Manual entry of your bill payments into your accounting documentation can lead to errors, stalls in your organization’s productivity and hours of your employees’ time wasted.
But there is a solution.
Syncing up your accounting with your payments will do wonders for your employee productivity, savings, accuracy in reporting, and your organization’s overall growth in the long run.
If you’re currently using Xero for your accounting needs and are wondering how to tie a bill payment system in with your existing software, there’s good news – Spenmo has launched an update for automated integrations with Xero!
With this latest update, Spenmo has now enhanced its integration with Xero for a fully automated and error-free bill payment and accounting system.
Instead of manually entering bill payments into your Xero spreadsheet, Spenmo now does the work for you automatically. With every bill payment entered into your Spenmo system, your Xero account instantly updates with the billing information, saving you the hassle of transferring the information manually.
With this latest integration, the process of bill recognition to reconciliation is cut by 90% vs. using Xero only. If you’re wondering how it all works, here are the steps Spenmo takes to automatically to save you the time needed for manual entries:
Upload your bills in Spenmo by importing the billing document or snapping a photo. Once finished, a “Draft Bill”’ will automatically be created in your Xero account, including all category and tax details.
Once your bill is approved and ready, the status of your bill in Xero will be changed automatically to “Awaiting Payment”.
Once the transaction has been completed, your payment will be automatically synced with Xero to reflect the payment, updating your balance accordingly.
Here are some of the exciting features of the Spenmo-Xero integration that will make the payment process more seamless and efficient:
Upload up to 1000 invoices. Our system automatically extracts the data, reducing errors from manual data entry.
Spenmo handles both the bill creation and its payment, allowing 100% automatic and accurate reconciliation.
Spenmo sends you real-time updates on your payment’s status – from created, to paid and reconciled.
Replace expensive point solutions with a single platform that extracts and uploads bill data, processes employee claims, and automates payments.
By integrating the bill payment process, the entire process is simplified and saves your finance team the trouble of manually updating each bill payment.
Manual entry of bill payments is a laborious task that needs not to be done by your employees. By integrating the bill payment process, you can reduce the bill processing time by 90%.
Save your finance team time and resources in paying and reconciling your bills and give employees the opportunity to do more meaningful work to strengthen the business, allowing your organization to truly flourish.
In the long run, the ROI of integrating bill payments into your accounting process can save your business costs. Spend less on hiring more employees to perform manual tasks and instead spend on resources elsewhere to accelerate your growth and profit.
With automatic syncing between your payments and your accounting, you can pay billers and inform them of the status of their payment in an instant, avoiding penalties for late payments.
With the technology available, there’s no need for your Finance team to spend endless hours on reconciling bill payments. Eliminate manual entry tasks and free employees’ time up for less repetitive work to better serve your organization.
Say goodbye to manual bill uploads and reconciliation: With this advanced integration between Spenmo and Xero, payment and reconciliation happens in one platform – making sure that all payments are lined up with the unpaid bill in Xero.
Why not try it out today?
