If you have a Business PayPal account, you can set up an automatic bank feed in Xero.

If you have a Business PayPal account, you can set up an automatic bank feed in Xero. New transactions are imported every 24 hours. If you use multiple currencies in PayPal, then you can import each currency separately using Xero’s multi-currency capability, powered by XE.com.

PayPal bank feeds are far superior than importing your PayPal statements manually. As you may have experienced, PayPal statements have the tendancy of having line items in there that do not actually affect your balance. When you import this into Xero it can become difficult to reconcile the bank. To keep your accounts clean, Xero will only import transactions that change your PayPal balance – so you don’t need to deal with credit card purchases on your PayPal account or with currency conversions.

PayPal payments made easier with Xero

One of Cloud Accountant’s software partners has announced some very interesting product updates, including one that will make B2B payments even easier using PayPal.
Speaking at Xerocon in San Francisco last week, Xero’s chief executive welcomed guests in a space-aged auditorium to explain that it had been another fantastic year for the company. He told the crowd of accountants and other users that $1 trillion worth of transactions had now been performed using Xero, and that the company had grown to become the most well used accounting system in the UK.

Editor | 23 September 2016
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The Xero add-on market has hundreds of add-ons you can use to make life easier. It has recently had some new entries meaning even more choice. Get in touch with your accountant to find out which add-ons may work for your business.

Xero now works even smoother with PayPal. The integration has recently been updated which means not only can you enable a feed with your PayPal accounts, you can start accepting payments online though your Xero invoices. You will be able to get money faster and more efficiently. Another bonus is that when it comes to reconcile your account, it will be as simple as a click of a button as your invoices will have already been paid through Xero and the amount will automatically match with the amount received in your bank.

Xero Add ons

All add-ons listed below are cloud applications that integrate fully with Xero cloud accounting software meaning they post relevant transactions and have two way communication between the applications.