Square, the company started by Twitter co-founder Jack Dorsey, replaces old and clunky cash registers with a card reader you can attach to your phone. Combined with Xero, retailers can now get a quick view of all their sales, fees and refunds as soon as they happen, removing all the manual data entry that business owners usually have to do at the end of a busy day.
With the launch of Square Reader, small businesses who use Xero will now be able to connect their Square account to their accounting dashboard in less than five minutes, cutting down manual data entry and bank reconciliation.
The integration with Square gives businesses access to features including:
- Mobile business is done right - Square lets businesses accept card payments whether they're at the counter, at the job site or on the go. Xero is all in the cloud, so owners can run their business from anywhere, on any device.
- Automatic bank reconciliation - All Square transaction data is automatically fed and matched into Xero, completely eradicating manual data entry. All payments, sales taxes, refunds and fees are fed to the right account in Xero, so business owners don’t have to worry.
- Business finances in real time - Businesses can see income statement and balance sheet at a glance in Xero. It converts the Square daily summary into an invoice with sales, tips, fees with a tax breakdown.
- Square customers that don’t yet use Xero will also be able to create an account, right from within their Square Dashboard.
“Our partnership with Square connects the best of both worlds. Square replaces clunky, expensive cash registers and connects it to Xero, the cloud software that has made accounting software beautiful and easy to use for 600,000 small businesses,” said Trent Innes, Managing Director of Xero Australia.
“Now businesses can sell to anyone, anywhere with a card, whether it’s in-store, at a pop-up market, or on the side of the road. There’s no more manual data entry or ensuring their accounting lines up with their point of sale — it’s all there at a glance,” he added.
“Square is committed to making card payments simple for Australian small business owners with the launch of Square Reader—an innovative, integrated payments device that allows you to accept credit and debit cards with one low rate across all card types, without long contracts or hidden fees,” said Ben Pfisterer, Australian Country Manager, Square. “Our partnership with Xero aligns strongly with this market commitment. Through Xero's seamless integration with Square, we are giving business owners time back that they can reinvest in growing their business.”
Proving that retail really can be done from anywhere, Square has also launched Square Market, a pop-up marketplace from 9-11 March at Federation Square in Melbourne. It showcases the very best of Australia’s small business heroes - with more than 30 per cent of the sellers also Xero customers (more than any other accounting software provider); it’s a great demonstration of how well Square and Xero work together.
“We wanted – and needed – to integrate Square into our Xero dashboard because farmers' markets are one of our primary sources of both revenue and marketing. To be able to facilitate a credit card transaction is just a godsend. Otherwise, you’ll lose prospective customers, and there’s nothing you can do about it” said Doug Ellinger, owner of Mason Creek Olive Oil. “Everything about the two services working together makes me feel so much more comfortable about how we’re running the business and what the future holds for us.