Expected Payments

An Expected Payments is a reconcilable item that represents a payment you expect to occur at your vendor such as a bank or payment processor. They are often mirror data from your internal systems, and represent invoices, bills, payment instructions, or other receivables. Expected Payments can be automatically reconciled to Transactions, this requires using reconciliation rules.

⚠️
Expected Payments API has been updated to use reconciliation rules
The legacy API for Expected Payments is being deprecated. This is the updated API – it requires the reconciliation_rule_variables parameter, and requires your organization to have created at least 1 reconciliation rule to automate reconciliation.

Modern Treasury automatically analyzes all Expected Payment(s) to Transaction(s) routinely, and will reconcile ones that satisfy all of the conditions of a reconciliation rule. Common reconciliation parameters include the amount, date, direction, and custom_identifiers fields.

You will notice the use of ranges for both the amount and date on the expected payment. This is because sometimes you aren't quite sure about these values. For example, you may expect a $10 to $15 charge between Monday and Wednesday. You would specify this using the lower and upper bound fields for each. If you know the values precisely, you can simply make the bounds equal.

Attribute	Description
id string	Unique identifier for the expected payment.
description string	An optional description for internal use.
metadata object	Additional data represented as key-value pairs. Both the key and value must be strings. See Metadata.
transaction_id string	The ID of the Transaction this expected payment object has been matched to.
transaction_line_item_id string	The ID of the Transaction Line Item this expected payment has been matched to.
status string	One of `unreconciled`, `reconciled`, `partially_reconciled`, or `archived`.
reconciliation_method string	One of `manual` if this expected payment was manually reconciled in the dashboard, `automatic` if it was automatically reconciled by Modern Treasury, or `null` if it is unreconciled.
ledger_transaction_id string	The ID of the ledger transaction linked to the expected payment. See Linking to other Modern Treasury objects.
external_id string	An optional user-defined unique identifier. Max 180 characters.
amount_reconciled int32	The amount reconciled to this expected payment.
amount_reconciled_direction string	One of `credit` or `debit`. Indicates whether `amount_reconciled` is a credit or debit amount.
amount_unreconciled int32	The amount that remains unreconciled to this expected payment.
amount_unreconciled_direction string	One of `credit` or `debit`. Indicates whether `amount_unreconciled` is a credit or debit amount.
reconciliation_rule_variables array	Fields used for matching reconciliation rule conditions: `internal_account_id`, `direction`, `amount_lower_bound`, `amount_upper_bound`, `currency`, `type`, `date_lower_bound`, `date_upper_bound`, `counterparty_id`, `custom_identifiers`
	⚠️ Both `date_lower_bound` and `date_upper_bound` are required when creating an Expected Payment. The date range must not exceed 75 days for non-check payment types, or 200 days for check payments. If you know the exact date, set both bounds to the same value
live_mode boolean	This field will be true if this object was created with a production API key or false if created with a test API key.

{
  "id": "afc256b0-dab8-4b9a-98c1-735fc23204ce",
  "object": "expected_payment",
  "metadata": {},
  "transaction_id": null,
  "transaction_line_item_id": null,
  "ledger_transaction_id": null,
  "status": "unreconciled",
  "reconciliation_method": null,
  "external_id": "237aebcb2bad",
  "amount_reconciled": 0,
  "amount_reconciled_direction": "credit",
  "amount_unreconciled": 20000,
  "amount_unreconciled_direction": "credit",
  "reconciliation_rule_variables":[
    {
      "type": "wire",
      "amount_upper_bound": 20000,
      "amount_lower_bound": 20000,
      "direction": "credit",
      "internal_account_id": "0f8e3719-3dfd-4613-9bbf-c0333781b59f",
      "currency": "USD",
      "date_upper_bound": "2024-05-15",
      "date_lower_bound": "2024-05-15",
      "counterparty_id": "37ba4454-dd33-4aa0-8906-0e2e4103e45c",
    } ],
  "live_mode": true,
  "created_at": "2019-11-09T00:11:07Z",
  "updated_at": "2019-11-09T00:11:07Z"
}