Bank reconciliation automation

Purpose

1.1. The purpose is to automate bank reconciliation for a Creole restaurant by syncing banking transactions, sales records, and invoices for accurate financial reporting, fraud detection, expense control, and liquidation automation.
1.2. The automation matches banking data with POS, vendor invoices, and accounting records, reducing manual reconciliation, accelerating closing cycles, and ensuring regulatory compliance.
1.3. The end-to-end automator workflow imports, parses, matches, flags exceptions, escalates discrepancies, auto-fills ledgers, and generates reconciliation statements.
1.4. This process automates the aggregation of transaction data from different sources, error notifications, and correction suggestions for improved financial hygiene.

Trigger Conditions

2.1. New transaction entry in bank feed, automatic or scheduled (e.g., daily at midnight, or upon new SWIFT/ACH batch detected).
2.2. New sales data batch uploaded from POS or restaurant management system.
2.3. Vendor invoice registered in accounts payable system.
2.4. Manual override or exception trigger from finance team.
2.5. Monthly financial close or ad hoc reconciliation request.

Platform Variants

3.1. QuickBooks Online
• Feature/Setting: Use Bank Feeds API (`/v3/company//bankaccounts//transactions`) to fetch and automate importing of transactions.

3.2. Xero
• Feature/Setting: Use Bank Transactions endpoint (`GET /api.xro/2.0/BankTransactions`) to automatically retrieve and reconcile records.

3.3. FreshBooks
• Feature/Setting: Banking API (`GET /bank_accounts`) to automate transaction synchronization and reconciliations.

3.4. Sage Intacct
• Feature/Setting: Cash Management Bank Transactions API for automated reconciliation processing.

3.5. Wave
• Feature/Setting: Auto-import bank transactions and automate rule-based matching with categorization settings.

3.6. NetSuite
• Feature/Setting: Use the Automated Bank Statement Import SuiteApp for direct bank file ingestion and reconciliation.

3.7. SAP Business One
• Feature/Setting: Use the Electronic Bank Statement and Bank Reconciliation Automation module.

3.8. Zoho Books
• Feature/Setting: Bank Feeds API and Automate Bank Rule configuration for matching and reconciliation.

3.9. Plaid
• Feature/Setting: Use `/transactions/get` endpoint for fetching real-time account data to be matched with POS records automatically.

3.10. Yodlee
• Feature/Setting: FastLink API for aggregating transaction data feeds for automated reconciliation in the back-office.

3.11. Stripe
• Feature/Setting: Balance Transactions API (`/v1/balance_transactions`) to automate fetching and reconciling card deposits.

3.12. Square
• Feature/Setting: Payments API and Bank Transfers API for automated matching of sales to bank deposits.

3.13. Clover
• Feature/Setting: Use the Transactions API (`GET /v3/merchant/{mId}/orders`) for sales-bank match automation.

3.14. PayPal
• Feature/Setting: Transaction Search API (`/v1/reporting/transactions`) to automate and match payments with bank data.

3.15. Revolut Business
• Feature/Setting: Transaction API (`GET /1.0/transactions`) for automated reconciliation with ledgers.

3.16. Wise Business
• Feature/Setting: API v3 `/v3/profiles/{profileId}/statements/period` for automated bank statement fetching and ledger matching.

3.17. Microsoft Dynamics 365 Business Central
• Feature/Setting: Automated Bank Statement Import and Bank Reconciliation Journals.

3.18. Oracle NetSuite
• Feature/Setting: SuiteBanking APIs for automating the entire reconciliation lifecycle.

3.19. Intuit Bank Feeds
• Feature/Setting: Auto-fetch and match transactions from integrated banks using Open Banking APIs.

3.20. FinBox API
• Feature/Setting: Real-time automated transaction aggregation and integration with restaurant accounting stacks.

Benefits

4.1. Automates extraction, matching, and validation of bank and sales data for faster reconciliation cycles.
4.2. Automator flags anomalies, unmatched entries, and unexpected cash flows, automating exception management.
4.3. Automation reduces manual errors and enforces internal controls, ensuring compliance and audit-readiness.
4.4. Automating reconciliation frees finance staff for analysis and strategic tasks, improving operational efficiency.
4.5. Automatable workflows allow timely detection of discrepancies, fraud, or cash shortfalls for Creole restaurants.
4.6. Bank reconciliation automation supports accurate, real-time financial reporting, enabling data-driven decision-making.