This month, we are excited to announce the launch of reconciliations as a new building block to our platform as well as expected payments as a new type of payments.
Companies with large volumes of payments need to reconcile them with account transaction to make sure that all payments have been accounted for and that every transaction corresponds to a legitimate payment. This enables them to close books faster and with a higher degree of confidence.
We are now enabling customers to reconcile payments and transactions using the API. Customers can create one-to-one, many-to-one, and many-to-many reconciliations between payments and reconciliations to support use cases and the most sophisticated reconciliation needs.
With expected payments, customers can now reconcile transactions with payments that are not initiated through Numeral. These can be bank transfers received, direct debits, or anyty e of ppayment currently not supported by Numeral. Customers can now use Numeral as the single source of truth for all their reconciliations.
Expected payments can be enriched with metadata and can also be combined with virtual accounts to further facilitate the reconciliation between expected payments and transactions.