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Capture your discounts.
Save on every bill.

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Never miss an early payment discount from your vendors.
 

Automate your bill payments out of Xero and take advantage of existing discounts arrangements by paying early or on time.  

Once you configure the discounts, we calculate the savings,  pay the bill (net of discount) and reconcile net payment automatically back into Xero. 

Bank your savings and don't miss out on early payment discounts. 

Helping Australia's business community

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Shelly Wong

Save more by automating your early payment discounts

Collect the discounts offered on your bills.

Xero Early Payment Discounts

Straight out of Xero​, no effort required

Our integration with Xero means we take your approved bills from Xero and automatically apply the discounts your vendors have offered you. 

Configure existing discounts

We customise your vendor settings so it'll reflect your current arrangements. 

New discount arrangements

No problems.  Let us know what new arrangements has been agreed to and we will configure your vendor settings.   

Different discounts offered by each vendor? No problems.

Set up discounts by vendors 

Different discount rate for each vendor

We can set up a static discount rate (e.g. 7.5%/Net 20, etc) or dynamic discount rate based on the agreement with your vendors. 

Don't miss a discount with auto approval

Once you approve a bill, the early payment discount is calculated and paid without you taking any further action. 

Xero Early Payment Discounts

Discount or no discount, we take care of the bill payment

We make sure the bill is paid

Xero Early Payment Discounts
Xero Early Payment Discounts

All bills paid at the right time

We will automatically pay your bills for you so you don't need to worry about missing a discount or being late paying a bill.   

Learn more about auto pay here.

 

Customise how you pay

Load the bank accounts and/or cards you like to use.  

Drag & Drop to prioritise them in the order you like and we will match your preferred payment method with your vendor's. 

What to use it as a budget tool?  Set the limit and a 'reset' date and the system will make sure you stay within your budget. 

 

Save time and money

This is the easiest way to save money through discounts and save time with our auto pay & reconciliation. 

 

Which brings us to reconciliation...

We sort out the book keeping entries for you

Automated bookkeeping for discount entries

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Every bill paid early is individually marked as paid in Xero and closed out correctly to save you time and effort.

Xero Discounts Reconciliation
Xero Discounts Reconciliation
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We automatically create a 'Receive money' transaction in Xero, to record the discount against an interim clearing account (we establish for you) and book it under your new Discounts revenue (we establish it as default or you can customise where you like to book the discount).

Xero Discounts Reconciliation
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Finally, we 'net' the amount you paid into a 'Final Clearing' account (we establish for you)  so when you download and reconcile your bank statement, you will see the net amount, ready for you to 'match' off. 

 

In this example,  you paid 8 bills totalling $6,670.00 and you received $482.50 discount for paying early. This means the net payment was $6,187.50. 

Now instead of your allocating the $6,187.50 entry to the 8 bills and accounting for the discount manually, you simply have to do a "1 - click transfer" to your 'Parakeet AP Clearing (Final)' account.   

Reconciliation done.

Xero Discounts Reconciliation
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"Fantastic software! ...this software is a one of it’s kind and saving my time and money!."

Timberly Williams

Discounts and bills automation

Reduce bills administration.
Save with discounts.

POPULAR

Successful
Discount

For All Plans 
20% of the discount savings

For example
Original bill: $250
Discount: $20
Net Payment: $230

Discount Fee
20% x $20 = $4 

This fee is in charged in addition to the monthly membership plans you selected.  

Discount fee is only charged if discounts are taken.

Scale-Up Plan
$400 per month

Includes
3,000 Bills / invoices per year

After 3,000th Bill / Invoice
$1.75 per bill / invoice

Inclusions resets every 12 months



 

Monthly Memberships Plans

Start with 14 days free trial
Then select one of the plans below

Growth Plan 

$200 per month
1,200 bills/invoices per year
$1.90 per bill/invoice thereafter

Scale-Up Plan 

$400 per month
3,000 bills/invoices per year
$1.75 per bill/invoice thereafter


Established Plan
$750 per month
6,000 bills/invoices per year
$1.65 per bill/invoice thereafter


Large Plan
$1,300 per month
12,000 bills/invoices per year
$1.45 per bill/invoice thereafter

Enterprise Plan
Price on application

>12,000 bills / invoices per year
Enquire for Custom Pricing

 

All membership packages include:  

14 days free trial

Integration & on-boarding:

Bills module:

(Watch the bills module demo here)

Optional extras (for all memberships)

BPAY requiring OCR:

Price on Application

Discounts brokered via Parakeet:

20% of the savings (e.g. if you save $10 by paying early, the fee is $2).

Card related charges (for all memberships)

Card payments:

0.25% per bill or invoice processed via Cards (exclude surcharges)

Surcharges: 

Where the vendor is the merchant: 

As passed on by vendor.  ​

Parakeet Merchant (to pay BPay bills):

1.50%

Other charges (for all memberships)

Payment dishonours, cancellations & returns:

$25 per transaction

All fees quotes excludes GST. 

Frequently asked questions

1. Can you help me set it up?

Yes, in fact that is our preference. 

We will help you set up existing discount arrangements as well as new arrangements.  

2. Do you cater for flat rate discount?

Yes, we do and we will customise this for you on a per vendor basis.

We call this static discount where you get a flat discount for paying by day xx (e.g. 5% if paid by day 20).

We also offer dynamic discounting which means the savings is the highest the earlier the payment is made.   

We will help you customise these settings so it's easy and fast to start saving.

3. What are your fees?

There are 2 part to our fees.

1st part is the monthly membership fee, which gives you access to our bills automation payment, reconciliation as well as the discounting features. 

2nd part is the discount fee, which is only payable if we successfully capture an early payment discount savings/payment for you.   No discount, no fee. 

4. What information do you provide after a discount is taken?

For you, the Payer, we send you a breakdown of the bills that was paid, including the discounts taken for each bill. ​ This is automatically recorded back into Xero as discount revenue and reconciled.  

For your vendors, they also receive a remittance advice showing the discounts taken for that particular invoice. 

If you like to see a sample, please contact us. 

5. Does Parakeet make the payment?

Yes.   We automatically take the payment (net of discount) from the accounts you set up with us. 

Ready to start saving?

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