Modern financial software makes it possible to work from one single platform, incorporating every tool needed for an effective and seamless workflow. Payment providers are an integral part of a business operation and should integrate with both back-office accounting and front-office sales software solutions. Finding local and international payment providers that integrate smoothly via easy-to-implement APIs with existing accounting tools is vital.
The XE platform offers both an API and existing integrations to accounting software such as Clearbooks, Sage, and SAP. Clients can operate effortlessly from one single platform as it incorporates accounting, invoicing, and international payments. As the client makes payments to vendors, it automatically pulls through to the accounting, eliminating many manual processes. Payments are instantly updated in the back-office accounting ledgers, and the processes are fully automated. One of the only downsides is that users may expect a learning curve.
Currencies Direct offers an online tutorial for simple API integration to existing accounting software. Companies that trade internationally can count on an expert support team during the implementation and roll-out. Software integrations operate seamlessly across platforms, and with every payment made, the back-office accounting updates automatically. Another one of Currencies Direct’s benefits is that it offers customized developments to clients’ specifications. It’s important to note, however, that new account registration requires official business registration documentation, which can take some time to process.
OFX offers full integration with Xero, a user-friendly, multi-currency accounting software that offers an end-to-end solution to small and medium-sized businesses. The OFX integration with Xero is free and easy to self-activate; activation is done in three quick steps directly from the provider’s platform and can be live in minutes. . There is, though, only one accounting software integration on the platform.
WorldFirst integrates with Xero Multi-Currency Accounting Software via an easy plug-in directly from its website. It’s live within minutes, and the user-friendly interface makes it self-explanatory and straightforward to start transacting instantly. The software works in the background to formulate accounting reports and analytics. Not only is integration free, but users can create invoices, make payments, and draw reports from a mobile app anywhere in the world. A downside is that, for a comprehensive accounting solution, Xero has to integrate with other software such as Quickbooks, Sage, or SAP.
Bill.com seamlessly integrates and syncs with existing accounting software and tech stack data software such as Expensify and Tallie. It offers partnerships and integrations (including those that are free and customizable) with accounting platforms such as Sage, SAP, and Freshbooks. It should be noted that Not all functions draw through to accounting software, such as voiding an invoice – it’s done separately on accounting software.
Integrating your payment system to existing accounting tools has clear advantages. Before making a decision on a payment provider, you might want to check how well it integrates with your own accounting software, and to what extent the integration allows for a quick and easy process. Go To Full Comparison