Accounts Receivable: Expected Payments

There are two key concepts:

  • Expected Payments: These are the payments you anticipate receiving. They can be automatically created from your invoicing provider, sent through our API, or manually inputted into the dashboard when issues arise.
  • Client Accounts: These are virtual records of your customers, suppliers, or any other categories you use to organise the funds moving in and out of your business. Each account holds its own reconciliation logic, as well as records of every expected and actual transaction.

Tracking when customers have paid, is essential for anyone in the B2B SaaS game, including lenders, BNPLs and any company who need to make sure a payment happens before they perform an action, e.g. when a user pays an invoice then you can instruct a payout.

Reconciliation of expected payments
Expected payments can be used as a means to watch for transactions arriving in your account. We will analyse whether the payment has been paid correctly. The statuses of expected payments are:

ExpectedThe expected payment has been created and it is within the required payment date
PaidThe payment has been paid, the amount aligns
OverpaidThe payment has been made, but the amount is more than expected
UnderpaidThe payment has been made, but the amount is less than expected
Past dueThe corresponding transaction has not yet been matched, and it's exceeded the expected timeline (the due date)
CancelledThe resource was created in error and has now been deleted

Tracking expected payments by customer
You can track payments and balances for all of your customers. Expected payments can be logged against client accounts.

When you pass the source_account_id value when creating an expected payment, you can track all the expected payments by status for each of your customers. If anexpected_paymenthas a status of paid then the funds will be "allocated" to that client ID. This allows you to track the movement of client funds throughout your business and investigate any outstanding issues.

Linking transactions to expected payments
Sometimes customers will not make a transaction in a way that can be automatically matched, but in the dashboard we provide tooling for you to investigate and link transactions with expected payments. If a customer has made one transaction that covers multiple invoices, you can split the value between different expected payments.