Despite 78% of small businesses using cloud accounting, many still cannot sync payroll payments to their banks due to the lack of integrations and innovation. With no alternative, it’s often the business owner who ends up manually keying in each individual payroll payment, time that could be much better spent elsewhere.
A breakthrough for Xero Payroll
Telleroo’s new world-first integration with Xero speeds up payroll payments, meaning businesses no longer need to key in each employee’s salary payment. Instead, in one click, payroll payments are created in Telleroo for approval. Telleroo clearly shows if any employee bank details have changed since they were last paid. With deep links, the business can switch between Telleroo and Xero Payroll in seconds. Telleroo picks up the payment date of the pay run, scheduling the payments to automatically go out at midnight that day.
When the pay run is approved, businesses just need to fund their Telleroo account for the payments to be released at the scheduled time. When the payroll date is reached, and funds are available, Telleroo passes all payments onto the faster payment network. Funds are usually available almost immediately in the recipient’s bank account. Sometimes Faster Payments can take up to two hours to arrive, but this is uncommon.
Telleroo updates Xero bank feeds with the payroll total, keeping private each individual employee salary. This batch total can then be reconciled in one click against the wages payable account.
“This integration between Telleroo and Xero Payroll sync is a breakthrough alongside our own Xero bill sync,” said Andrew Cookson CEO of Telleroo. “Xero Payroll sync automates even more, so accountants and finance teams can focus on productive tasks.”
Telleroo’s Xero Payroll sync is available to all new and existing customers.
Telleroo will be exhibiting at Accountex Summit Manchester the 12 October 2022 at Manchester Central at stand C16. You can register for a free ticket here.