Payment, Invoicing, and Financial FlowsPurpose
1.2. Automates cross-referencing bank transactions and receipts with submitted license payments.
1.3. Ensures all incoming funds are matched to invoice IDs, payment references, and ledger entries.
1.4. Automatedly updates both general and sub-ledgers, maintaining consistent financial records.
1.5. Triggers exception workflows for unmatched or failed transactions to streamline investigation.
1.6. Automates daily, weekly, or real-time reconciliations for operational financial compliance.
1.7. Automates reporting for audits, providing ready-made reconciliation statements for regulators.
1.8. Integrates with payment gateways, accounting, ERP, and CRM for seamless payment data flow.
Trigger Conditions
2.2. New license application payment or license renewal payment submitted.
2.3. Payment gateway or merchant processor completion webhook.
2.4. Scheduled batch or daily ledger reconciliation time trigger.
2.5. Manual request trigger by a finance officer for ad-hoc reconciliation.
2.6. Detection of ledger-account mismatches or reconciliation gaps.
2.7. API call from ERP/Accounting to initiate ledger sync.
Platform Variants
3.1. Stripe
• Feature/Setting: Use “Payment Intents API” and “Balance Transactions API” to fetch real-time transactions; configure webhook for “payment_intent.succeeded”.
3.2. PayPal
• Feature/Setting: Configure “Instant Payment Notification” (IPN) to send payment status changes to endpoint; “List Transactions” API for ledger matching.
3.3. Wise (TransferWise)
• Feature/Setting: "Customer Statement API" for automated pulling of incoming payment records; use “Webhook” for new inbound events.
3.4. Plaid
• Feature/Setting: Automate “Transactions Get” endpoint for near real-time bank data extraction.
3.5. QuickBooks Online
• Feature/Setting: “Transaction Read” and “JournalEntry Create” APIs automate ledger sync; “Webhooks” for account updates.
3.6. Xero
• Feature/Setting: “Bank Transactions” and “Manual Journals” APIs for automating ledger and reconciliation posting.
3.7. NetSuite
• Feature/Setting: “SuiteTalk REST API” to pull and update financial records and automatedly reconcile payments.
3.8. Oracle Fusion Cloud
• Feature/Setting: “Receivables Invoices API” and “Bank Statement Reconciliation API”.
3.9. SAP S/4HANA
• Feature/Setting: “Bank Account Statement API” and “Journal Entry API” for automation of reconciliation flows.
3.10. Zoho Books
• Feature/Setting: Use “Bank Transactions API” to automate reconciliation and automate ledger entry creation via “Journals API”.
3.11. FreshBooks
• Feature/Setting: “Payments API” for automated fetching and reconciliation; “Journal Entry API” for automated updates.
3.12. Microsoft Dynamics 365
• Feature/Setting: “Finance API” to facilitate automated reconciliation workflows and ledger sync.
3.13. Square
• Feature/Setting: “Transactions API” to poll for new payments; “Webhook” for real-time automation.
3.14. Revolut Business
• Feature/Setting: “Transaction Statement API” and “Webhook for Transaction” automate reconciliation entries.
3.15. Worldpay
• Feature/Setting: “Transactions Inquiry API”, configure automated report pulls for reconciliation.
3.16. Adyen
• Feature/Setting: “Payment Webhooks” for payment events, “Bank Reports API” for automated reconciliation.
3.17. Monzo Business
• Feature/Setting: “Webhooks” for new transactions, automate ledger updates via “Transactions API”.
3.18. HSBCnet
• Feature/Setting: “API Gateway” with “Statement and Transaction Reports” endpoint for automating imports.
3.19. Intuit Mint
• Feature/Setting: Use “Transactions API” for automated updates; trigger with scheduled polling.
3.20. Salesforce
• Feature/Setting: “Financial Services Cloud APIs” automate case creation and ledger updates from payment data.
3.21. Avalara
• Feature/Setting: “Transactions API” automates tax compliance lookup during reconciliation.
3.22. Sage Business Cloud Accounting
• Feature/Setting: “Bank Feeds API” and “Manual Journals API” for automated reconciliation and ledger maintenance.
3.23. Yodlee
• Feature/Setting: “FastLink Transaction Data Feed”, automates ingest of new payment activity.
3.24. Pleo
• Feature/Setting: “Expense API” to automate integrating payment activity into ledgers.
Benefits
4.2. Automated exception management and notification reduces audit and compliance risk.
4.3. Real-time or scheduled automated updates provide up-to-date financial views.
4.4. Automatedly scales for growth as payment volumes increase.
4.5. Improves operational transparency and enables detailed automation for audit trails.
4.6. Substantially accelerates month-end and year-end close cycles via automation.
4.7. Empowers government licensing and permit sectors to focus on service, not administration, by automating payment and ledger processes.