expected payment is a way to reconcile money you anticipate being paid by customers. This is information that you expect to occur in one of your connected sources.
This is great for lenders, BNPLs and companies who need to make sure a payment happens before they perform an action, e.g. when a user pays an invoice then you 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:
|Expected||The expected payment has been created and it is within the required payment date|
|Paid||The payment has been paid, the amount aligns|
|Overpaid||The payment has been made, but the amount is more than expected|
|Underpaid||The payment has been made, but the amount is less than expected|
|Past due||The corresponding transaction has not yet been matched, and it's exceeded the expected timeline (the due date)|
|Cancelled||The 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 an
expected_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.
Updated 3 months ago