Payment & Financial AutomationPurpose
1.2. Ensure automated matching of customer records, payment amounts, transaction IDs, and payment status across sales channels.
1.3. Reduce errors in financial records by automating data syncing between banks, payment gateways, and accounting platforms.
1.4. Automator monitors, detects, and flags mismatches, errors, or duplicates for finance team review.
1.5. Automates notifications for unprocessed, failed, or suspicious transactions, ensuring financial accuracy.
Trigger Conditions
2.2. Payment entry logged via onsite POS (credit card, cash, voucher).
2.3. Daily batch closure or end-of-day cash-up event.
2.4. Scheduled interval (e.g., every hour or daily at midnight) to automate reconciliation.
2.5. Manual override trigger by finance admin for ad-hoc reconciliations.
Platform Variants
3.1 Salesforce
• Feature/Setting: Configure "Payment Data Loader" and "Transaction Matching Rules" in Salesforce to automate payment record syncing.
3.2 QuickBooks Online
• Feature/Setting: Use "Bank Feeds" API and "Online Payments Sync" automator to fetch transactions for automatic reconciliation.
3.3 Stripe
• Feature/Setting: Enable "Events Webhooks" and "Balance Transactions API" to automate retrieval of all online payment activities.
3.4 Square
• Feature/Setting: Configure "Transactions API" and automate with "Balance" endpoint for POS payment matching.
3.5 Shopify
• Feature/Setting: Use "Order Payments API" to automate reconciliation between online payments and POS orders.
3.6 Xero
• Feature/Setting: Set up "Bank Statement Import" and "Find & Match" API function for matching external payments.
3.7 Zoho Books
• Feature/Setting: Enable "Bank Feed" automation and "Customer Payment Matching" for streamlined reconciling.
3.8 MYOB
• Feature/Setting: Use "Bank Transactions API" to automate fetching and matching with POS and online portals.
3.9 PayPal
• Feature/Setting: Activate "IPN (Instant Payment Notification)" and "Transaction Search API" for real-time reconciliation.
3.10 Worldpay
• Feature/Setting: Configure "Payments Webhook" and automate polling "Transaction History API".
3.11 Authorize.Net
• Feature/Setting: Use "Transaction Details API" to automate download and cross-match all gateway payments.
3.12 Adyen
• Feature/Setting: Enable "Notification Webhooks" and "Balance Platform API" for automated reconciliation.
3.13 Handepay
• Feature/Setting: Use "Transaction Reports Export" on schedule for integration with reconciliation workflows.
3.14 Sage Business Cloud
• Feature/Setting: Set up "Bank Feeds API" and enable automated "Match Transactions" setting.
3.15 Clover
• Feature/Setting: Utilize "Payments API" to automate aggregation and reconciliation with other channels.
3.16 FreshBooks
• Feature/Setting: Use "Bank Reconciliation" automator and "Payments API" for syncing.
3.17 OpenTable
• Feature/Setting: If used for bookings, configure "API Exports" to automate extraction of associated payment data.
3.18 Oracle NetSuite
• Feature/Setting: Enable “Bank Data Sync” and configure “Automated Reconciliation Rules.”
3.19 Braintree
• Feature/Setting: Automate with "Webhook Notifications" and "Transaction Search API".
3.20 Lightspeed POS
• Feature/Setting: Use "Payments API" and automate daily exports of transaction summaries.
Benefits
4.2. Supports automated detection of discrepancies, enabling faster resolution and improved transparency.
4.3. Allows for scalable, automatable reconciliation as business volume grows.
4.4. Automatedly ensures financial consistency between online and onsite operations.
4.5. Streamlines reporting and automates compliance with industry accounting standards.
4.6. Enhances customer trust by automating and verifying payments efficiently.
4.7. Provides real-time insight and automated alerts for any reconciliation failures.