Key takeaways
- Integrations sync payments and fees into your books.
- Accounts payable tools pay bills straight from your workflow.
- Multi-currency transactions need correct exchange rates recorded.
- Start with your highest-volume payments.
What to automate first
| Task | How automation helps |
|---|---|
| Paying bills | Approve and pay invoices from one workflow |
| Recording payments | Payments sync to your accounting software automatically |
| Fees and FX | Conversion rates and fees recorded with each transaction |
| Bank reconciliation | Transactions matched to entries instead of by hand |
Tools that connect to accounting software
- Plooto: pays invoices, including in foreign currencies, from your accounts payable workflow, with QuickBooks and Xero integrations.
- Wise Business: integrates with QuickBooks, Xero and Sage.
- Most payment processors: export or sync payouts and fees to accounting software; check the integration for your platform.
A worked example
A business paying 60 supplier invoices a month spends hours entering and matching each one. With an accounts payable tool synced to its accounting software, invoices are approved, paid and recorded in one flow, and reconciliation becomes a review rather than a rebuild.
Common mistakes
- Recording foreign payments at the wrong exchange rate.
- Automating payments without an approval step.
- Connecting tools without agreeing who owns reconciliation each month.
Providers that can help
Compare these providers, then request a free, no-obligation quote.
Accounts payable with QuickBooks and Xero sync
$0 FX transfer fee
Integrates with QuickBooks, Xero and Sage
From 0.48% Conversion feeFAQs
What is payment reconciliation?
Matching the payments in your bank and payment accounts to the entries in your accounting records, so your books are accurate.
Which payment tools integrate with QuickBooks and Xero?
Many do. Plooto integrates with QuickBooks and Xero, and Wise Business integrates with QuickBooks, Xero and Sage. Check each provider’s current integrations.
How do I record foreign-currency payments correctly?
Record the exchange rate and fees actually applied to each payment. Integrations that sync transactions directly help avoid errors.
Is payment automation worth it for a small business?
It often is once you pay more than a handful of invoices a month, because it saves time and reduces errors.
Sources: Plooto and Wise published product information.