The app marketplace features over 800 third party apps which connect to Xero. We have concentrated on the ones which help cashflow by ensuring small businesses get paid faster.
Xero has partnered with Stripe to let businesses add a ‘pay now’ button to their invoices to collect online payments instantly. These payments can me made by credit or debit card. Stripe customers can facilitate pay-outs in minutes thereby improving cashflow.
The easy way to collect direct debits, quick to set up and admin is reduced due to auto reconciliation. Go Cardless enables customers to collect ad hoc/variable or recurring payments from customers around the world with a pre-built integration with Xero. Instalment option is coming soon allowing a single invoice to be split into smaller payments – all good for keeping the cash flowing!
This new solution is a transformative way for small businesses to pay bills. Irrespective of who they bank with, this solution can reduce time paying suppliers by paying multiple bills quickly and at the same time reconcile the accounting ledger for these payments.
As Dafferns operate a virtual accounts function for our clients this will also enable us to work even more efficiently by streamlining transactional processing.
If you have any questions or need further information, please contact Mandeep or Sally in the Small Business department.