Automatic reconciliation of incoming payments

Purpose

1.1. Automate the matching of incoming payments to issued invoices to eliminate manual reconciliation.
1.2. Streamline booking processing, ensure accurate accounts receivable status, and expedite service delivery for airbrushing projects.
1.3. Prevent errors from manual matching, accelerate financial reporting, and trigger follow-up actions (notifications, service queue placement).
1.4. Integrate multiple payment channels, allow real-time monitoring, support financial audits.

Trigger Conditions

2.1. Receipt of new payment notification from integrated payment gateway or banking channel.
2.2. Status change event in accounting software (e.g., invoice marked “Paid” or “Partially Paid”).
2.3. Scheduled polling interval discovers new transactions in payment provider or bank feed.

Platform Variants

3.1. Stripe
• Feature/Setting: Webhooks (“invoice.paid” event); configure endpoint for automatic reconciliation on payment success.
3.2. PayPal
• Feature/Setting: Instant Payment Notification (IPN) or Webhooks for “Payment received”; direct workflow trigger.
3.3. Square
• Feature/Setting: Webhooks; event “payment.updated” triggers reconciliation check.
3.4. QuickBooks Online
• Feature/Setting: API “ReceivePayment”; fetch payments and cross-reference with invoice data.
3.5. Xero
• Feature/Setting: API “GET Payments”; use to match payment record to open invoices by reference.
3.6. FreshBooks
• Feature/Setting: “Payment Created” Webhook; initiates reconciliation workflow for new payments.
3.7. Wave
• Feature/Setting: API “Payments List”; scan new payments, match against invoices by customer/email.
3.8. Zoho Books
• Feature/Setting: Webhook “Payment Received”; fires automated reconciliation in invoicing module.
3.9. Revolut Business
• Feature/Setting: Webhook notifications for “new credit transaction”; extract payment info for matching.
3.10. Monzo Business
• Feature/Setting: API polling for “feed” updates; parse incoming transactions and reconcile.
3.11. Wise Business (TransferWise)
• Feature/Setting: Webhooks for “incoming payment”; data consumed for invoice matching.
3.12. GoCardless
• Feature/Setting: Webhooks “payment_confirmed”; triggers invoice reconciliation logic.
3.13. Sage Business Cloud
• Feature/Setting: API “sales_invoices/transactions”; match against outstanding invoices.
3.14. Netsuite
• Feature/Setting: SuiteTalk REST API (“Payment search”); automate matching in back-office.
3.15. SAP Business One
• Feature/Setting: Service Layer OData API (“IncomingPayments”); automate reconciliation on update.
3.16. Salesforce
• Feature/Setting: Payment object update trigger; match to Invoice object for real-time reconciliation.
3.17. Braintree Payments
• Feature/Setting: Webhook “transaction_settled”; automate linking to matching invoice record.
3.18. Mollie
• Feature/Setting: Webhook “payment.paid”; retrieve payment details and auto-match by reference.
3.19. Authorize.Net
• Feature/Setting: Silent Post or Webhooks; detect successful payments and reconcile to corresponding invoices.
3.20. Intuit Payments
• Feature/Setting: API “CreatePayment”; poll or subscribe to updates for automated linkage to invoices.
3.21. HSBC/Barclays Open Banking
• Feature/Setting: API “transactions endpoint”; ingest and parse credits by reference field for invoice match.
3.22. Adyen
• Feature/Setting: Webhook “AUTHORISATION”; process event for matching with open invoice via custom reference.

Benefits

4.1. Minimizes errors in payment allocation, reducing time spent on reconciliation.
4.2. Accelerates service release or fulfillment by immediate recognition of cleared payments.
4.3. Provides up-to-date financial snapshots for airbrushing business management.
4.4. Supports audit readiness and regulatory compliance with accurate financial records.
4.5. Enhances customer satisfaction with faster confirmation of bookings and orders.