Stress levels can reach record highs at End of Financial Year. Many businesses struggle to cope with the mountains of paperwork and tight deadlines, but does it need to be so stressful? There’s plenty of advice out there on how to reduce EOFY stress, and there’s always a common theme – keep your records organised and your accounts balanced throughout the year.
Your invoice payments make up a large part of this balancing act. One thing you can do to make End of Financial Year much easier is keep on top of your reconciliation – matching the invoice payments between your bank account and accounting system throughout the year.
Reconciliation can be a time-consuming and costly process. However, there are two solutions that can be combined to make this process faster, easier and more cost-effective – Xero cloud accounting and IntegraPay payment solutions.
Using Xero with IntegraPay’s payments add-on is a fast and simple way to collect online payments for both repeating and single invoices. It enables you to accept all major payment methods, schedule payments, and automatically reconcile your accounts. Adding a convenient ‘pay now’ button to your invoices will get you paid faster, save time on payment collection, and your cashflow will improve.
When it comes to reconciliation, IntegraPay’s add-on for Xero is well ahead of the pack. What can otherwise take hours is reduced to just a few seconds. This is a major time saver, and an easy process to stay on top of throughout the year, helping you to arrive at End of Financial Year in good shape.
When IntegraPay processes a customer payment, invoices are automatically matched to payments within Xero. This sets everything up nicely for bank reconciliation – and this is where IntegraPay races ahead of the competition. With IntegraPay, you can reconcile your bank account with multiple invoice payments in just one click.
Other payment add-ons for Xero require painstaking scrolling up and down the page to match multiple bank statement lines and payments. This is not the case with IntegraPay’s add-on for Xero. All this hard work is automated for you – just one click to complete your reconciliation. Reconciliation has never been quicker or easier.
Automated invoice payments and reconciliation with Xero and IntegraPay enables you to grow your business, whilst keeping your records organised for a stress-free End of Financial Year. It’s a profitable and much healthier option.
To find out how IntegraPay’s add-on for Xero can transform your business, submit your details below and one of our team of payment specialists will contact you.