Get started with Lending

Learn how to perform the initial setup for the Lending solution

Your lending journey

Our Lending solution supports the data collection step of your lending journey, which starts in your own web application. Enable Lending and configure it, then embed our Link SDK in your app to handle the auth flow. Determine where the collected data will be stored and manage the subsequent steps of the lending process in your app.

Enable Lending

1. Open the Codat Portal and sign in.
2. Click on Settings > Organizational settings > Products.
3. In the list of products, find Lending and click Enable. Then, follow the on-screen prompt.

Configure Lending

Data sourcesData source An external platform (such as QuickBooks, Xero, or a bank) that Codat integrates with to pull or push financial data.

In the Codat Portal, navigate to Settings > Integrations to enable and set up the integrations that will serve as a data sourceData source An external platform (such as QuickBooks, Xero, or a bank) that Codat integrates with to pull or push financial data. for the solution. Follow the respective guides for integration-specific instructions.

Data sourceData source An external platform (such as QuickBooks, Xero, or a bank) that Codat integrates with to pull or push financial data. coverage varies by feature, so be sure to review the coverage for the features you want to use.

Accounting

Dynamics 365 Business Central

Premium

Dynamics 365 Finance & Operations

Premium

Exact Online

NL

UK

FreeAgent

FreshBooks

MYOB Business

Oracle NetSuite

Premium

QuickBooks Desktop

Premium

On-premise

QuickBooks Online

Sage 50 Accounts

Premium

On-premise

UK

Ireland

Sage 200 Standard

Sage Accounting

UK

US

Ireland

Canada

France

Germany

Spain

Sage Intacct

Premium

Wave

Workday

Premium

Xero

Zoho Books

Banking

Plaid

TrueLayer

Commerce

Amazon Seller Central

BigCommerce

Clover

Lightspeed Restaurant

K Series

Shopify

Square

Stripe

WooCommerce

Zettle

Authorization flow

As part of using Lending, you will need your customers to authorize your access to their data. To do so, use Link - our pre-built, conversion-optimized white-label authorization flow.

We recommend you fully embed this auth flow in your experience by using our Link SDK in your front-end code. You can also choose our out-of-the-box Hosted Link auth flow option to get up and running as quick as possible.

The solution lets you tailor the authorization journey to your business needs. You can:

• Customize Link settings
• Set up company branding
• Set up redirects

Data types

Set the minimum set of data types required for Lending to fetch on first link. Each feature may also have additional data type requirements, so be sure to review these for the feature you want to use.

In the Codat Portal, navigate to Settings > Integrations > Data types. As a minimum, you need the following data types enabled:

Data sourceData source An external platform (such as QuickBooks, Xero, or a bank) that Codat integrates with to pull or push financial data.	Accounting	Banking	Commerce
Data types	company chartOfAccounts balanceSheet profitAndLoss bankAccounts bankTransactions	banking-accounts banking-transactions banking-transactionCategories banking-accountBalances	commerce-companyInfo commerce-customers commerce-orders

Configure the solution to refresh data when you need it by setting a synchronization frequency on the same screen. We recommend setting it to a daily or a monthly syncSync The process of fetching the latest data from a connected data source. Syncs can be triggered manually or run automatically on a schedule..

WebhooksWebhook An automated notification sent from Codat to your application when specific events occur, such as when data syncs complete or connections change status.

Codat supports a range of event types you can listen to that help you manage your data pipelines. Many of these events send a message for each dataType separately.

In the Codat Portal, navigate to Settings > WebhooksWebhook An automated notification sent from Codat to your application when specific events occur, such as when data syncs complete or connections change status. > Create consumer and click Add endpoint to add a new webhook consumer endpoint and get the most out of Lending:

• DataSyncStatusChangedToError

  This means an issue occurred when syncing the specified data type. Resolve the issue and initiate the sync for this dataset again.

• Dataset data changed

  This means data has been updated for the specified data type. This can include new, updated or deleted data. You should then refresh the data in your platform.

• Account categories updated

  This means categories associated with accounts have been updated for the categorized profit and loss statement and the categorized balance sheet statement components.

Use Lending

Before you can collect your SMBSMB The primary customer segment that Codat helps businesses serve, typically companies with annual revenues under $500 million. customer's data, you need to create a Codat company and connect it to a data sourceData source An external platform (such as QuickBooks, Xero, or a bank) that Codat integrates with to pull or push financial data. (for example, an accounting software). You can do that in two ways:

• In the Codat Portal by navigating to Companies > Create companyCompany In Codat, a company represents your customer's business entity. Companies can have multiple connections to different data sources.
• By calling the Create company endpoint of our APIAPI A set of rules and protocols that allows different software applications to communicate with each other. Codat provides APIs for accessing financial data from accounting, banking, and commerce platforms.

Remember to authenticate if you are making calls to our APIAPI A set of rules and protocols that allows different software applications to communicate with each other. Codat provides APIs for accessing financial data from accounting, banking, and commerce platforms.. Navigate to Developers > APIAPI A set of rules and protocols that allows different software applications to communicate with each other. Codat provides APIs for accessing financial data from accounting, banking, and commerce platforms. keys in the Portal to pick up your authorization header.

To establish a connectionConnection A link between a Codat company and a data source (like an accounting platform). Each connection represents authorized access to pull or push data from that platform. to a data sourceData source An external platform (such as QuickBooks, Xero, or a bank) that Codat integrates with to pull or push financial data. and syncSync The process of fetching the latest data from a connected data source. Syncs can be triggered manually or run automatically on a schedule. business data, your customer must grant you access. They can do so using our Link auth flow solution, which we recommend you use in your app.

Once the connectionConnection A link between a Codat company and a data source (like an accounting platform). Each connection represents authorized access to pull or push data from that platform. is established, Codat will retrieve data for the data types you have previously set up to fetch on first linkLink The authorization flow that allows end users to connect their accounting, banking, or commerce platforms to your application via Codat.. You can listen for the NewCompanySynchronized event to get notified once these initial syncsSync The process of fetching the latest data from a connected data source. Syncs can be triggered manually or run automatically on a schedule. are complete, and at least one of them is successful.

• 

  Underwriters

  Make use of our Excel export reports to audit source data and perform underwriting with confidence.

• 

  Developers

  Interact with our Lending reference to understand required body parameters, responses, and errors. Use our client SDKs to simplify your implementation journey.

Client libraries

Use our comprehensive Lending library to kick-start and simplify your build. Simply install the library in one of the supported languages and pass your base64-encoded APIAPI A set of rules and protocols that allows different software applications to communicate with each other. Codat provides APIs for accessing financial data from accounting, banking, and commerce platforms. key to the constructor.

TypeScript

Install

NPM

npm add @codat/lending

Yarn

yarn add @codat/lending

Initialize

import { CodatLending } from "@codat/lending";

const lendingClient = new CodatLending({
  security: {
    authHeader: "Basic BASE_64_ENCODED(API_KEY)",
  },
});

Python

Install

pip install codat-lending

Initialize

from codat_lending import CodatLending
from codat_lending.models import shared

lending_client = CodatLending(
    security=shared.Security(
        auth_header="Basic BASE_64_ENCODED(API_KEY)",
    ),
)

C#

Install

dotnet add package Codat.Lending

Initialize

using Codat.Lending;
using Codat.Lending.Models.Shared;

var lendingClient = new CodatLending(
    security: new Security() {
        AuthHeader = "Basic BASE_64_ENCODED(API_KEY)",
    }
);

Go

Install

go get github.com/codatio/client-sdk-go/lending

Initialize

import (
	"context"
	lending "github.com/codatio/client-sdk-go/lending/v4"
	"github.com/codatio/client-sdk-go/lending/v4/pkg/models/operations"
	"github.com/codatio/client-sdk-go/lending/v4/pkg/models/shared"
	"log"
)

func main() {
	lendingClient := lending.New(
		lending.WithSecurity(shared.Security{
			AuthHeader: "Basic BASE_64_ENCODED(API_KEY)",
		}),
	)
}

Read next

Explore the features that make up our Lending:

• Bank statements
• Sales
• Financial statements
• Liabilities
• Accounts receivable
• Accounts payable