Version: 1.0

Receivables

Transfer receivables data with the bank through a simple, straightforward interface.
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Overview

U.S. Bank VantagePoint is our centralized interface for receivable payments and remittance data. It helps to streamline, simplify and automate receivables processing and cash application.

The Receivables API enables partner applications to securely exchange details about payments received or open invoice data. The Receivables API does not require extensive knowledge of file formatting, making integration with U.S. Bank simple and easy.

Features

Easily exchange data needed to manage your receivables with greater speed and accuracy. Exchange of information can be performed in real time, as transactions are completed or scheduled.

Send open A/R items to U.S. Bank.

  • Send open A/R items such as invoices or accounts and their associated details.
  • Open A/R items are received immediately and matched with payments received.

Retrieve receivables details from U.S. Bank.

  • Retrieve receivables data any time via an API call based on the transaction ID or using search criteria.
  • Retrieve receivables data that matches certain search criteria at any time. Users can define pagination – the number of transactions in the API call.

Update a status via webhooks.

  • Subscribe to our webhooks, a notification which triggers the API call to fetch details when a transaction is completed and ready for your ERP system.

Workflow

Receivables - workflow

Example use cases

Send open A/R data.

David is the receivables manager for a large distribution company. The company wants to share its open AR information with the bank so it can be automatically matched to payments received. Using the Receivables API, the information transferred removes the effort needed to create a format for a recurring file transmission.

Receive data for cash applications.

Sadie is the cash manager for a communications company. The company is using VantagePointTM to combine received payments and remittance details. They need these details sent to their ERP system for cash application. The Receivables API allows those details to be transferred via an API call instead of a recurring file transmission, eliminating the need to build a specific file format.

Fetch data via notifications.

Alex is the director of Accounts Receivable for a car dealership. The company is using VantagePointTM to manage its receipts. It is important for the company to know as soon as a payment is completed so that a vehicle can be released for delivery. The Receivables API webhooks provide notice as soon as a payment is ready in VantagePointTM, which triggers an API call to fetch the data and provide the necessary notification.

Restrictions

  • One open AR item sent to U.S. Bank in one API call.
  • Details for up to 200 transactions can be retrieved in one API call.