Any small business owner knows that time saved in running the back-end, administrative tasks of their business can be reinvested back into growth, generating more sales and better serving customers. This is where Square’s integration with Xero is valuable. Sellers running Xero and Square can link their accounts in minutes, and once connected each day’s transactions are automatically imported, summarised, and populated to the appropriate account within Xero’s general ledger. A once tedious process—now made simple thanks to Xero and Square.
Today, we’re excited to announce several key updates to our partnership with Xero that will unlock new features you have been asking for.
✔ Pay Xero invoices online with Square
We know how important cash flow is to small businesses, and now when you create an online invoice in Xero and email it to your customer, you can now give them the option to pay it instantly via Square.
✔ Sync your historical sales data at the transactional level
You’ll get a daily sales summary in Xero that clearly shows you the previous day’s transactions. It captures tips, surcharges, and relevant taxes, too, so you can easily report VAT. Have multiple locations? With the new integration, Xero and Square can now separate transactions accordingly.
✔ Reconcile bank deposits easily by automatically separating out fees
When money is deposited into your bank account via Square, you’re able to reconcile it quickly. Because Xero automatically creates bank rules when you connect your Square account, any processing fees from Square are assigned to a fees account.
Not only are you saving precious time and increasing accuracy by cutting out manual data entry, but you can also access Xero’s cloud accounting software on your mobile device, meaning you’re always on top of the numbers, no matter where you are.
To bring you these enhanced features, we’ve partnered with Amaka, a professional accounting software integrations provider, to help you setup or upgrade your integration.
If you already have Xero integrated to your Square account you can easily switch to the new version here. Use your Square account to get started and follow the instructions to complete the setup, or read this setup guide for more information. Once you have completed the setup, your old integration will be automatically disconnected.
If you don’t yet have Xero integrated with your Square account, just log in to your Square Dashboard, and visit the Apps section to get started.