Manage Xero accounting integration with streamlined business expense tools
Xero is one of the leading cloud accounting software solutions available today. It offers automated bookkeeping, financial reporting, invoicing, and payment tracking features ideal for small and growing companies.
Payhawk, however, is designed to support business spend management. Paying for a SaaS subscription? Closing vendor invoices? Payhawk can help you manage company cards and card controls, expense management, AP, and reimbursements all in one place.
Cardholders simply need to pay with their card, take a photo of their receipt and upload it to the Payhawk app. Next, they select a spend category and job done.
Meanwhile, the Finance Team sets bulk card controls, manages individual and team card issuance, sets up approval workflows, checks reports, automates receipt chasing, and more — all in one place.
By integrating the two key platforms, Payhawk and Xero, you’ll be able to:
- Sync your Payhawk spend management solution (including debit and credit cards and expense management software) directly with Xero with just one click
- Automatically import transactions and expense document attachments into your Xero accounting software in real time
- Remove manual data entry from your accounting process
- Keep track of all your expenses in real time
Stay on top of spending with an automatic bank feed
Payhawk lets you sync your Payhawk expenses with Xero accounting in real time, so you can be sure that you record all of your transactions accurately and automatically. With the automatic bank feed, there's no need to worry about missing out on any payments or expenses. Payhawk does it all for you.
The moment a transaction gets settled, it's automatically pushed to Xero's bank feed — no need to manually enter the information or wait until you get your monthly statement.
You'll always have access to the most up-to-date information about your transactions to stay on top of spending. This integration also lets you record payments in Xero as invoices in Payhawk, eliminating double data and allowing you to spend less time bookkeeping, reconciling, and chasing missing information and more time growing your business.
Consolidate your financial data in seconds with one-click automated bank reconciliation
It's vital to accurately reconcile your company's bank transactions to avoid inconsistencies in future audits and tax returns and get a complete view of cash flow.
Real-time bank reconciliation lets you accurately determine how much money is coming into and going out of your bank account to support your team in making important decisions for your company's financial health.
Automated bank reconciliation with Payhawk and Xero integrations will help you:
Easily edit or delete expenses
Make adjustments to bank statements and cash balance with any expense from the app, so there's no need to go back and forth between apps to fix mistakes.
Generate reports on spending trends
Get insights into your spending habits by generating reports showing how much you spend each month on particular categories, such as food and entertainment or travel expenses.
Export data for further analysis
Perform a detailed analysis of your bank accounts, like comparing expenses against income over time or seeing where your colleagues are spending money and in what categories.
View all transactions in one place
Make better decisions thanks to integrated software that automatically syncs with your accounts and displays all transactions in one place. There's no need to search through multiple apps for specific transactions.
Integrate expense and accounting software for accurate VAT calculation
Keep your business running smoothly during tax season with Payhawk's expense and accounting software integration with Xero. You can manage your finances, track expenses, and ensure your business complies with tax law.
Calculating VAT is already complex (due to the many variables involved), so it's vital to use the right software for this.
Take MDM Props, a London-based arts fabrication company, for example.
"Before Payhawk, our team was still collecting paper receipts, and if they couldn't find them, then we couldn't claim VAT. We spend a lot on materials for events and can get VAT bills of around £240K just for one quarter, so missing out on the reclaims was massive," Uchenna, Finance manager at MDM Props, explained. "Now, with Payhawk, our cardholders take a photo of the receipt, upload it to the app, and select a spend category in seconds. It's no effort for them and can save the business thousands."
Maintain an integrated financial system that suits your needs
Payhawk is a next-generation expense management software that syncs your expenses with Xero in real time and helps you stay on top of spending. Our intelligent integration allows you to easily track sales, expenses, and revenue, meaning you'll always have an up-to-date view of your finances.
Furthermore, at Payhawk, we built our integrations with accountants and finance managers in mind. Our intelligent integrations follow the accounting accruals concept, meaning that all your spend data flows in perfect sync.
Find out more about how to track your expenses with real-time integrations and simplify your company's finances. Book a demo today.