Reconciliation of import invoices and payment records

Purpose

 1.1. Achieve accurate matching between supplier import invoices (typically in varied formats and currencies) and corresponding payment transactions across banking, ERP, and accounting systems.
 1.2. Minimize errors, identify discrepancies promptly, ensure supplier trust, support compliance, and streamline financial operations for businesses importing African goods.
 1.3. Centralize reconciliation workflow from invoice ingestion through multi-source data comparison to exception reporting.

Trigger Conditions

 2.1. Receipt/upload of a new supplier invoice (PDF, email, or portal).
 2.2. Detection of new payment transaction record in accounting, ERP, or banking system.
 2.3. Scheduled batch processing at predefined intervals (e.g., daily, weekly).
 2.4. Manual initiation by staff within finance dashboard/workspace.

Platform Variants

 3.1. QuickBooks
  • API Feature: Use `Invoices API` for pull invoice data; use `Payments API` for transactions; configure `webhooks` for new entries.
 3.2. Xero
  • API Feature: `GET Invoices`, `GET Payments`, set up `push notifications` for real-time changes.
 3.3. SAP Business One
  • Endpoint: `Service Layer API`. Configure queries for `BusinessPartners` and `IncomingPayments`.
 3.4. Oracle NetSuite
  • RESTlet/API: Use `Record API` to fetch `vendorBill` and `vendorPayment` objects.
 3.5. Microsoft Dynamics 365 Business Central
  • API: `GET /invoices`, `GET /vendorPayments`. Enable `change notifications` for triggers.
 3.6. Zoho Books
  • API: `Invoices` and `Payments` endpoints; configure `webhooks` for finance module changes.
 3.7. FreshBooks
  • API: Use `Invoices List`, `Payments List` endpoints.
 3.8. Stripe
  • API: `GET /invoices`, `GET /charges`; set up `Events API` for new inbound payments.
 3.9. PayPal
  • API: `Invoices` and `Transactions` endpoints; enable `IPN` or `webhook` for events.
 3.10. Plaid
  • Endpoint: `/transactions/get`; configure `webhook` for new bank transactions.
 3.11. Wise (formerly TransferWise)
  • API: `GET /v1/profiles/{profileId}/statement` for transaction fetch.
 3.12. Google Sheets
  • API: `Sheets API` for invoice/payment logs as data source or sync layer.
 3.13. Microsoft Excel (Office 365)
  • API: `Excel REST API` to fetch rows added to reconciliation spreadsheets.
 3.14. Dropbox
  • API: `Files/ListFolder` and `Files/Download` for invoice uploads.
 3.15. Gmail
  • API: `Gmail API` to fetch invoice attachments from supplier emails.
 3.16. Outlook 365
  • Feature: `Mail API` to parse supplier messages for attachments.
 3.17. Docparser
  • API: `Document Parsing` endpoints for extracting fields from invoice PDFs.
 3.18. Hubdoc
  • API: `GET Documents`; auto-extract invoice data from uploaded imports.
 3.19. Sage Business Cloud
  • API: `Purchases` and `Bank Transactions` for sync, with `webhooks` for update triggers.
 3.20. Odoo
  • API: `account.invoice` and `account.payment` models for reconciliation flows.
 3.21. MySQL/MariaDB
  • `SELECT` queries for invoices/payments stored in business databases for custom integration.
 3.22. AWS S3
  • API: `ListObjects`, `GetObject` for bulk invoice upload monitoring.

Benefits

 4.1. Real-time reconciliation reduces financial discrepancies and fraud risk.
 4.2. Greater operational efficiency, less manual data entry, fewer errors.
 4.3. Faster exception identification and supplier issue resolution.
 4.4. Scalability for handling multiple suppliers and currencies.
 4.5. Reliable audit trail and compliance adherence for cross-border transactions.