Get paid faster with Payment Services!
Wouldn’t it be great if something happened that improved your cashflow and reduced the amount of time you had to spend processing payments? You bet it would, which is why the release of Payment Services is such great news!
Once you’ve signed up with one of the supported payment services, your customers will be able to pay you immediately when they receive an online invoice – they simply click the Pay Now button, enter their credit card details and voila – you’re paid!
And it gets even better. Not only will the money be shooting its way into your bank account but we will automatically create the payment in Xero ready for you to reconcile as soon as the transaction appears in your bank feed. Magic.
Check out how it works in this short video.
To make use of Payment Services you need to sign up with one of the following supported payment services.
GoCardless (UK) – actually uses a direct debit process rather than credit card payments and you don’t even need a merchant account. Nice.
DPS Payment Express (AU, NZ, UK, US, SA and Asia)
When you sign up you nominate which bank account you would like payments to be deposited into and will be given the details you need to hook the payment service up to Xero.
If you don’t have a merchant account set up to use with any of these providers, but occasionally wish to receive credit card payments, you can use the existing integration with PayPal to accept these. This is handy, for example, if you have a holiday home that you hire out now and then and people wish to pay for this via credit card. You can read the details on setting up payment services on this page in our Help Center.
We’ve also added a couple of enhancements in response to feedback we had on invoice settings and bank reconciliation.
New invoice settings to control how tax subtotals are grouped and what information is displayed on foreign exchange invoices
If you’ve been missing the ability to undo a bulk Mark as Reconciled action, you’ll be glad to hear this is now back (and if you don’t know what I’m talking about – don’t worry, you probably don’t need it!)
We’re still working on a number of other cool features and enhancements, including:
Email settings – a popular request on Community, you will be able to control how emails are sent from Xero. This work is all but ready and is scheduled to go out in about 3 week’s time.
Taxable Payment Annual Report – this one’s for the Aussies and will allow those in the building industry to comply with the ATO’s new reporting standards – will be released before the end of June.
Purchase orders – it’s taking a while but, as always, we think it’s worth doing properly. We’re going as fast as we can and will know more about when it’s likely to ship over the next few weeks.
Enjoy the new features and look forward to more rolling out over the coming months.
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