If you are a Xero user and you finance an invoice through Satago, you can take advantage of our enhanced integration to post the accounting information directly to your Xero account, and cut down on admin.
There is no obligation to use this feature (you can continue to account for Satago Invoice Finance manually), but it will reduce your admin time.
When we make the initial advance, we will set up the Satago liability and the bank transaction for you to easily match in Xero.
When the invoice is paid by the customer, we will mark the invoice as paid (yes, we do the reconciliation for you!), remove the Satago liability, recognise the fees and create the bank transaction for you to match.
When you enable the enhanced Xero integration you need to select:
Bank account: where you receive payments from Satago
Liability account: where you record how much finance you have received from Satago
Expense account: where you record our fees