Telleroo has today announced an integration with Xero, the global small business platform to sync payroll payments directly from Xero Payroll into Telleroo. As a result, businesses no longer need to worry about keying in payments or using complex file formats to pay their staff. Plus, Telleroo flags any high-risk changes to bank details, such as updated bank details or change of name.
It’s predicted that 78% of small businesses already solely rely on cloud accounting¹ but still many cannot sync payroll payments to their banks due to the lack of integrations and innovation. With no alternative, it's the business owner who ends up manually keying in each individual payroll payment.
Telleroo's new integration with Xero improves payroll payments, as businesses no longer have 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 automatically.
When the payroll pay run is approved, businesses just need to schedule funds into their Telleroo account for the payments to be instantly released on time. When the scheduled 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 wage 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 Xero payroll sync is available from the 1st February 2022 to all new and existing Telleroo customers.
Xero is a cloud-based accounting software platform for small businesses with over 3 million subscribers globally. Through Xero, small business owners and their advisors have access to real-time financial data any time, anywhere and on any device. Xero offers an ecosystem of over 1,000 third-party apps and 300 plus connections to banks and other financial partners. In 2020 and 2021, Xero was included in the Bloomberg Gender-Equality Index and in 2020, Xero was recognised by IDC MarketScape as a leader in its worldwide SaaS and cloud-enabled small business finance and accounting applications vendor assessment.