Melio syncs payments data with Xero

With this integration small businesses can automatically sync data between the payments platform and Xero’s accounting software. This helps them save time on paying bills, makes reconciliation easier, and provides better visibility into upcoming payments.

According to officials from Melio, this two-way sync with Xero will help small business customers better understand how much money is going in and out of their accounts at a time when it is critical to keep a close eye on cash flow. Moreover, this integration will help simplify the bill-paying process while providing them with more visibility and control over their day-to-day finances.

Lighter workload for accounting teams

There are 33.2 million small businesses in the United States, equivalent to 99.9% of all businesses in the nation. This integration will help these businesses spend less time on bookkeeping and more time growing their operations. Small businesses’ bills, payments, and invoice information will be automatically synced between the two platforms, saving time inputting information into separate accounts and removing the guesswork associated with matching payments with open invoices.

Also commenting on the partnership, Xero’s representatives said that integration offers value to their accounting and bookkeeping partners and their small business clients. Melio and Xero have a shared vision of championing small business. They look forward to helping their customers streamline workflows and save time with this integration so they can focus on growing and running their business.

This marks Melio’s fourth synchronisation with an accounting software company to date, building upon the company’s record of partnering and integrating with financial institutions, software providers, and marketplaces.

What does Melio do?

Melio is a B2B payments technology company that enables small and medium-sized businesses to quickly and seamlessly transfer and receive payments, helping them improve cash flow and workflow. Melio is transforming how money is moved between businesses. It serves financial institutions and software companies that want to provide Accounts Payable and Receivable products for their small business customers. Melio was founded in 2018, with headquarters in New York, an R&D centre in Tel Aviv, and western US headquarters in Colorado.