Update accounting software automatically with payment data

Purpose

1. Automate syncing of payment data from rental collection channels to accounting systems, minimizing manual entries and automating reconciliation for rental agencies.

2. Automates financial record-keeping, ensuring ledgers, invoices, and payment statuses are updated in real-time.

3. Streamlines end-of-month reporting, automating the preparation of statements for property owners and tenants.

4. Mitigates risks of human error, automates compliance checks, and enables automatable audit trails for payments.

5. Automating integration between bank accounts, payment gateways, and accounting platforms, supporting seamless operations across digital financial ecosystems.

Trigger Conditions

1. Automated trigger when new payment is received in rental payment gateway.

2. Automated recurrent synchronization at set intervals (e.g., daily, hourly) for ongoing reconciliation.

3. Triggered upon tenant payment confirmation or direct debit execution.

4. Automated update when accounting records do not match payment entries.

5. Triggered by import of payment batch files or posted payment notifications via webhook.

Platform Variants

1. Xero

• Function: “Create Payment” or “Bank Transactions” API
  
• Config: Automate API call upon payment event to update relevant account records.
  

2. QuickBooks Online

• Function: “Create Sales Receipt” or “Update Invoice Status” endpoint
  
• Config: Automated workflow pushes payment data to matching invoice or creates a new transaction record.
  

3. Sage Business Cloud Accounting

• Function: “POST /v3/payments” API
  
• Config: Automate payment allocation tied to rental invoices once payment confirmed.
  

4. Zoho Books

• Function: “Payments Received” API
  
• Config: Automates logging of incoming payment; links to tenant’s account ledger entry.
  

5. FreshBooks

• Function: “Create Payment” API
  
• Config: Automating capture of payment and marking invoice as paid.
  

6. Wave Financial

• Function: “Create Payment” API endpoint
  
• Config: Automatedly syncs payments to rental income records.
  

7. MYOB

• Function: “Record Customer Payment”
  
• Config: Automator fetches payment confirmations and updates receivables ledger automatically.
  

8. Netsuite

• Function: “Add Payment” SOAP/REST API
  
• Config: Workflow automates creation or update of transaction upon new payment trigger.
  

9. KashFlow

• Function: “POST /payments” API
  
• Config: Payment details entered automatedly, matching tenant reference for rental agencies.
  

10. SAP Business One

• Function: “POST /payments” (Service Layer)
  
• Config: Automating transfer of payment information as soon as cleared.
  

11. Oracle NetSuite

• Function: “CustomerPayment” SOAP/API
  
• Config: Automated mapping from payment gateway to receivables accounts.
  

12. Microsoft Dynamics 365 Business Central

• Function: “POST /customerPayments” API
  
• Config: Automation to record each payment by tenant and reconcile open balances.
  

13. Intuit QuickBooks Desktop

• Function: “ReceivePayment” via SDK
  
• Config: Automating import and posting of payment batches.
  

14. Yardi Voyager

• Function: “Journal Entries” API or SFTP Import
  
• Config: Automator posts payment entries automatically based on collection system export.
  

15. Propertyware

• Function: “Import Payment” API
  
• Config: Automating payment application by tenant ledger.
  

16. Buildium

• Function: “POST /payments” API
  
• Config: Workflow triggers on payment event for automated ledger update.
  

17. AppFolio Property Manager

• Function: “Import Payment File”
  
• Config: Automates reading and posting external payment feeds.
  

18. Rent Manager

• Function: “Payment Import” via API
  
• Config: Automatedly synchronizes external payment data into system.
  

19. PayProp

• Function: “Payment Notification Webhook”
  
• Config: Webhook triggers automation to update accounting ledger.
  

20. Stripe

• Function: “Payment Intent” or “Checkout Session” Webhook
  
• Config: Automation pushes transaction data to accounting system on successful payment.
  

Benefits

1. Automated synchronization eliminates manual double-entry errors in accounting.

2. Automates real-time financial reporting for property managers.

3. Automating audit trails supports compliance and transparency.

4. Accelerates monthly and annual closing through automated data flows.

5. Reduces operating costs by automating routine payment allocation tasks.

6. Provides scalable automation for growing rental portfolios and agencies.

7. Ensures payments are recorded instantly, automating late fee invoicing or notifications.

8. Enables custom automation for multi-bank, multi-currency, and multi-property scenarios.

9. Improves tenant service with faster confirmation and receipt issuance, powered by automation.

10. Enhances accuracy and integrity of financial data through end-to-end automation.