Xero and Stripe are companies that offer cloud based accounting and bookkeeping software that is used by businesses of all size, all over the world. They are both useful for specific tasks and well-loved by those that utilize them. The problem has been their inability to work accurately together. Anyone left attempting to reconcile accounts at the end of the month or fiscal year can understand the frustration this can cause. Luckily, a solution has been created that can eliminate these issues and make reconciliation much simpler.
Silver Siphon is an integration service that makes life easier for every bookkeeper and small business owner. All users need to do it enter a transaction in Stripe as they always have. The new program will turn this transaction into an easier to understand form for Xero to use. The transactions take approximately 20 minutes or less to synchronize. All information is gathered daily and a single report will be created in the form of a bank statement specifically for that day.
The program is designed to work on transactions added from the day it is put into use. Older transactions may be able to be synchronized, but it may require special assistance and additional fees to accomplish. It can track transactions in any currency, but since Xero accounts are only able to accept one type of currency per account, the currency used in that account must be the one chosen.
The fee for the service is based on the amount of transactions that must be processed each month. There are three levels of accounts and upgrading is easy. Companies that underestimate their number of entries or suddenly become busier can easily change their level and avoid any complications or delays.
Integration services and programs are nothing new, but one that is able to do so without error is unusual. No one wants to pay for a service to make reconciliation faster and more accurate only to have to chase down new errors in that service. Take the time to learn more about how easy it can be to have genuine, mistake-free reports at the end of every business day.