Overview

The Accounts Object represents any account that holds funds in your business. These can be real like bank or payment accounts, or virtual accounts that are used to account for client money movements.

We support a number of different account types. Some can be connected to pull data into the platform, whilst others can be created to track client funds.

• Bank accounts: Can be connected through Open Banking to pull real time transaction and balance data. See the list of providers here.
• PSP accounts: Either connected with an access token to pull live data, or for some PSPs you will need to upload reporting files (e.g. GoCardless, Stripe)
• Client accounts: Create virtual representations of customer accounts, to track the funds moving across your business. These can be grouped through tags, if required for reporting purposes.
• Vendor accounts: Your supplier accounts, to track the funds moving out of your business and when you have upcoming bills.
• Categories: A representation of your Chart of Accounts, to track the funds moving in and out your business. This allows your to easily reconcile transactions into your ERP or accounting software, and use Payable to forecast cash flow.

Accounts

This will be your primary interaction for all accounts you connect with Payable.

Every account you connect has a unique account id assigned to it. Even if you have multiple accounts from a single bank or payment provider (e.g Euro and GBP accounts from HSBC will each have their own unique ids).

Each account is connected to a single entity within your organisation. This allows you to separate the user views of data and reporting between different parts of your business.

Connections

Underneath every bank account is a connection. This is what allows Payable to read data from your account, whether the bank provides this information through files or API connectivity. When starting the journey to connect an account you will start off by calling the connections endpoint. This allows you to connect an account(s) from a financial institution and view things such as transaction history, balance information, etc.

Connecting a bank account

This is easiest for you to do through the dashboard, as we handle the redirect flow for you. You just need to log into your account and the data will then be pulled into your dashboard.
If you connect a bank account through the API, you will need to click on the auth link, go through the authentication steps with the bank, then you'll be returned to Payable.
When a connection expires, as happens through Open Banking, Payable will ask you to reconnect your account. You will get a 401 Unauthorized message to reconnect your account to continue using it for things such as reconciliation reports.

Connecting a PSP

First you must create a connection with the PSP by passing the label, institution_id, entity_id and api_key of the provider, to get a connection ID.

{
     "entity_id": "ent_xyz",
   	 "label": "GoCardless",
     "institution_id": "gocardless",
     "api_key": "live_xyz"
}

Then you must make a request to create an account passing the connection ID, which sets up the name you want to appear in your dashboard (label). Then transaction data is stored against that account.

{ 
  	 "entity_id": "ent_xyz",
     "label": "GoCardless",
     "currency": "EUR",
     "type": "psp",
     "institution_id": "gocardless",
     "connection_ids": ["con_bcybapdult2ejfb76jpoy3kasy"]
}