This June, we rolled out new features, enabled more use cases for more integrations, and made many quality-of-life improvements. As ever you can refer to our public roadmap to view and vote on forthcoming features.
Open Banking API
This month we made major improvements to Open Banking API, which provides standardized connectivity across Open Banking platforms, Plaid and TrueLayer.
Open Banking API makes it easy to access and combine banking data with accounting and commerce data. Cross-referencing banking against accounting, for example, can flag missing or incorrect transactions and verify the quality of a business’s bookkeeping, as well as add context to bank transactions.
Banking API now supports the following endpoints across Plaid and TrueLayer:
- GET Banking-Accounts
- GET Banking-Account Balances
- GET Banking-Transactions
- GET Banking-Transaction Categories
Details on the data available and how this is mapped to Plaid and TrueLayer products are available in the documentation.
The Portal now provides a tidier way to view and manage your banking connections.
GET journals from Microsoft Dynamics 365
Codat’s support for Microsoft Dynamics 365 now includes viewing journals. POST payments support has also been enhanced with payments pushed against a bank account. Journals are detailed accounts of financial transactions, kept separately from the general ledger. They are a rich source of information for applications that aim to understand and analyze business activity.
GET bills from Zoho books
Codat now supports the retrieval of bills from Zoho Books. Tracking category support has also been expanded across invoices, credit notes, and bills for this integration. Bills represent accounts payable and are used both in accounting automation and finance use cases, including trade credit, supply chain finance, and “B2B BNPL.”
POST journal entries and direct incomes to Oracle NetSuite
Codat’s Oracle NetSuite support now covers pushing journal entries and direct incomes. Journal entries are a flexible data type that can represent a wide range of rich transaction data that are recorded in journals, while direct incomes cover most consumer sales and other transactions such as refunds.
POST invoices to Sage Intacct
Invoices can now be created in Sage Intacct. This release expands Codat’s support for invoicing and AR automation use cases further into mid-market platforms. Much like pushing journal entries and direct incomes to NetSuite, this feature strengthens Codat’s support for accounting integrations that automate bookkeeping tasks for medium-sized businesses.
POST direct income attachments to Xero
Attachments to direct incomes can now be pushed to Xero. Direct income attachments can be used to store receipts and other documents in a range of file types within an accounting software platform. Storing this kind of documentation is essential for small businesses. For example, the documents may be required when reporting taxes, and without them the business may miss out on tax exemptions or rebates.
GET direct costs from QBD
Direct costs can now be accessed from QuickBooks Desktop. Direct costs are a type of account transaction that can represent a range of money movements, primarily purchases where payment is made at the point of purchase.