Multicurrency- Batch payments of Foreign Currency Bills.
Batch payments of Foreign Currency Bills.
Dear Xero,
Please consider the feature of being able to batch up foreign currency Bills. We often pay multiple invoices in one go, having to reconcile and mark as paid 10 invoices is extremely time consuming.
Chris Frankland
shared this idea
Hi team, appreciate wanting an update - I'm pleased to share the beta went well and we've now launched international bill payments for our UK customers, making it easier to pay overseas suppliers.
Using open banking, UK businesses can now securely send money to 180+ countries including Europe (EUR), America (USD) and Australia (AUD). So you don't have to juggle multiple platforms or hidden fees. Whether you're paying a single bill or multiple bills at once, you can authorise payments prepared by your team and easily track which suppliers have been paid.
We’re committed to new ways to expand our bill payments feature for small businesses and their advisors in other regions by leveraging new technologies, where available. I'll keep you updated of any further developments for this, here.
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JIHAD SALIBA
commented
Xero, unlike other similar accounting software, lacks a very important and BASIC functionality of enabling users to record batch payments of foreign currency invoices or bills in 1 step and asks the user to copy the full invoice amount when it can be simply "ticked"
Currently, an "Overpayment" entry needs to be recorded then applied by copying the invoices / bills amounts into the fields on the right hand side of the payment application screen.
Drawbacks:
1. It is time consuming for bookkeepers as it has to be done in a 2-step process instead of 1 step
2. The user functionality in Xero is awkwardly called "Overpayment" (should not be named as such as there is NO OVERPAYMENT whatsoever),it should be simply called a "Batch Payment" as it is -
AdminXero Team
(Admin, Xero)
commented
Ability to have batch pay for multiple foreign currencies.
Purpose: Because some organisations are dealing with foreign currencies, and it’ll save users time to be able to mark a payment in batch for their customers/clients.