“Xero , the global small business platform, today announced a significant milestone in its AI strategy with the roll-out of new bank reconciliation predictions. The predictions feature brings a new application of AI into the Xero platform, reducing manual data entry and saving businesses time. The new feature uses machine learning to predict the contact and account code for transactions that cannot be matched to invoices or bills using an organisation’s bank rules, Xero’s matching logic, or memorisations. Previously, businesses had to manually enter new contacts or account codes to reconcile these transactions — a time-consuming process that risks manual error.”

“Online payments powerhouse Stripe Inc. Tuesday introduced Stripe Revenue Recognition, an application intended to automate the mapping of money to a balance sheet.  The development of Revenue Recognition was spurred by the accounting needs of merchants and businesses that are paid upfront for goods and services to be delivered in the future or over an extended period of time. These include software-as-a-service providers, SaaS, subscription, and e-commerce companies, all of which need to consolidate transactions in one place, appropriately categorize transactions, and automatically generate auditable reports.”

“With Zoho’s platform, Mastercard is able to offer its small business customers access to a suite of marketing, accounting and CRM tools to automate and digitize time-intensive, paper-based processes. Scaling its existing partnership from India to the rest of the world, Mastercard and Zoho are enabling simpler business operations for SMBs globally.”

“The global partnership, announced at Xerocon San Diego 2019, will enable new payments experiences that are more seamless and efficient for small business owners and their advisors around the world. Xero and Stripe are building new tools to invoice customers more efficiently, bring additional insights on their business performance and get paid, no matter how or where they do business.”

“Doxo, a mobile and online bill payment service, has announced an integration with data network provider Plaid that will allow customers to see their bank balances in real time, helping to reduce overdraft charges.”

“Tipalti, the leading global payables automation platform, announced today that its supplier payments automation solution has integrated with Intuit QuickBooks Online, and is now available through the QuickBooks App Store. Tipalti is the only cloud-based global payables solution that enables businesses to automate their entire global accounts payable workflow, making it easy to execute multi-method bill payments across 190 countries and 120 currencies, while providing real-time payment status and reports that streamline reconciliation directly within QuickBooks Online.”

“Fattmerchant, an integrated payment solution with omni-channel technology and a subscription-based model, today announces a payment industry first by allowing its customers to easily integrate their unified merchant account with their QuickBooks Online account, allowing data to flow seamlessly and securely back and forth from each platform.”

“When merchants connect their PaySimple and QuickBooks Online accounts, PaySimple payment data will automatically sync in QuickBooks Online in real-time. The integration runs in the background, requiring very little management from merchants and ensuring accurate accounting and tax reporting, a necessity for busy small business owners.”