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Latest product news — December 2022

Xero

The old template will still be available if you need to catch up on your 2021 filing. The invoice list in the Xero Accounting app (Android only) is being refreshed, making it easier for you to view and find information about your business. New customers default to new invoicing — Global. See how we’re Building on Beautiful.

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Product wrap from Xerocon Sydney 2022

Xero

We shared the first phase of this new feature — employee records — and explained how it will help you identify, audit, and reconcile your clients’ payroll quickly and accurately. . Another compliance update we shared with advisors at Xerocon Sydney was one of our most highly requested features: payroll history.

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The complete guide to invoice reconciliation for your business

Nanonets

One important aspect of financial management is invoice reconciliation. Whether you are a small business or a large enterprise, reconciling invoices is an essential process to ensure accuracy, identify discrepancies, and maintain strong financial controls. What is invoice reconciliation? billion in 2023 to $3.40

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Understanding the Difference: Purchase Order vs Invoice

Nanonets

To effectively manage procurement and financial processes, it is crucial to understand the distinction between a  purchase order  and an  invoice. On the other hand, an  invoice  is sent by the seller to request payment once the order is fulfilled.

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Real-time Payments and FedNow: What You Need to Know 

AvidXchange

McKinsey reports that 82% of Americans conducted a digital payment in 2022 – up from 78% in 2021. Businesses prefer RTPs because they accelerate cash flow and reduce the administrative burden of collecting and reconciling payments. How Do Real-Time Payments Work?

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Understanding the Difference: Quote vs Invoice Explained

Nanonets

Quotes and invoices play crucial roles in business transactions, but it's essential to understand how they differ in terms of purpose and function. On the other hand, an  invoice  is a formal document that is sent to a customer after a sale has been made and the goods or services have been delivered. What is an Invoice?

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How much does it cost to process an invoice?

Nanonets

One significant aspect of accounts payable is the processing of invoices. Traditionally, manual invoice processing has been a time-consuming and resource-intensive task, leading to high costs of processing an invoice. How much does it cost to process an invoice? How long does invoice processing take on average?