Xero and Stripe have partnered to help small business owners get paid faster, announcing an expanded online payment solution with automated reconciliation.
The seamless integration gives Xero’s more than one million subscribers greater choice of payment services, more cash flow control and enhanced efficiency through automation.
The Stripe reconciliation functionality means when a Stripe payout comes in through a company's bank feed, Xero will do the matching work. All the transactions in Xero are tied to the Stripe statement line and will be automatically matched against it so the business can reconcile them with one click. Xero automatically matches multiple transactions to a statement line, identifying payments and fees associated with their corresponding Stripe payout. Additionally, if there is a difference between the payout amount from Stripe and the total found in Xero, Xero will still find all the relevant transactions and bring them back as a partial match.