Streamline Xero Invoice Processing for Better AR Management

Choosing the right Xero payment integration is an essential decision for B2B companies. In today’s business climate, customers like having multiple digital payment options and expect the process to be fast, smooth, and secure.

Whether accepting online payments or automating billing and collections, finding a solution that works with your accounting software to speed up the payment process for AR convenience and efficiency and increase cash flow is essential.

In this post, we'll explain Xero, how businesses use it, what to look for in a payment integration, and how Paystand streamlines and automates invoices in Xero processing.

What is Xero, and How do Businesses Use It?

Xero is cloud-based accounting software offering small and medium-sized businesses attractive integration options to make accounting almost seamless. It has become dominant in ERP, especially among high-growth companies.

Because it's cloud-based, all financial data is stored online and can be accessed anywhere from any device with an internet connection.

Here are some reasons why businesses use Xero:

1. To shift from paper and PDF invoices to seamless, online invoicing
2. To give customers a direct invoicing option
3. To set up automated reminders to avoid delays in the billing and collections process
4. To collaborate with other AR team members in a shared environment
5. To access powerful integrations that optimize the AR management process

What Are the Advantages of Sending Invoices from Xero?

There are several advantages to sending invoices from Xero, including:

• Time-saving. Xero automates many of the tasks associated with invoicing, such as generating invoices, tracking payments, and sending reminders. This can save you a significant amount of time.
• Accuracy. Xero integrates with your accounting data so you can be confident that your invoices are accurate and up-to-date.
• Professional appearance. Xero offers a variety of invoice templates that you can customize to match your brand. This can help you create professional invoices and make a good impression on your customers.
• Convenience. With an internet connection, you can send invoices from Xero anywhere. This can be especially helpful if you're on the go or working remotely.
• Payment options. Xero offers a variety of payment options, including credit cards, debit cards, and bank transfers, making it easy for your customers to pay their invoices.
• Security. Xero is a secure platform that protects your data. This includes your customer's personal and financial information.
• Integration with other software. Xero integrates with various other software, such as CRM and e-commerce platforms. This can help you streamline your workflow and improve your overall efficiency.

Can You Set Up Automatic Invoices in Xero?

Yes, you can set up automatic invoices in Xero. Here's how:

1. Go to the Settings menu and select Invoice Settings.
2. Click the Automatic Invoices tab.
3. Select the Enable automatic invoices checkbox.
4. Choose how often you want to send automatic invoices (daily, weekly, or monthly).
5. Select the invoice template you want to use.
6. Enter the email addresses of the customers to whom you want to send automatic invoices.
7. Click the Save button.

Once you have set up automatic invoices, Xero will automatically create and send invoices to your customers on your specified schedule.

Optimizing Xero with Paystand’s Integration

Improving on Xero's speed, efficiency, and automation capabilities, Paystand created an integration to fulfill the three most essential AR needs according to CFOs:

• Transaction fee management and cost reduction
• Quick and efficient payment capture to speed up cash flow
• AR optimization for better efficiency and productivity

The Paystand Xero integration automates the highly manual AR process with software to invoice, manage, and reconcile customer payments.

Manual processes are significantly reduced to achieve massive efficiency and ROI when integrated with Xero. Using Paystand, businesses convert receivables into cash 62% faster than the competition, saving up to $90K in labor, $850K in fees, and $1.2M in total AR costs (in three years).

Paystand's features and capabilities include:

• Wholesale card rates and least-cost routing for lower payment processing costs
• Automated collections and subscription plans
• Virtual terminal for secure phone, in-person, and mail payments
• Unlimited zero-fee payments on direct bank transfers via the Paystand Bank Network

Ready to upgrade your Xero payments experience? Book a demo with one of our experts today and take your accounts receivable to the next level.