Automated bank reconciliation

Purpose

1.1. Automatically match restaurant bank transactions with sales and expenses from POS, accounting, and vendor systems.
1.2. Identify discrepancies, flag them for review, and post reconciled entries to the general ledger.
1.3. Minimize manual entry, reduce reconciliation errors, and accelerate end-of-month closings.
1.4. Ensure financial compliance through audit-ready records for government reporting or internal oversight.
1.5. Streamline supplier payments, staff payroll reconciliation, and refund processing via integrated reconciliations.

Trigger Conditions

2.1. New bank statement data imported or fetched (via direct feeds, files, or API).
2.2. POS or accounting system posts daily sales reports.
2.3. Scheduled batch process at day end, week end, or month end.
2.4. Manual trigger by finance staff for urgent reconciliations.
2.5. Receipt of payment confirmation or refund notification.
2.6. Automated alert from compliance module indicating pending reconciliation.

Platform Variants

3.1. Intuit QuickBooks
• Bank Feeds: Enable automatic fetching of transactions via Banking > Link Account, configure rule-based matching.

3.2. Xero
• Bank Reconciliation API: Set up with "GET /bankstatements" and "POST /reconciliation" for automated match and posting.

3.3. Sage Business Cloud
• Bank Integration: Use Bank Feeds → Connect New Feed, configure auto-matching rules for sales/purchases.

3.4. Oracle NetSuite
• Bank Data Import/AutoMatch: Configure Bank Data SuiteApp for scheduled import and AutoMatch rules.

3.5. SAP Business One
• Electronic Bank Statement Import: Use Import Tool, set matching algorithm parameters in reconciliation settings.

3.6. Zoho Books
• Banking Module: Configure direct bank feeds and set up Match Rules under Banking > Rules.

3.7. Wave Accounting
• Transactions Sync: Enable bank connection and configure auto-categorization rules in Transactions settings.

3.8. FreshBooks
• Bank Connection: Add bank account, activate automatic imports, set match preferences in settings.

3.9. MYOB
• Bank Feeds: Enable feed via Bank Feeds menu, define allocation and matching automation.

3.10. Plaid
• Transactions API: Configure "GET /transactions/get" and webhook for transaction updates to trigger downstream reconciliation.

3.11. Yodlee
• Bank Statement Retrieval: Use FastLink to connect accounts, fetch daily transactions with "GET /transactions".

3.12. Stripe
• Balance Transactions API: Use "GET /v1/balance_transactions" to pull payout, refund, transfer data for reconciliation.

3.13. PayPal
• TransactionSync API: Use "transactionSearch" endpoint to regularly fetch all recent activity.

3.14. Square
• Transactions API: Configure "ListTransactions" and set up webhook for payments/settlements.

3.15. Toast POS
• Daily Sales Export: Use "Export Daily Summary" or API to push sales data to accounting.

3.16. Revel Systems
• API Integration: Set "GET /transactions" and schedule push to accounting system.

3.17. Lightspeed POS
• Financial Report Export: Schedule automated end-of-day sales report to cloud accounting.

3.18. Microsoft Dynamics 365
• Data Management: Use "Bank Reconciliation" workspace, configure Electronic Reporting for connection to financial institution.

3.19. JD Edwards (Oracle)
• Bank Account Reconciliation Module: Setup automatic import and matching via Electronic Bank Statement processing.

3.20. Odoo
• Bank Synchronization: Configure connection under Accounting > Bank Accounts, set rules in "Reconcile Transactions".

3.21. QuickFile
• Open Banking Feed: Enable feeds, auto-tagging for payments/receipts.

3.22. InfiniPOS
• Custom Export Scheduler: Configure scheduled export of payment batch data for import into reconciliation system.

3.23. Alibaba Cloud Finance APIs
• Transaction Data Sync: Set up scheduled pulls for recent transactions; configure reconciliation logic via Cloud Functions.

Benefits

4.1. Eliminates human error and manual data entry across multiple financial platforms.
4.2. Speeds up monthly and annual closing cycles for Anhui cuisine restaurants.
4.3. Provides real-time discrepancy alerts ensuring accurate bookkeeping and audit readiness.
4.4. Frees up finance staff for higher-level analysis and strategic planning.
4.5. Seamlessly meets requirements for internal controls and external regulatory compliance.
4.6. Reduces fraud and duplicate refund/payments with automated anomaly detection.
4.7. Enables scalability with minimal change as business or outlet locations expand.