Auto-matching payments to client records

Purpose

 1.1. Automatically associate incoming payments to corresponding client records, invoices, or quotes by reconciling bank transaction data with issued invoices.
 1.2. Reduce administrative workload by eliminating manual matching of payments; minimize human error in ledger maintaining.
 1.3. Enable real-time update of accounts receivable, ensure timely payment status tracking, and simplify end-to-end financial workflows for antique furniture restoration businesses.

Trigger Conditions

 2.1. New bank transaction or payment notification received via financial platform’s webhook or API.
 2.2. Invoice marked as sent or outstanding in accounting or invoicing software.
 2.3. Receipt of payment email or SMS from a payment processor indicating client name, amount, and reference.

Platform Variants

 3.1. Xero
  • Feature/Setting: “Bank Feed” API + “Invoices” endpoint — configure to pull transactions and match using reference or amount.
 3.2. QuickBooks Online
  • Feature/Setting: “BankTransactions” API + “Invoice” resource — set webhook to trigger on new transactions and reconcile automatically.
 3.3. MYOB
  • Feature/Setting: “BankTransactions” API integration — auto-match functionality by invoice reference.
 3.4. Sage Business Cloud Accounting
  • Feature/Setting: “Bank Feed” integration, “Sales Invoices” API — filter payments and match to open invoices.
 3.5. FreshBooks
  • Feature/Setting: “Payments” API + “Invoices” endpoint — monitor payment status and trigger auto-match.
 3.6. Wave
  • Feature/Setting: “Bank Transactions” webhook — use “Transaction Description” to match existing invoices.
 3.7. Zoho Books
  • Feature/Setting: “Bank Feeds” + “Invoices” API — configure to auto-reconcile based on unique client/invoice number.
 3.8. Stripe
  • Feature/Setting: “Charge.succeeded” webhook — extract metadata to map payment directly to client invoice.
 3.9. PayPal
  • Feature/Setting: “Transaction Search” API — schedule poll for new payments and assign using note/reference.
 3.10. Square
  • Feature/Setting: “Payments” endpoint — setup webhooks to trigger match on payment receipt.
 3.11. Revolut Business
  • Feature/Setting: “Transactions” API — match with invoice entry based on payment purpose/ID.
 3.12. Plaid
  • Feature/Setting: “Transactions” and “Identity” endpoints — retrieve transaction details and match using structured memo fields.
 3.13. Monzo Business
  • Feature/Setting: Webhook for new incoming payments — parse payment reference and reconcile with ledger.
 3.14. Wise (formerly TransferWise)
  • Feature/Setting: “Transfers” and transaction history API — link payment description with invoice.
 3.15. GoCardless
  • Feature/Setting: “Payouts” webhook — use mandate or payment ID to update invoice status.
 3.16. Braintree
  • Feature/Setting: “Transaction Disbursed” webhook event — map custom fields with client record.
 3.17. Authorize.Net
  • Feature/Setting: “Transaction Reporting” API — pull settled transactions, match to customer profile.
 3.18. Mollie
  • Feature/Setting: “Payments” webhook — filter by payment reference and assign to appropriate record.
 3.19. Klarna
  • Feature/Setting: “Order Management” API — configure callback on payment completion to reconcile.
 3.20. NetSuite
  • Feature/Setting: “Bank Reconciliation” and “Customer Payment” SOAP/REST API — map incoming bank lines to open AR entries.

Benefits

 4.1. No manual intervention needed for payment reconciliation, cutting labor hours.
 4.2. Improved accuracy in financial ledgers and reduced payment posting errors.
 4.3. Enhanced cash flow visibility, rapid client account updates, and immediate follow-up capability for unpaid invoices.
 4.4. Real-time financial reporting, ensuring up-to-date account statuses crucial for restoration service businesses.