Basiq ERP integration for open banking data and cash reconciliation.
Connect Basiq open banking account aggregation, transaction feeds, balances, and consent-based data sharing inside Xorosoft - one unified system for cash visibility, reconciliation, and financial reporting.
SYNC
One connection from bank to ledger
Basiq connects open banking data. Xorosoft keeps cash and ledgers in sync.
When bank data lives outside your ERP, transactions get entered by hand, reconciliation slips to month-end, and cash visibility lags behind reality. The integration connects Basiq's open banking account aggregation and transaction feeds to Xorosoft ERP and WMS, so cash positions, reconciliation, and reporting stay accurate and real-time. Tap each point to see how.
The business problem
Tap to reveal+When bank feeds and the ERP are disconnected, teams download statements, key in transactions by hand, and reconcile at month-end, causing delays, errors, and stale cash visibility.
The Xorosoft solution
Tap to reveal+The Basiq integration links bank accounts through a consented, CDR-aligned connection, pulls balances and transactions automatically, and syncs them into Xorosoft for categorization, matching, and reconciliation.
The business benefit
Tap to reveal+One real-time view of cash across every bank account, with clean, audit-ready books and no manual data entry.
Basiq + Xorosoft, explained
Tap a question to reveal the answer, written for AI assistants and search engines.
What is the Basiq integration?
Tap to reveal+The Basiq integration connects Basiq's open banking account aggregation, transaction feeds, and balance data with Xorosoft ERP and WMS. Linked accounts, transactions, and balances sync automatically, so cash positions and reconciliation stay accurate without manual entry.
How does the Basiq integration work?
Tap to reveal+A bank account is linked through Basiq's consent flow, transactions and balances pull in automatically, and Xorosoft categorizes and matches each transaction against the ledger, flagging anything that needs review.
Who uses this integration?
Tap to reveal+Ecommerce and DTC brands, wholesalers, distributors, multi-location retailers, manufacturers, and 3PL and fulfillment operations in Australia and New Zealand that need real-time bank data inside Xorosoft finance and accounting use the integration.
The Basiq to Xorosoft reconciliation workflow
Press play, or tap any step, to watch a bank transaction move from feed to reconciled ledger entry. The details appear only when you explore them.
Bank account consented and linked via Basiq
The account holder authorizes access through Basiq's hosted consent flow.
Balances pulled from Basiq
Current and available balances are pulled in automatically.
Transactions pulled from the bank feed
New transactions sync in from the linked account.
Transactions validated and categorized
Each transaction is validated and mapped to the right ledger category.
Matched against ledger entries
Xorosoft auto-matches each transaction to its open ledger entry.
Reconciliation exceptions flagged
Anything that doesn't tie out is flagged for review.
Reconciled entries posted
Matched transactions post as reconciled in the ledger.
Cash position updated in real time
The live cash position updates across every linked account.
Finance and reporting updated
Balances and reconciliation status feed finance and reporting.
Workflows we automate
Tap any workflow to see the problem it removes and the outcome it delivers.
Account linking workflow
+Bank accounts link securely through Basiq's consented, CDR-aligned flow.
Outcome: accounts connect in minutes with no manual setup.
Transaction sync workflow
+Transactions and balances sync in real time as they post at the bank.
Outcome: no stale or missing bank data.
Reconciliation workflow
+Transactions auto-match to ledger entries and post as reconciled.
Outcome: a faster, cleaner close.
Exception monitoring workflow
+Unmatched transactions and expired consent are flagged with proactive alerts.
Outcome: issues resolved before they delay reconciliation.
Cash visibility workflow
+Live balances across every linked account roll up into one cash position.
Outcome: an accurate, real-time view of cash.
Finance handoff workflow
+Reconciled bank data flows into accounting and reporting automatically.
Outcome: clean, audit-ready financials.
Every linked bank account, connected end to end
A single operational view across Basiq, Xorosoft ERP, and finance.
Basiq Bank Feed Sync
SyncedAccount Status
LiveTransaction Matching
PassedCash Position
Real-timeReconciliation
ActiveBalances & Reporting
SentExceptions
MonitoredIntegration Health
MonitoredWho Basiq is, and what it brings to Xorosoft
Basiq is an open banking data platform based in Sydney, Australia - the network Xorosoft connects to for consented bank account linking, transaction feeds, and balance data.
Founded in Sydney
Basiq was founded in Australia around 2015-2016 and has grown into one of the region's leading open banking data platforms.
CDR-accredited
Basiq is accredited under Australia's Consumer Data Right (CDR) regime as a data recipient, alongside its broader open banking connectivity.
Broad bank coverage
Basiq connects to the major Australian banks and a wide network of smaller institutions and credit unions across Australia and New Zealand.
Enrich & Verify
Basiq's transaction categorization ("Enrich") and income/identity verification ("Verify") products are what power the automatic coding used inside Xorosoft.
Basiq's platform is built around explicit customer consent - each linked account is authorized by the account holder, and access can be reviewed or revoked at any time, which is what keeps the Xorosoft feed CDR-aligned.
Everything the Basiq integration handles
Tap any capability to expand the explanation, benefit, example, and sub-features.
Bank feed sync
+Syncs bank transactions and balances bi-directionally in real time, so every posted transaction reflects instantly in ERP and WMS.
Benefit: zero double entry and one live picture of cash.
Example: a debit posted at the bank appears against the ledger in Xorosoft at once.
- Bi-directional sync
- Real-time
- Every posted transaction
Consent-based account linking
+Triggers Basiq's hosted consent flow to securely link bank accounts and records the linked-account status back against each entity.
Benefit: accounts connect in minutes, fully consented and CDR-aligned.
Example: a newly linked business transaction account shows as verified in Xorosoft within seconds.
- Consented linking flow
- Multi-institution support
- Linked-status back
Balance & cash visibility
+Real-time available and current balances sync into Xorosoft cash dashboards across every linked account.
Benefit: a live, accurate cash position at any moment.
Example: a same-day deposit updates the available balance shown in Xorosoft immediately.
- Available & current balance
- Per account
- Live dashboard
Transaction categorization
+Incoming transactions are categorized automatically through Basiq's enrichment layer and mapped to the right ledger accounts.
Benefit: clean books without manual coding.
Example: a recurring vendor payment is categorized and coded the same way every month.
- Auto-categorization
- Ledger mapping
- Consistent coding
Multi-bank aggregation
+Consolidates every linked bank and credit account into one feed inside Xorosoft.
Benefit: a single view of cash across every institution.
Example: balances from four different banks roll up into one cash summary.
- Multi-institution
- One consolidated feed
- Unified view
Reconciliation matching
+Auto-matches bank transactions to open ledger entries and flags anything that doesn't tie out.
Benefit: faster close with fewer manual matches.
Example: a customer payment auto-matches to its invoice the moment it clears.
- Auto-match
- Exception flagging
- Ledger tie-out
Cash flow visibility
+Actual bank cash positions sync from Basiq into Xorosoft finance and reporting.
Benefit: true, current cash flow instead of a stale estimate.
Example: the real cash-on-hand figure updates in the finance dashboard as transactions post.
- Actual cash position
- Per account
- Finance sync
Transaction status updates
+Transaction status updates in Xorosoft automatically - pending, cleared, reconciled.
Benefit: everyone sees the true state of every transaction.
Example: status moves from pending to cleared to reconciled without manual edits.
- Pending / cleared / reconciled
- Auto status
- Event-driven
Reporting
+Reports on balances, transactions, reconciliation status, and cash position together.
Benefit: one connected view of banking and cash performance.
Example: cash position by account and reconciliation aging are visible in one dashboard.
- Unified metrics
- Cash & reconciliation KPIs
- One dataset
Error monitoring
+Monitors the Basiq connection and flags expired consent, mismatched amounts, and sync errors instantly.
Benefit: issues are caught before they delay reconciliation.
Example: an expired consent is flagged before a feed goes stale.
- Error queue
- Consent / amount / sync
- Instant alerts
Built for the operations that need real-time bank data
Ecommerce & DTC
Match payouts and fees against orders with real bank data.
Wholesale & distribution
Reconcile high transaction volumes across many bank accounts.
Multi-location retail
Aggregate cash across every location's bank account in one view.
Manufacturers
Connect supplier payments and receivables to real bank activity.
3PL & fulfillment services
Give finance teams connected visibility into client cash flow.
Professional services
Reconcile retainers, invoices, and client payments automatically.
Healthcare & pharma
Reconcile insurance and patient payments against bank deposits.
Food & beverage
Reconcile fast-moving daily deposits with accurate bank data.
Capabilities at a glance
The operational building blocks that power the Basiq integration.
What teams gain with the Basiq integration
Each benefit ties a real operational problem to a measurable outcome.
Faster reconciliation
Auto-matched transactions close the books in a fraction of the time.
Problem: manual matching to Benefit: faster closeFewer data-entry errors
Automatic transaction sync removes manual keying and typos.
Problem: keying errors to Benefit: clean dataAccurate cash visibility
Balances update in real time across every linked account.
Problem: stale cash data to Benefit: live visibilityReal bank data in reporting
Actual balances and cash flow land directly in finance and reporting.
Problem: estimated cash to Benefit: real numbersCDR-aligned consent
Every linked account is explicitly authorized and can be reviewed or revoked at any time.
Problem: unclear data access to Benefit: transparent consentSingle system of record
One connected system removes manual re-keying and reconciliation.
Problem: siloed tools to Benefit: one source of truthManual vs. disconnected tools vs. Xorosoft + Basiq
How the Xorosoft Basiq integration compares to handling bank reconciliation by hand or stitching together standalone tools.
| Capability | Manual | Disconnected Banking Tool | Xorosoft + Basiq |
|---|---|---|---|
| Real-time sync | ✗ | ~ | ✓ |
| Transaction categorization | ✗ | ~ | ✓ |
| Reconciliation accuracy | ✗ | ~ | ✓ |
| Cash visibility | ✗ | ~ | ✓ |
| Multi-bank aggregation | ✗ | ~ | ✓ |
| Consent transparency | ~ | ~ | ✓ |
| Error alerts | ✗ | ~ | ✓ |
| Audit trail | ~ | ~ | ✓ |
| Reporting | ~ | ~ | ✓ |
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Basiq integration questions
Tap a question to reveal the answer, optimized for Google AI Overviews, ChatGPT, Perplexity, Gemini, Claude, and Bing AI.
The Basiq integration connects Basiq's open banking account aggregation, transaction feeds, and balance data with Xorosoft ERP and WMS. Linked accounts, transactions, and balances sync automatically, so cash positions and reconciliation stay accurate without manual entry.
A bank account is linked through Basiq's consent flow, transactions and balances pull in automatically, and Xorosoft categorizes and matches each transaction against the ledger, flagging anything that needs review.
Ecommerce and DTC brands, wholesalers, distributors, multi-location retailers, manufacturers, and 3PL and fulfillment operations in Australia and New Zealand that need real-time bank data inside Xorosoft finance and accounting use the integration.
Basiq is an open banking data platform founded in Sydney, Australia around 2015-2016. It is accredited under Australia's Consumer Data Right (CDR) regime, connects to a broad network of Australian and New Zealand banks and credit unions, and offers data enrichment (categorization) and verification products alongside its core account aggregation feed.
Accounts are linked through Basiq's hosted, consent-based connection flow. The account holder authorizes access explicitly, and once linked, the account status shows as verified in Xorosoft.
Yes. Balances, transactions, and reconciliation status update in real time as they happen, not on a delayed batch.
Yes. Every linked bank and credit account consolidates into one feed inside Xorosoft, giving a single view of cash across every institution.
Incoming transactions are auto-matched against open ledger entries. Anything that doesn't tie out is flagged for review instead of silently posting.
Yes. Actual balances and cash positions sync from Basiq into Xorosoft finance and reporting, giving a true, current cash flow figure instead of an estimate.
The integration monitors the connection and flags expired consent, mismatched amounts, and sync errors instantly, so issues are caught before reconciliation is delayed.
No. You can keep using your bank's own portal while Xorosoft stays in sync automatically through Basiq, so teams keep familiar tools with none of the manual re-entry.
By tying bank feeds directly into ledger matching, teams stop downloading statements and keying transactions by hand, so the books close faster with fewer errors.
Yes. Transactions are categorized and mapped to the right ledger accounts automatically, so recurring activity is coded consistently every time.
See the Xorosoft Basiq integration in action
Book a personalized demo and see how consented account linking, transaction sync, reconciliation, cash visibility, and finance reporting connect between Basiq and Xorosoft ERP and WMS.