Xero accountant

6 min

Using Xero as an Accountant? Enhance the Payment Experience with Libeo

Do you use Xero as your accounting software? As powerful as it is, Xero doesn’t do approvals of invoices or payments. Did you know that Libeo can improve on what Xero itself misses out on? If not, then find out how Libeo can improve the payment experience for your business.

Glen Foster

Glen FOSTER • Libeo

Published on | Updated on

Manage your Invoices on Xero, Pay Them with Libeo

Xero is one of the most used accounting softwares in the UK. If you're a professional using one of Xero's versions for accountants (Xero GQ, Xero Practice Manager, Xero Workspaper) and / or owner of a Xero advisor certification, you know that the software is great for accounting and invoicing, but it isn't designed to handle payments. If you have multiple people using Xero in your business, payments can get confusing. And if you have more than one person paying invoices, it's even more complicated. That's where Libeo comes in handy!

Among Xero partners is Libeo. Simply put, Libeo can pull invoices in from Xero, giving you the freedom to approve and prepare payments. You can:

Usually, when paying a supplier, there’s manual input of bank details and other information. Libeo automates all of this – ensuring accuracy and saving you precious time.

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XERO INTEGRATION

Libeo connects to your Xero account, and invoices are synced automatically. All supplier information uploaded in Xero will be updated in Libeo so you can make payments quickly and easily.

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Payment approval workflows: a safety net for accountants

With Libeo, accountants can automate payment approval processes for their clients and save time by reducing the number of emails they receive from clients asking for payment authorisations. A payment approval workflow is a set of instructions that define who needs to review a particular invoice before it can be paid by the company or client:

This ensures all invoices are reviewed by the appropriate team members before being approved for payment by the account manager or owner. These workflows can be created in Libeo in order to achieve efficiency and accuracy within your accounting system:

Edit invoice in Xero, approve invoice with Libeo

With Libeo’s automated payment approval process, all approved invoices are sent directly to the bank or Xero, so your clients never need to wait around wondering when they will be paid:

With the two apps integrated, information on Xero automatically syncs with Libeo every hour, so if a payment status is modified on Xero, it is updated on Libeo. Even better, information on Libeo syncs with Xero immediately! You can make payments associated with invoices on Libeo, and Xero will know right away.

How to use Xero with Libeo?

Linking them couldn’t be easier.

From your accountant's access on Xero, log in and follow the instructions. You can always rely on Xero Central for support. Just set up your Libeo account and click on “integrations”. Then, select Xero and the organisation you want to link. Finally, follow the few steps indicated to sync your data. Customise your rules within Libeo to set suppliers paid outside of Libeo and approval parameters. Load up your Libeo Wallet to pay or pay right away via Open Banking.

Why Choose Libeo Over Other Payment Platforms?

By integrating a comprehensive payment experience with advanced workflows, Libeo clearly sets itself apart from the competition.

This enables Libeo’s users, whether business owners or accountants, to not only save more time with automated invoice management, but to reduce direct and indirect costs associated with manual invoice management, ultimately facilitating more efficient, data-driven businesses.

As for regulation and compliance concerns, Libeo is GDPR compliant and a distributor of Modulr FS Limited, authorised and regulated by the Financial Conduct Authority.

All payments are ran through a fraud analysis based on multiple criteria to detect risky / unusual activity : IP addresses (different country or IP address compared to usual, etc.), volumes of payments, previous activity, destination, etc. Sensitive data such as IBAN and Sort codes are encrypted.

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Cheryl Sharp, CEO of Pink Pig Financials, about libeo:

“Now that I can download it from Xero and upload the exact file directly into Libeo, it’s brilliant! I didn’t need to do anything. A lot of time is saved between our payroll and those of our clients.”

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FAQ

How does Xero partner programme work?

The Xero partner programme rewards accountants and bookkeepers using Practice Manager who bring their small business clients onto the Xero platform. The more clients a partner has subscribed to Xero products, the more points they earn in the partner programme.

What is Xero Advisor certification?

Xero Advisor certification is a certification course for all advisors providing services to Xero-based client companies. It allow users to learn and become certified with the software through educational lectures and training sessions.

Is Xero cloud-based accounting?

Yes, Xero is cloud based accounting software.

Where can I find Xero accountants or Xero bookkepers near me?

Looking for Xero accountants or bookkepers? Use the Xero advisor directory listing to find a small business accountant or bookkeeper who use Xero for bookkeepers and accountants.

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