5 ways ASB & Xero make financial management simpler

28 April 2015 / Published in Business

Here at ASB we’re focused on working smarter and we’re sure you’re the same with your business. So that’s what our partnership with Xero is all about – quicker, smarter and simpler ways to manage your finances.

There’s no time like the present to look at your accounting and financial management processes and learn how Xero and ASB can help. Think of this as your complete guide to what Xero is and how integrating it with ASB can help you.

About Xero & ASB

Xero is online accounting software that allows you to access your accounts from your Mac, PC, tablet or smartphone. It’s easy to use, reduces manual data entry and connects to your bank account, showing a real-time view of your cashflow. ASB is more integrated with Xero than any other bank with a full suite of features that includes transaction feeds and direct payment link.

Xero can be integrated with both FastNet Business and FastNet Classic.

1. Direct Payment Link

Direct Payment Link
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Direct payment link allows you to set up payments in Xero and then approve them in FastNet Business. As you’ll already be using Xero for invoicing and reporting this makes things easier for you as you can manage nearly all your finances on the one platform. Watch the video above to see how to set up and use Direct Payment Link.

Available in: FastNet Business

2. Approve payments on ASB Mobile

As with FastNet Business you can approve payments, which were set up in Xero, on ASB Mobile Business.

Available in: ASB Mobile Business

3. Transaction feeds are updated everyday

One of the main features of the ASB and Xero integration is that you can set up transaction feeds online so that ASB can send your transactions to Xero. ASB is one of only a few banks that includes all account types: standard transaction accounts, term loans, credit cards, term deposits and foreign currency accounts.  

Available in: FastNet Business & FastNet Classic

4. Quicker process with online feed set up

Xero Transaction Feed
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Setting up your transaction feeds is easier and quicker online than via a paper form. Paper forms can take up to two weeks to be processed whereas online set up is activated immediately and you will start to see your transactions reported the next day. Watch the video above to see how to set up your transaction feeds online.

Available in: FastNet Business & FastNet Classic

5. Feeds are backdated for up to 12 months

When you set up your transaction feeds you have the option to backdate the feeds for up to 12 months. This allows you to review your financial management solutions at any point during the year without making things difficult for you and your accountant at the end of financial year. With ASB, this service is free whereas with other banks you could pay up to $10 per historic feed.

Available in: FastNet Business & FastNet Classic

To find out more about Xero and ASB, call 0800 272 222 or click here.


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