Reconcile sales and expenses daily with financial systems

Purpose

1.1. Automate daily reconciliation of sales and expenses by syncing data between POS, accounting, and payment systems to ensure financial accuracy and compliance.
1.2. Identify financial discrepancies immediately, enable quick rectification, and maintain up-to-date records for audits or reporting.
1.3. Streamline financial management for an Anago restaurant, improving decision-making, forecasting, and regulatory compliance.

Trigger Conditions

2.1. Scheduled: Trigger at the end of each business day, e.g., 11:59 PM local time.
2.2. Event-based: Initiate when daily sales are closed in the POS system.
2.3. API webhook: Start upon receipt of daily sales summary or expense transaction from integrated systems.

Platform Variants

3.1. Square POS
• Feature/Setting: Sales summary API — Configure webhook to send daily transactions to update financial records.

3.2. Toast POS
• Feature/Setting: Reporting & Analytics API — Fetch daily sales and export to accounting platforms via batch endpoint.

3.3. Lightspeed
• Feature/Setting: Accounting Export — Map daily sales transactions to Xero or QuickBooks via automated export.

3.4. QuickBooks Online
• Feature/Setting: JournalEntry API — Insert or update daily financial entries matched from POS data.

3.5. Xero
• Feature/Setting: Invoices API — Automate creation of invoices or bills corresponding to daily expenses and income.

3.6. MYOB
• Feature/Setting: General Ledger API — Push daily reconciled data into GL for up-to-date financials.

3.7. NetSuite
• Feature/Setting: Transaction APIs — Sync POS data into NetSuite financial modules automatically each day.

3.8. Sage Intacct
• Feature/Setting: Expense and Revenue API — Automate entry of POS sales, refunds, and expenses.

3.9. SAP Business One
• Feature/Setting: Service Layer API — Ingest daily reconciliation journal entries via HTTP POST.

3.10. Oracle ERP Cloud
• Feature/Setting: General Ledger Integration API — Automate import of sales and expenses data for daily posting.

3.11. Microsoft Dynamics 365
• Feature/Setting: Finance module API — Configure batch integration from POS reports for reconciliation.

3.12. Zoho Books
• Feature/Setting: Bank Transactions API — Auto-match sales deposits and expense withdrawals.

3.13. FreshBooks
• Feature/Setting: Expense API — Pull purchase receipts and attach daily sales data to financial records.

3.14. Shopify POS
• Feature/Setting: Orders API — Retrieve daily sales, push to accounting platforms for reconciliation.

3.15. Stripe
• Feature/Setting: Balance Transactions API — Automate daily sync of card settlements and refunds.

3.16. PayPal
• Feature/Setting: Transactions API — Retrieve daily settlement data for reconciliation with sales.

3.17. Adyen
• Feature/Setting: Settlement Details API — Sync processed payments and deduct fees from revenues.

3.18. Plaid
• Feature/Setting: Transactions API — Auto-fetch bank account inflows and outflows for expense verification.

3.19. Expensify
• Feature/Setting: Expense Reports API — Push daily receipt data for compliance and reconciliation.

3.20. Google Sheets
• Feature/Setting: Sheets API — Log daily POS and expense data, compare, and flag discrepancies via automated script.

3.21. Dropbox
• Feature/Setting: Dropbox API — Store automated reconciliation reports for audit trail.

3.22. Slack
• Feature/Setting: Incoming Webhooks — Send reconciliation success/failure notifications to finance channel.

3.23. Mailgun
• Feature/Setting: Send Email API — Email automated reconciliation reports to managers.

3.24. DocuSign
• Feature/Setting: eSignature API — Automate signature collection for finalized reconciled financial statements.

Benefits

4.1. Eliminates manual entry, reducing human error and workload.
4.2. Ensures real-time financial visibility for stakeholders.
4.3. Enhances compliance with automated, auditable trails.
4.4. Speeds up month-end close processes.
4.5. Detects discrepancies instantly, enabling quick corrections and fraud prevention.