Handling payments efficiently is a struggle for many small businesses using Xero. Yes, you can connect your Xero account with HMRC to more easily prepare and submit your returns so you never miss a deadline. HMRC recognises Xero’s software, which is also compliant with Making Tax Digital (MTD). A new plan, specifically for non VAT businesses, with features designed for sole traders and landlords.

What is tap to pay — and can it help you avoid late invoices?

You’ve now received the first payment upfront with tap to pay and can then set up consumers with a recurring billing plan. If a customer’s card fails or the card on file expires, tap to pay provides a secure fallback. With the Stripe and Xero integration, your customers can pay invoices using their preferred payment method. Xero’s accounting software has flexible plans so you can adjust your subscriptions to access the features you need as your business grows. The search functionality and clear category structure make it easy to quickly find answers to specific payment processing questions.

Popular features

Choosing the right payment service for a business’s needs is critical for efficient transaction handling in Xero. By streamlining payment collection and reconciliation, Xero improves cash flow for businesses. Import files must be in CSV format, as Xero requires this to process your credit card transaction data correctly. Ensure your file follows Xero’s formatting guidelines, with clear column headers and consistent data formatting, for smooth importing. Visit the Xero App Store and hit “Get this app” to activate your 30-day trial — no need for a credit card! You can also sign in directly through SaasAnt using your Xero login details.

Jump in and learn how to accept payments online

This is useful if you want to set up an account dedicated to receiving online payments or automatic bank feeds. With a few quick steps, Xero accounting software can be set up to process customer invoice payments directly. This saves significant time over collecting and reconciling payments manually. Minimise late payments by automatically debiting your customer’s bank account on the due date of your Xero invoice. GoCardless integrates with Xero, so scheduling and reconciling payments is easy.

Chasing outstanding invoices: 8 ways to help you get paid

• The progress payments will show on their own sub-tab under Accounts Receivable for easy tracking.
• Get the money in your account by giving your customers the chance to pay online by card, and accept payments straight from your invoices.
• This opens an interface to upload your credit card transactions file.
• This saves significant time on manual tasks while improving cash flow visibility.
• Bank payments will now flow directly into Xero for reconciliation.
• Then sign in or create an account and link your bank account to receive deposits.

Learn about emerging trends and how staffing agencies can help you secure top accounting jobs of the future. Reconciling regularly makes bank reconciliation almost effortless. Once all details are entered, click “OK” to record the spend money transaction. Xero will automatically calculate and display the tax amount based on the total amount and tax rate entered.

• Choose a merchant service provider that can integrate with your invoicing software.
• Xero accounting software integrates with several payment processors for tap to pay functionality, like Stripe.
• Customers that are offered convenient online payment methods pay invoices earlier.
• If you selected “For progress amount / deposit”, enter the specific dollar amount to invoice.

Learn how tap to pay works and why it’s becoming essential for small businesses to speed payments and boost cash flow. Following these steps ensures your Xero accounting and reporting remains up to date when processing payments. Letting Xero handle the calculations streamlines transaction data entry.

Accounting software for your US small business

Running your small business is easier when you accept online payments. Xero offers robust customer support resources to help troubleshoot any issues related to processing payments and transaction handling within the software. Their help center, direct assistance channels, community forums, and regular feature updates empower users to efficiently manage payments.

Help your team understand that tap to pay uses NFC to process payments with devices held 1–2 inches from the card reader. Teach them the types of payments that work with tap to pay, such as tap-enabled credit or debit cards, mobile phones, and smartwatches. Minimize late payments by automatically debiting your customer’s bank account on the due date of your Xero invoice.

How to do a transaction payment in Xero?

By leveraging Xero’s payment integrations, businesses can simplify payment collection, reduce manual work, and gain greater visibility into cash flow. Proactively learning about the latest developments enables users to maximize value from Xero’s payment offerings. Automated reconciliation provides real-time visibility into cash flow. This helps businesses better understand their financial position. Xero payroll offers a range of reports for internal use and helps you meet HMRC requirements each month. You can give your employees self-service access so they can view payslips, request leave, and submit timesheets directly from Xero.

Then sign in or create an account and link your bank account to receive deposits. Customers often prefer contactless payments because they’re fast, easy, clean, and secure. An easier payment process could mean they’re more likely to make additional purchases, which can help boost sales.

Does Xero do payment processing?

Yes – Xero partners with Gusto for a full-service payroll solution. Gusto saves you time on all aspects of your payroll – including calculating employee pay and deductions – thanks to its clever automations. All pricing plans cover the accounting essentials, with room to grow.

For direct debit, the fee will depend on the size of the transaction but should never get any higher than about £2 per transaction. For direct debit, the fee will depend on the size of the transaction but should never get any higher than about $2 per transaction. Merchant service providers are specialist companies that handle online payments for you. Generally speaking, how to integrate credit card processing into xero some of them focus on debit and credit card processing, others focus on ACH processing, and a third category looks after direct debit. Get the money in your account by giving your customers the chance to pay online by card, and accept payments straight from your invoices. Xero works with secure online payment services to help you get paid sooner.