Today, I’m excited to share details of our latest release, which delivers a beautiful payments experience for you and your customers using PayPal and Xero.
The highlights of this release include:
- A slick checkout experience for your customers with PayPal Express Checkout and online invoices marked as paid
- You’ll get a real-time update on the status of an invoice in Xero
- PayPal & Stripe fees are automatically split out from payments and a spend money record is created
- Payments and fees are automatically matched against an invoice making reconciliation a breeze
Customers pay and get immediate acknowledgement
With the improved PayPal integration, your customers can pay your invoice with a couple of clicks. Once the payment is complete, the online invoice updates to show that it’s been paid.
Payment is reflected in Xero
The payment is also reflected in Xero, so that that you no longer have to wonder about the status of your invoice.
You’ll see the confirmation of payment show up in two places: in the history and notes of the invoice; and in the “receive money” transaction where the reference field automatically displays the corresponding payment ID from PayPal.
PayPal & Stripe fees are managed automatically
Xero also automatically manages the fees that PayPal and Stripe take for its services.
Not only is the payment recorded, but the fee is automatically recorded in the history and notes of the invoice. There’s a link to view the “spend money” transaction related to the fee, with the reference field displaying the corresponding payment ID from Stripe / PayPal. The fee is automatically coded to the account assigned to PayPal / Stripe fees – which you can easily set up and manage in the payment services settings.
PayPal payments and fees matched ready to reconcile
Xero automatically matches PayPal payments and fees, ready for fast reconciliation.
Just update your payment services settings
Best of all, the upgrade is free. All you have to do is update your settings in payment services.
The result: Xero does the heavy lifting
The result is a powerful, integrated invoicing solution – with Xero doing more of the heavy lifting so you can focus on delighting your customers and getting paid quickly.
What else we’ve been up to this year
Already this year we’ve delivered more ways to help you get paid sooner through Xero invoicing.
We started out the year by offering an easy way to support credit card payments through Stripe, multiple payment options, and access to these settings when raising an invoice. Then, just a few months ago, we released another wave of improvements that made online invoice pages responsive to the size of the viewer’s screen, as well as support for Braintree payment services.
There’s still lots we want to do, and we’re already making great progress on the next set of improvements, so stay tuned!