An expected_payment is information about a payment you expect to occur in your bank account. Unlike payment orders, these are payments that are not initiated by the Modern Treasury system. Instead, you may be receiving money or could be charged by someone else. Some examples are receiving funding from a capital call via a wire or being debited by a vendor.
The Modern Treasury system attempts to connect expected payments to transactions to enable reconciliation even when you didn't initiate a payment. Some fields are required, as you will see below. For example, we need to know the direction and internal_account. Other fields, such as the counterparty and statement_descriptor help us to be more accurate in our automatic reconciliation.
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 $10-15 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.
A note on precedence
When multiple expected payments match a given transaction, Modern Treasury will match the transaction against the most specific expected payment. For example, the expected payment that has the most non-
nullfields defined will be matched to the transaction.
Attribute | Description |
|---|---|
id | Unique identifier for the expected payment. |
type | One of |
amount_upper_bound | The highest amount this expected payment may be equal to. |
amount_lower_bound | The lowest amount this expected payment may be equal to. |
currency | Must conform to ISO 4217. Defaults to the currency of the internal account. |
direction | One of When you are receiving money, use When you are being charged, use |
internal_account_id | The ID of one of your organization's Internal Accounts. |
date_upper_bound | The latest date the payment may come in. |
date_lower_bound | The earliest date the payment may come in. |
description | An optional description for internal use. |
statement_descriptor | The statement description you expect to see on the transaction. For ACH payments, this will be the full line item passed from the bank. For wire payments, this will be the OBI field on the wire. For check payments, this will be the memo field. |
metadata | Additional data represented as key-value pairs. Both the key and value must be strings. See Metadata. |
counterparty_id | The ID of the counterparty you expect for this payment. |
transaction_id | The ID of the Transaction this expected payment object has been matched to. |
transaction_line_item_id | The ID of the Transaction Line Item this expected payment has been matched to. |
status | One of |
reconciliation_method | One of |
live_mode | 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",
"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": "2018-11-08",
"date_lower_bound": "2018-11-08",
"statement_descriptor": "PMT1234",
"metadata": {},
"counterparty_id": "37ba4454-dd33-4aa0-8906-0e2e4103e45c",
"transaction_id": null,
"transaction_line_item_id": null,
"status": "unreconciled",
"reconciliation_method": null,
"live_mode": true,
"created_at": "2019-11-09T00:11:07Z",
"updated_at": "2019-11-09T00:11:07Z"
}