Reconciliation of payments received with open invoices

Purpose

1.1. Automate reconciliation of payments received with open invoices for furniture manufacturing firms, reducing manual work, increasing accuracy, and ensuring up-to-date financial records.
1.2. Automating this workflow enables fast, error-free matching between incoming bank payments and issued invoices, updating ERP/CRM/Ledger systems in near real-time.
1.3. Automated reconciliation ensures better cash flow visibility, speeds up month-end closing, supports audit trails, and minimizes discrepancies across finance and accounting operations.

Trigger Conditions

2.1. New payment detected in business bank account (via daily or real-time feed or webhook).
2.2. Invoice issued and remains open in the ERP, CRM, or accounting system.
2.3. Receipt of remittance advice email or upload notification from a customer.
2.4. Batch import or sync operation performed for payments or invoice records.
2.5. Scheduled automation (e.g., nightly job for reconciliation of prior day).

Platform variants

3.1. SAP
• Function: BAPI_ACC_DOCUMENT_POST for payment posting, BAPI_INCOMINGINVOICE_CREATE for invoice creation
• Sample: Configure automation to poll inbound payment records and apply BAPI functions.
3.2. Oracle NetSuite
• Function: REST API (POST /payments, GET /invoices)
• Sample: Automate via APIs to fetch unmatched invoices and update payment status.
3.3. QuickBooks Online
• Function: Payments API /v3/company/ID/payment, Invoices API /invoices
• Sample: Scheduled search for payments, automate reconciliation logic via API.
3.4. Xero
• Function: GET /api.xro/2.0/Payments, PUT /api.xro/2.0/Invoices
• Sample: Poll payments, match and automate invoice marking as paid.
3.5. Microsoft Dynamics 365
• Function: Finance & Operations Data Entities, OData API
• Sample: Automate data retrieval from payment entity, automate matching logic.
3.6. Zoho Books
• Function: GET /payments, GET/POST /invoices APIs
• Sample: Use automation to reconcile payments, update invoice status.
3.7. FreshBooks
• Function: Payments Endpoint (GET/POST), Invoices Endpoint
• Sample: Automate matching logic using FreshBooks API.
3.8. Sage Intacct
• Function: Online API - readPayment, readByQuery for invoices
• Sample: Automate cross-matching of transactions and updating records.
3.9. Odoo
• Function: XML-RPC API, account.payment model, account.move for invoices
• Sample: Automate job to compare bank feed and open invoices.
3.10. Stripe
• Function: PaymentIntents API, Events Webhooks
• Sample: Automate trigger on payment_succeeded event, match with invoice.
3.11. PayPal
• Function: Transaction Search, Invoicing REST API
• Sample: Automate polling for incoming payments, automate marking matched invoices.
3.12. Plaid
• Function: Transactions endpoint
• Sample: Automate fetching bank transfers to match with ERP invoices.
3.13. HubSpot
• Function: CRM associations API, updates to deal/payment properties
• Sample: Automate updating Deals when payment matches invoice.
3.14. Salesforce
• Function: Invoice & Payment custom objects, Process Automation APIs
• Sample: Trigger automation on new payment log, auto-match to open invoices.
3.15. Bill.com
• Function: API - List invoices, List payment records
• Sample: Automate reconciliation workflow between invoice and payment entities.
3.16. ADP (Workforce Now)
• Function: GL Interface, Payment Import API
• Sample: Automate sync of payment data for reconciliation in accounts.
3.17. Wave Financial
• Function: Payments & Invoices API
• Sample: Fetch all open invoices, automate payment record search & update.
3.18. Square
• Function: Payments API, Invoices API
• Sample: Automate trigger for payment completion, update invoice status.
3.19. Mollie
• Function: Payments API v2, Orders API
• Sample: Automatically fetch payment events, cross-check invoice numbers.
3.20. Avalara
• Function: Transactions API, Reports API
• Sample: Automate monthly reconciliation and tax record update process.
3.21. Google Sheets
• Function: Apps Script, Sheets API
• Sample: Automator scheduled sheet lookup and reconciliation script.
3.22. Mailparser
• Function: Automated email parsing for remittance notices
• Sample: Automation to extract remittance PDFs, match to open invoices.

Benefits

4.1. Automates manual matching process, reducing cycle time and errors.
4.2. Automating reconciliations ensures up-to-date, accurate financials.
4.3. Automated operations support fraud detection and improved audit readiness.
4.4. Automation reduces cost of finance and accounting processing.
4.5. Automator workflows scale as business grows, supporting high transaction volumes.
4.6. Automatable solution frees finance team for value-added analysis, not data entry.
4.7. Automatedly generates audit logs and tracks exceptions.
4.8. Automation helps sustain compliance and best practices in financial reporting.