Reconciliation of payments with student accounts

Purpose

1.1. Automate the matching of inbound payments with student ledger accounts to minimize human error, accelerate reporting, ensure financial accuracy, and promptly flag discrepancies or missed payments for adult learners in continuing education programs.
1.2. Aggregate real-time transaction data across payment gateways, bank accounts, learning management systems (LMS), and accounting tools.
1.3. Automatically update student records, resolve mismatches, notify finance/admin staff, and synchronize with institutional bookkeeping systems.

Trigger Conditions

2.1. Detection of new incoming payment in payment gateway or banking platform.
2.2. Scheduled batch process (e.g., daily or hourly scan of transactions).
2.3. Manual upload or entry of payment record by staff.
2.4. LMS or CRM signals updated student enrollment with corresponding open invoice.
2.5. API webhook from accounting tool for 'unmatched payment' event.

Platform variants

3.1. Stripe
• Feature/Setting: "Webhook - payment_intent.succeeded" triggers; configure to push payment data when processed.
3.2. PayPal
• Feature/Setting: IPN (Instant Payment Notification) endpoint; map message fields to student identifiers.
3.3. Square
• Feature/Setting: "Transactions List" API endpoint; poll or receive events for new transactions.
3.4. Authorize.Net
• Feature/Setting: "Webhook for Settled Batch List"; associate batch entries with student records via metadata.
3.5. Plaid
• Feature/Setting: "Transactions" endpoint to fetch latest bank payments; configure periodic sync.
3.6. QuickBooks Online
• Feature/Setting: "ReceivePayment" API; match deposits with open invoices.
3.7. Xero
• Feature/Setting: "GET Payments" endpoint; compare payments with outstanding receivables by reference code.
3.8. Zoho Books
• Feature/Setting: "Payments Received" webhook/API; link payment data to CRM invoice ID.
3.9. FreshBooks
• Feature/Setting: "Payments API" to synchronize receipts; flag unallocated entries.
3.10. Sage Business Cloud
• Feature/Setting: "Bank Transactions" API; match imported lines with invoice numbers or student names.
3.11. SAP Concur
• Feature/Setting: "Expense Entry" webhook; match reimbursement or credit entry to student financial ledger.
3.12. NetSuite
• Feature/Setting: "RESTlet" for payments; script matching logic for imported transactions.
3.13. Blackbaud
• Feature/Setting: "Batch Payment Import" through SKY API; link records using unique student identifiers.
3.14. Ellucian Banner
• Feature/Setting: "Accounts Receivable Feed"; automate matching through custom integration.
3.15. Canvas LMS
• Feature/Setting: "Enrollment API" and "Integration with Payment Systems"; trigger when new payment received.
3.16. Moodle
• Feature/Setting: "Enrolment plugins webhook"; cross-check payments with user enrollments.
3.17. Salesforce
• Feature/Setting: "Platform Events for Payment Received"; sync with student contact/invoice.
3.18. HubSpot
• Feature/Setting: "Payments API"; associate detected payments with contact property.
3.19. Wave
• Feature/Setting: "Receipts Endpoint"; auto-link receipts to customer records.
3.20. Microsoft Dynamics 365
• Feature/Setting: "Dataverse Payments Table"; configure logic to reconcile new entries with outstanding student balances.

Benefits

4.1. Eliminates manual reconciliation labor, reducing risk of overlooked receipts and duplications.
4.2. Accelerates financial closeout, improving real-time business visibility.
4.3. Provides audit-ready records by linking every payment directly to student accounts.
4.4. Enables rapid detection and escalation of mismatches or fraudulent payments.
4.5. Enhances student experience via immediate payment confirmation and reduced finance-related queries.
4.6. Flexibly adapts as new finance or learning management tools are adopted by the school.