What it means
A coordinated business record
An ERP system brings operational and financial processes together. Its scope depends on the installed modules and configuration; the label does not mean every company uses one database or the same accounting workflow.
Connecting payments
A payment integration maps external transactions to customers, orders, invoices and ledger records. It must handle identifiers, currencies, taxes, fees and state changes consistently. Reconciliation provides evidence that imported transactions agree with provider and bank records rather than merely appearing in an order screen.
Related concepts
Invoice, Payment reconciliation, Application programming interface.
In practice
A concrete example
A distributor links a payment reference to the ERP invoice and later reconciles the net payout and fees against the bank record.
Technical notes & boundaries
Installing a connector does not automatically validate accounting treatment, eliminate duplicates or establish support for every ERP version.
Go to the source.
Original references used for this definition. Product details and standards can change.