Getting more from xero ‘payment services’

Continuing our series of highlighting some really useful features in Quickbooks or Xero, we now highlight the importance of ‘Payment Services’ in Xero accountancy software – getting YOUR Customer invoices paid more quickly and easier!!

Find out more below!

What do ‘Payment Services’ do?

Xero includes a feature called ‘Payment Services’ which allows Customers to simply and easily pay their invoices using credit cards, Apple Pay, recurring payment arrangements or by direct debit! Once Xero is connected directly to Stripe, PayPal and GoCardless, it enables payments to be taken online through ‘links’ or ‘buttons’ on each of the invoices sent out to your Customers.  Additionally, mandates can be authorised with Customers to enable future invoices to be paid automatically on their ‘due date’ – or by direct debit!    

How do I use the feature within Xero?

Customers simply receive a ‘link’ or a ‘Pay Now’ button on each invoice sent from Xero, from where they can go online to make an immediate payment of the invoice, or to set up a direct debit.  Xero will also automatically reconcile the payments and the associated fees once the payment process has been completed! NOTE – to ‘connect’ each of Stripe, Paypal and GoCardless with Xero, the business is required to have an account with each of the payment providers.

When should I use it in my business? 

• Save time – significantly reduce your time on credit control as many more of your invoices will either be paid immediately or be paid by a known future date – freeing up your time to focus on more important things. 
• Improve business Cashflow  – Cash is King! Get paid quicker and more easily by Customers, ensuring more of Your cash is in Your account!   
• Accurate  – Xero will automatically ensure that the payments and associated fees are recorded accurately in the accountancy software 

GETTING MORE FROM XERO – USING ‘PAYMENT SERVICES’     

Do I need to set it up in Xero?  

Yes – each payment provider requires to be set up and configured in Xero! For Stripe and PayPal, it is a fairly straightforward ‘connection’ process, however as GoCardless provides both recurring payment arrangements AND direct debits, the setup and ‘connection’ process is more complex and detailed.   Is there any additional cost or is it included in my current subscription? No – this is a feature that is part of your existing Xero software subscription. However, there may be a ‘support or setup’ fee where you need additional assistance with the GoCardless setup and ‘connection’ with Xero. Can the Sakura Team assist with this? Yes. If you are on our Xero Support service, then arrange a call with Nasima who will be happy to discuss how the ‘Payment services’ feature may apply to your business and/or to assist with the ‘connection’ process.