So you’ve made processed payments through Stripe and they’re all recorded in Salesforce. Awesome! But could you imagine if you could match them up with your bank statements in a simple, quick and automated way? Well that’s exactly what PosiPay does for you. With our Yodlee integration you can quickly match your payments recorded in Salesforce with your bank statement line items.
Yodlee Integration
While we don’t want to retain sensitive details in our Salesforce org, we still need to be able to process payments. We do this by storing tokenised sensitive details (eg. credit cards), or payment methods that are safe to be stored (eg. bank details). These are stored in the industry cloud core object Payment Instrument. PosiPay is able to utilise these details to process future payments without needing to request payment details again. Furthermore, deletion of these details can be automated for situations where you don’t need to keep them.
Transaction Matching
The Gateway Transaction object in PosiPay is the place where the key transaction data is kept. Here you will find records of every transaction attempt, with details such as amount and status. A new record is created for every attempted transaction, while retries of failed transactions will update the existing Gateway Transaction record. Your organisation is able to setup rules to link these transaction records to contacts and/or accounts according to your business logic. Opportunity updating can also be automated according to your business rules should you need it.
Happy Accounts Team
To take payment reconciliation the next step, our Yodlee integration automatically imports your bank statements into Salesforce so that you can match all of your payment information in Salesforce , with what actually lands in your Bank Account.
Transaction Matching
We provide dashboards to clearly highlight any payments that don’t match. Whether it is money you expected to land in your bank account and didn’t (requiring an important follow-up conversation!) or money you received that you haven’t recorded in Salesforce. This helps you maintain Salesforce as the single source of truth for all of your payment tracking, and gives you confidence that you aren’t missing any important information or money!
Happy Accounts Team
Once you’ve matched all of your transactions in Salesforce, then it is time to make some people really happy. Passing your clean transaction data into Accounting Subledger (which is included in Salesforce Industry Cloud installations) will provide your accounts team with crisp, detailed, pre-reconciled transaction data. This will save them so much time and frustration, they will become your biggest fans. And if you want anyone in your organisation to be in your corner, it’s the accounts team right?
Next place to go: The Big Picture - PosiPay