Payments & Financial ProcessesPurpose
1.2. Synchronize class sales, membership fees, and refunds with general ledger; prevent manual entry errors and maintain compliance.
1.3. Enable automated detection of transaction mismatches and flag discrepancies for review; facilitate monthly closing processes.
1.4. Provide unified visibility on payment sources (POS, online, bank transfers) for streamlined revenue recognition and reporting.
Trigger Conditions
2.2. Refund issued for a class or membership.
2.3. Bank statement uploaded or new transaction detected in bank feed.
2.4. Scheduled daily/weekly/monthly reconciliation batch processes.
2.5. Manual trigger by finance/admin to reconcile on-demand.
Platform Variants
3.1. QuickBooks Online
• Function/API: Create/Update Journal Entry (`/v3/company/{companyId}/journalentry`)
• Example: Map ticket payments as ‘Sales Receipt’ objects.
3.2. Xero
• Function/API: Bank Transaction `/api.xro/2.0/BankTransactions`
• Example: Automatically match class payments to invoice numbers.
3.3. FreshBooks
• Feature: Payments API (`/payments`)
• Example: Log each POS payment as a new payment item.
3.4. Sage Intacct
• Function: Create API Session + Post Journal Entry (`GLENTRY`)
• Example: Auto-post daily aggregated revenue per dance class category.
3.5. Wave
• Feature: Record Transaction API (`/transactions`)
• Example: Sync Stripe/PayPal receipts as income transactions.
3.6. Zoho Books
• Function: Payments API (`/payments`)
• Example: Add each membership or class payment to customer ledger.
3.7. NetSuite
• Feature: REST Record Service (`/record/v1/transaction/invoice`)
• Example: Sync enrollments as ‘Sales Invoice’ records.
3.8. MYOB
• Function: POST ‘General Journal’ API (`/GeneralJournal/GeneralJournals`)
• Example: Post multi-class revenue breakdown per batch.
3.9. Odoo
• Feature: Models API (`account.move`)
• Example: Auto-create move lines for daily payments.
3.10. SAP Business One
• Function: Service Layer (`/Invoices`, `/JournalEntries`)
• Example: Map receipt transactions to appropriate GL account.
3.11. Microsoft Dynamics 365
• Feature: Data Integration API (`/accounts/payments`)
• Example: Post-member fee payments as ‘payment journal’ lines.
3.12. KashFlow
• Function: Invoice Payments API (`/payments`)
• Example: Apply payment to respective invoice automatically.
3.13. FreeAgent
• Feature: Bank Transaction API (`/bank_transactions`)
• Example: Mark matched payments as ‘explained’ income.
3.14. AccountingSuite
• Function: Transactions API (`/api/transactions`)
• Example: Reconcile Stripe or Square receipts by date.
3.15. Reckon One
• Feature: Journal Transactions API (`/journaltransactions`)
• Example: Enter daily roll-up sales from booking system.
3.16. Kashoo
• Function: Payments API (`/payments`)
• Example: Match POS deposit records to invoices.
3.17. Wave Financial
• Feature: Add Transaction (`/transactions/create`)
• Example: Recognize cash, card, and online separately.
3.18. QuickFile
• Function: Create Bank Entry (`/ledger/entry/create`)
• Example: Auto-record class fees credited to business account.
3.19. Busy Accounting
• Feature: Import Payments (`/import/payments`)
• Example: Bulk-import daily class settlement files.
3.20. GnuCash (via OFX/CSV Import)
• Feature: Scheduled Import
• Example: Parse bank exports, assign to expense/income codes.
Benefits
4.2. Accelerates monthly account close and reduces audit risk.
4.3. Increases efficiency and productivity for finance/admin team.
4.4. Detects anomalies in payment streams for rapid resolution.
4.5. Creates single source for financial reporting and compliance.