• Feature/Setting: “REST Record Service” for journal entry; trigger per transaction.
3.12. SAP Business One
• Feature/Setting: Service Layer “Journal Entry” endpoint; batch process via scheduled jobs.
3.13. Zoho Books
• Feature/Setting: “Payments – Create” API; map apartment unit to customer object.
3.14. Sage Intacct
• Feature/Setting: “API ARPAYMENT” function for receipt import; configure in Web Services.
3.15. Wave Accounting
• Feature/Setting: “POST Payments” API; map with customer email/ID.
3.16. Plaid
• Feature/Setting: Use “Transactions Webhook” to detect direct debits; forward data to accounting platform.
3.17. Melio Payments
• Feature/Setting: “Webhook: payment_paid”; push to accounting software via secured API.
3.18. GoCardless
• Feature/Setting: “Payments API – Credited” webhook; auto-sync with accounting system.
3.19. Rentec Direct
• Feature/Setting: “Bank Sync” integration for automatic payment imports to ledger.
3.20. RealPage
• Feature/Setting: “Receivables API”; connect via middleware for invoice matching.
3.21. Dwolla
• Feature/Setting: “Transfer Completed” webhook event; configure endpoint to relay info to accounting server.

Benefits

4.1. Removes repetitive data entry and minimizes human error.
4.2. Ensures real-time updates, aiding cash flow visibility.
4.3. Accelerates reconciliation and monthly closing processes.
4.4. Maintains audit trails and documentation compliance.
4.5. Supports scalability for growing property portfolios.
4.6. Improves resident experience by reducing payment posting delays.
4.7. Centralizes financial data across multiple apartments and payment platforms.
4.8. Reduces IT support costs by standardizing integrations.
4.9. Facilitates detailed financial analytics for corporate decision-making.
4.10. Enables automated alerts and escalations when inconsistencies arise.