Financial ProcessesPurpose
1.2. Verify funds received via banking channels against outstanding balances in finance or ERP systems.
1.3. Generate auto-notifications for mismatches, partial payments, or payment delays to finance teams and account managers.
1.4. Facilitate audit and compliance by providing a verifiable reconciliation log for each transaction.
1.5. Support multi-bank, multi-currency, and multiple funding routes (government, corporate, private) frequently seen in apprenticeship programs.
Trigger Conditions
2.2. Update in accounts receivable ledger or ERP system for apprenticeship invoices.
2.3. Scheduled intervals (e.g., hourly, daily) or end of day finance batch updates.
2.4. Manual override or reconciliation request from finance staff for specific entries.
Platform Variants
3.1. Stripe
• Function: "Balance Transactions" API for incoming payment confirmations
• Configure: Use /v1/balance_transactions endpoint; set up webhook on payment_intent.succeeded.
3.2. PayPal
• Feature: Instant Payment Notification (IPN) callback
• Configure: Enable IPN; configure listener URL in PayPal dashboard.
3.3. QuickBooks Online
• Feature: "Receive Payment" or "Payments" API
• Configure: Poll /v3/company/{companyId}/payment; match payments by InvoiceId.
3.4. Xero
• Function: "BankTransactions" endpoint
• Configure: Use GET /api.xro/2.0/BankTransactions, auto-match against InvoiceID references.
3.5. Oracle NetSuite
• Function: "CustomerPayment" record REST API
• Configure: Query /record/v1/customerPayment; filter for 'undeposited' or ‘appliesTo’ fields.
3.6. SAP Business One
• Feature: Service Layer API "Incoming Payments"
• Configure: Invoke GET /Payments; map PaymentInvoices collection for reconciliations.
3.7. Zoho Books
• Function: Payments API
• Configure: Use /payments endpoint; listen for new payment events in webhook settings.
3.8. Sage Intacct
• Feature: "ARPayment" API
• Configure: Call ARPYMT object in XML API; correlate with open invoices by CUSTOMERID.
3.9. FreshBooks
• Function: Automated Payment Notifications
• Configure: Subscribe to “payments.created” event; map payment IDs to invoices.
3.10. Revolut Business
• Feature: Transaction Webhook
• Configure: Set up webhook for new transaction event; collect transaction reference and amount.
3.11. Wise (formerly TransferWise)
• Function: Webhook Notifications for Incoming Payments
• Configure: Activate webhooks on “balance.credit”; parse metadata for sender details.
3.12. HSBC Business Banking
• Feature: CMB API – Transaction Notification
• Configure: Use real-time transaction API; poll for credits and use end-to-end references.
3.13. Barclays Bank APIs
• Function: Account Information Services (AIS)
• Configure: Retrieve real-time transaction data using Open Banking; map beneficiary reference.
3.14. JP Morgan Access
• Function: Cash Management API – Incoming Funds
• Configure: Use GET /transactions; reconcile against outstanding receivables.
3.15. Plaid
• Feature: “Transactions” API
• Configure: Call /transactions/get endpoint; process new credits to mapped account numbers.
3.16. GoCardless
• Function: Payment Confirmed Webhook
• Configure: Register webhook for payment_confirmed; use mandate reference in reconciliation process.
3.17. Mollie
• Feature: Payments API with Webhook
• Configure: Set webhook on /v2/payments; correlate amount and description for invoice match.
3.18. Square
• Function: “ListPayments” endpoint
• Configure: Poll /v2/payments; check transactionId and note fields for account linking.
3.19. Salesforce
• Feature: Financial Services Cloud API
• Configure: Use Financial Transactions object; set workflow on record creation.
3.20. HubSpot
• Feature: CRM Custom Objects and Workflow
• Configure: Create custom Payment object; use workflow to trigger reconciliation on new entry.
Benefits
4.2. Enables timely identification and escalation of payment issues.
4.3. Improves financial reporting accuracy and audit readiness.
4.4. Scales with the volume of apprentices and funders without additional staffing costs.
4.5. Enhances visibility for management with real-time dashboards and alerts.