Reconciliation of paid invoices with accounting system

Purpose

1. Automate end-to-end reconciliation of paid invoices by matching payments recorded in external payment gateways or banks with issued invoices in the accounting system.

2. Detect missing, late, or duplicate payments for gas installation services, generating real-time alerts for revenue assurance.

3. Ensure accounting records automatically reflect current payment statuses, reducing manual errors and accelerating closing cycles.

Trigger Conditions

1. New payment records detected in integrated payment platforms, such as Stripe, PayPal, or bank feeds.

2. New invoice marked "paid" or "partially paid" in ERP or accounting software.

3. Automated batch process scheduled (e.g., daily at 2am) to compare payment transactions with outstanding invoices.

Platform Variants

1. QuickBooks Online

• Feature/Setting: Use API function Invoice.get and Payment.get; automatically retrieve, match, and update invoice statuses.
  

2. Xero

• Feature/Setting: Use Invoices API (GET /invoices, GET /payments); automate reconciliation via webhook triggers.
  

3. Sage Intacct

• Feature/Setting: API: ARInvoice/ARPayment; automate process to cross-reference transactions and update AR.
  

4. FreshBooks

• Feature/Setting: GET /invoices, GET /payments endpoints automate invoice/payment matching and reconciliation.
  

5. Zoho Books

• Feature/Setting: Use /invoices and /customerpayments API; automate reconciliation flows between payments and invoices.
  

6. Microsoft Dynamics 365 Business Central

• Feature/Setting: Automate invoice and payment retrieval via Financials API; reconciliation automation using scheduled flows.
  

7. SAP Business One

• Feature/Setting: Service Layer API, automate reconciliation using InvoiceService and IncomingPaymentsService.
  

8. NetSuite

• Feature/Setting: REST API (GET /record/v1/invoice, GET /record/v1/customerPayment); automate reconciliation job.
  

9. Oracle Fusion Cloud ERP

• Feature/Setting: REST API for Receivables Invoices and Receipts; automated workflows for matching and updating records.
  

10. Wave

• Feature/Setting: Automate via Invoices and Payments API, matching payments automatically with outstanding invoices.
  

11. Square

• Feature/Setting: Payments API, Orders API; automate matching Square settlements to invoices.
  

12. Stripe

• Feature/Setting: Use Charges API, Invoices API; automate detection of paid status and reconciliation with system invoices.
  

13. PayPal

• Feature/Setting: Transaction API and Invoicing API; automate cross-matching of completed payments and issued invoices.
  

14. Plaid

• Feature/Setting: Transactions endpoint; automate retrieval of bank records for invoice payment reconciliation.
  

15. Wise (TransferWise)

• Feature/Setting: Account Statements API, automate processing of payment receipts for invoice match-ups.
  

16. Bill.com

• Feature/Setting: PAYMENTS API, automate invoice status updates when payments post.
  

17. HubSpot

• Feature/Setting: Deals API; automate reconciliation if invoice and payment data are managed in deals/objects.
  

18. Salesforce

• Feature/Setting: Opportunity & Payment Objects; automate triggers and flows to mark paid invoices as reconciled.
  

19. SAP Concur

• Feature/Setting: Invoice and Payment APIs automate payment data ingestion and reconciliation with invoices.
  

20. Expensify

• Feature/Setting: Reports and Payments API; automate process to reconcile reimbursed invoices with actual disbursements.
  

Benefits

1. Automates detection of payment mismatches, invoice aging, and partial settlements.

2. Automated reconciliation reduces manual workload and data entry errors.

3. Automation accelerates monthly close, ensuring accurate revenue reporting.

4. Improves cash flow monitoring with real-time, automated updates to financials.

5. Automating reconciliation enables scalable, auditable, and compliant processes.

6. Automated flows free staff to focus on value-add tasks and exception management.

7. Automator configuration increases reliability for high-frequency utility service payments.

8. Enhanced automation ensures customer satisfaction by reflecting up-to-date account status.