Monday, 06 August 2018 10:27

Xero adds GoCardless integration

By
Xero Australia financial industry director Ian Boyd Xero Australia financial industry director Ian Boyd

Cloud accounting provider Xero now offers GoCardless integration to its Australian users.

UK-based GoCardless provides a convenient way for small businesses to receive payments from their customers via direct debit.

The Xero integration with GoCardless triggers the debit on the due date of an invoice, eliminating the need to chase unpaid invoices and improving the accuracy of cashflow forecasting.

The invoice is automatically marked as paid within Xero.

According to Xero, connecting a user's GoCardless and Xero accounts is a simple process, with no additional configuration.

"Direct debit payments in Australia have traditionally only been available for major companies who can afford the necessary complex systems and processes," said Xero Australia financial industry director Ian Boyd.

"By working with GoCardless and making more payment options available, we are helping small business to be as efficient and effective as big business. The aim is to spend less time chasing payments and to get paid faster. This then gives small business owners more time to focus on things that matter to them, like growing the business."

Xero GoCardless integration - mandates

The two companies have been working together in the UK. Eighty percent of small businesses surveyed there reported reductions in payment times and improvements in cash flow as a result of accepting payments through the integration.

"GoCardless is democratising direct debit for small businesses. We have modernised the process with innovative technology partners such as Xero and removed the stress and complexity," said GoCardless founder and chief executive Hiroki Takeuchi.

"We're delighted to extend our existing successful partnership beyond the UK and help small businesses take control of payments to ensure they get paid on time, every time."

GoCardless charges a 1% transaction fee, with a minimum of 35c and a maximum of $3.50.

Its Plus plan costs an extra $100 per month, but has the advantage of displaying the merchant's name in customers' bank statements.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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