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  1. Multicurrency- Batch payments of Foreign Currency Bills.

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    173 comments  ·  For small businesses » Accounting features  ·  Admin →
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    working on it  ·  AdminKelly Munro (Community Manager, Xero) responded

    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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    Mike Tebbutt commented  · 

    We are a UK business where our 2 main suppliers are in the USA. We receive 10s of bills from each per month. They both expect a remittance advice when we make a payment. We typically pay 20-30 invoices each payment run. Currently we have to create a payment for each individual bill. The supplier certainly doesn't want 20 individual remittance advices!

    There doesn't need to be a clever export file for then bank for the foreign payment. Just the ability to select a group of foreign bills to pay as a batch, and then send one remittance advice covering all the bills included in that payment.