by Ray Hayes
It isn’t an exaggeration to say that every small business owner wants to get paid faster. The quicker you receive a customer’s payment, the sooner you can settle debt, reward / hire employees, and investment in future developments. For those wishing for shorter payment terms, I have some good news. Xero and Stripe have partnered to help small business owners create “an expanded online payment solution with automated reconciliation.”
So, the question now is how does this all work? Well, once a Stripe payout comes into your bank feed, Xero will come in and match multiple payment transactions to your statement line, while finding anything that will be associated with your Stripe payout including fees and payments. As a result, small business owners will receive credit card payments much quicker for online e-bills. Bottom line small businesses get paid faster.
In words of the poetic Shaolin Warriors better known as the Wu-Tang Klan, “Dollar, Dollar, bills ya’ll!”