Yoco, a digital payments platform for small businesses, has announced its integration collaboration with small business accounting platform Xero.
The move was announced recently at the Xero Roadshow, an event connecting accountants, bookkeepers and apps that support small companies.
According to a statement, the new integration streamlines how small businesses manage their finances by automatically syncing sales and pay-out data from Yoco into Xero. The result is less manual reconciliation, faster month-end processes and better visibility into business performance, it says.
“By integrating with Xero, we’re saving small business owners time, money and guesswork by eliminating friction between payments and accounting, so business owners have more time to focus on growth,” says Carl Wazen, co-founder of Yoco.
Yoco provides a digital commerce platform that helps 200 000 small companies in SA to accept payments via its devices. Its offerings include card machines, online payments and point-of-sale devices.
Xero provides cloud-based accounting software for small firms.
For Yoco merchants that use Xero as their accounting software, this integration enables card sales, VAT and bank account settlements to be seamlessly updated into their Xero account, says the statement.
The Yoco-Xero integration is now live, with early adopters reporting time savings and fewer errors in reconciliation, according to the companies.
“South African small businesses face unique challenges, and having access to real-time financial insights is critical to help them make more informed business decisions,” said Colin Timmis, South Africa country manager for Xero.
Share