Cash is king…well, not really. The true king is actually cash flow 💸
Think about it for a second. You can sell as many products or services as you need, but at the end of the month, all that matters is the difference between your sales and expenses.
To stay up-to-date with your cashflow at any time, we’ve partnered up with Xero.
Why Xero + Paymo
Xero is a world-leading accounting software that allows small and medium businesses to send invoices, create expense claims, and categorize your latest bank transactions to keep your books in check.
Among its most notable features, you can benefit from:
- Transparent purchase orders – Prepare them quickly using inventory items and email them directly to your suppliers. You’ll also get a full audit trail of what’s been purchased, in which amount, and where and when to expect delivery.
- Repeating invoices – Set up repeating invoices or clone your last one and review, add, or amend details as necessary.
- Expense management – Upload personal expenses in multiple currencies directly on your phone, then have your manager review and approve them.
- Better security – Invoices that you send are protected from unauthorized changes, unlike a PDF attached to an email.
How it works?
Our new integration makes it possible to export invoices to Xero, as well as receive payments and sync them back in Paymo.
NOTE: Make sure that the taxes applied to the invoice match the ones applied to the account type in Xero, like the VAT or state tax.
NOTE: If you delete an already exported invoice to Xero, it’s also going to be deleted in Paymo. This doesn’t work the other way around though. Same goes for the received payments.
Xero is a paid service that offers a 30-day free trial. After that, plans start at $20/month.
So go ahead and give your accountant the good news, together with this step-by-step guide on how to configure it.