Bank API reconciliation
Bank payments matched as they land, not at month end
Many banks and payment gateways can send a notification each time money arrives in your account. LeaseForce receives those notifications, works out which tenant paid and applies the payment to their invoice, usually within seconds.
The problem
Bank transfers are the hardest payments to match
- Statements arrive days or weeks later, so balances are always behind.
- Narrations are cut short, so the tenant’s name or reference is often missing.
- Transfers, RTGS, EFT and PesaLink payments each look different on the statement.
- Matching hundreds of statement lines in Excel at the end of every month.
How it works
Bank API reconciliation in four steps
What it does
In detail
Any bank or gateway
Banks, card gateways and payment aggregators all work the same way, as long as they send a notification for each payment. A new one is connected in settings, not by custom development.
Only genuine notifications accepted
Each notification is checked against a secret shared only with your bank or gateway, so nobody else can post payments to your account.
Every account you collect into
Connect each bank account you collect rent into, in any currency, and choose which account each property or lease shows on its invoices.
Banks without notifications
If a bank does not offer notifications, upload its statement PDF instead. AI reads every money-in line and the same rules match it. Available on Agency plans and above.
A full record of what arrived
Every notification is kept with what it became. If one fails, for example because the mapping was wrong, it can be processed again once it is fixed.
Unclear payments wait for a decision
A transfer with no usable reference goes to the unmatched list with the sender’s name and the narration, ready to assign to a tenant.
Questions
Bank API reconciliation: common questions
Which banks work?
Any bank, payment gateway or aggregator that can send a notification for each incoming payment. Ask your bank’s business banking team for “instant payment notifications” or a “collections API”. If your bank does not offer it, upload its statement instead.
Do I need a developer?
No. The connection is set up in settings by pointing to where each detail sits in your bank’s notification, and you can test it with a sample first. Agency and higher plans include a guided onboarding call.
What should tenants put as the reference?
Their payment code, which is printed on every invoice, or the invoice number. Either one lets the payment be matched automatically.
Is it secure?
Yes. Each connection has its own private address and secret, notifications that fail the check are rejected, and every notification is logged.
Related
Keep reading
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AI
AI that does property management work, not just chat
See your rent reconcile itself.
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