The cloud accounting provider adds PayPal Express Checkout support so that customers don’t have to leave your website to make a payment.
Cash flow is a perennial problem for many small businesses, and Xero reckons forthcoming improvements to its PayPal integration will help users get paid more quickly.
The advantage of PayPal Express Checkout is that it can keep the payment process inside your website, rather than redirecting the customer to PayPal’s site.
Other benefits of Xero's integration include showing the PayPal fee as a separate line item that can be automatically reconciled to an account according to a rule.
“We are currently preparing for the launch of our latest collection and the integration of PayPal and Xero has streamlined the financial management of my business and allowed me to focus on the creative outputs of my brand,” said Libby Watkins, founder of Sydney-based Libby Watkins Art.
“Xero ensures no overdue invoices are outstanding and PayPal facilitates efficient and secure payments which is a massive weight off our shoulders.”
Don't assume that PayPal is only for consumers. Some businesses that accept PayPal from their customers find it a convenient way of paying their suppliers, especially for international remittances.
PayPal also provides a way to receive credit card payments without having to set up a merchant account.
“We constantly hear about businesses who spend their time chasing unpaid invoices instead of actually running their business. Making it easier for customers to pay an invoice from Xero speeds up the time to getting paid, and PayPal is one of the easiest payment solutions around,” said Xero Australia managing director Trent Innes.
“By connecting the Xero accounting dashboard to PayPal, small businesses can get paid faster, improve their cash flow, and focus on the important things that help them grow their business.”