Accounting software to help small businesses with finance
Barclays has teamed up with online accounting software company Xero to help small businesses in the UK to manage their finances.
The service will enable Barclays customers to use Xero’s direct feeds technology to access their transaction data.
Xero provides financial information through its live data feed and helps businesses to manage their finances whilst on the move using cloud accounting apps.
The partnership will allow small businesses to automatically import and categorise bank statements across their everyday accounts.
Barclays is the eighth bank to team up with Xero, as the company has already reached agreements with a number of other UK banks to provide direct bank feed services for customers.
Xero UK Co-Founder and Managing Director Gary Turner said: “Recent research found that businesses who actively manage their finances on a daily basis enjoy much greater prosperity and survivability.
“This new technical partnership between Xero and Barclays makes this a reality for many more businesses which is good news for them and for the vital contribution small businesses make to the economy as a whole.”