How it works
Tight’s Income Streams API makes it easy for your team to provide income tracking functionality to your users from many different data sources. This multitude of income streams can become unwieldy when there is overlap between the income sources. For example, if your user is a Square seller who also collects payments outside of Square (e.g. directly into their bank account), then your user will want to have Square and their bank account linked to your platform. But, when Square disburses the income (less its processing fees) into the user’s bank account, the result could double count the user’s income. Rest assured, the Tight API takes care of all of the above for you, and your development team will not need to do any Square-specific development. Specifically, in the above scenario, the Tight API will:- automatically pull in the user’s Square data
- create business income records for the top-line income that was earned
- create business expense records for Square’s processing fees
- reconcile transactions that come into the bank against the data from Square, resulting in bank transfer records (as opposed to double counting income, making 1099 reconciliation a breeze).