Take control of your payouts reconciliation: Integrate your payment gateways with NetSuite
January 23, 2024
Experiencing rapid sales growth is exciting and has the potential to propel your company to new heights. But, it also means you’ll need a reliable payment gateway to efficiently handle an influx of customers.
Using alternative payment methods like PayPal, Stripe, Authorize.net, Braintree, or Amazon Pay can boost revenue by as much as 30%. While leveraging a payment gateway across sales channels can help you reach your revenue goals, it also makes effectively reconciling payments more challenging. Your accounting team will need to painstaking double-check sales order transactions with corresponding payouts. This manual process can cause missing or incorrect payouts, delays in disputes and month-end close, and poor financial visibility.
Let’s work together to build a better process with the prebuilt Payout-to-Reconciliation Business Process Application for NetSuite.
Payouts reconciliation made easy
Our payout-to-reconciliation app allows you to integrate your payment gateway with NetSuite–eliminating the need to manually reconcile every transaction. As your business grows and uses more payment gateways, you can easily add them within our platform.
Celigo’s user interface and AI-based tools simplify integration flow management and empower business teams to set up and manage their own flows without the need for coding. Our AI-based error management tool reduces time spent managing provisioning errors by two to six hours a week. You also gain access to our embedded business logic that automatically employs accounting best practices to ensure your processes are as efficient as possible.
Celigo’s customers estimated automated payouts reconciliation is saving them 40 to 60 hours of manual work per week. Not only will you save time and money, but you could also see a range of benefits such as:
- Quicker month-end close
- Improved cash visibility
- Instant identification of discrepancies and unsettled amounts
How it works
The prebuilt business process application is available on Celigo’s iPaaS (integration platform as a service) and leverages the scalability and robustness of the platform. The application downloads the payout or settlement transactions from the payment gateway and matches them against the outstanding payments and refunds in NetSuite. If a transaction amount in NetSuite doesn’t match with the transaction value, or if a transaction is not found, variance transactions are created in NetSuite.
When you’re ready to set up your application, Celigo’s business process automation will guide you through the entire process. Once you’re finished, your team can manage integration flow status with our unified dashboard for easy troubleshooting.
Need more than what’s in the box? No worries. All flows are customizable to match your unique business needs. You also have access to advanced options such as the ability to delay reconciliation for certain time windows and to track transactional fees and disputes against unique GL accounts.
Take a closer look at the application’s features with our on-demand webinar, Save Thousands of Dollars by Automating Reconciliation with PayPal, Stripe, and Amazon Pay.
Get started
Ready to dive in? Contact us to speak with one of our integration experts.