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Tired of Playing Ping-Pong with ABA Files and Reconciliation?

Parakeet

Updated: Dec 6, 2024

01 August 2023


After meeting hundreds of Xero businesses, we’ve identified a common challenge—the frustrating game of reconciliation ping-pong.


ABA and BPAY for Xero

Does your accounts team feel stuck in a frustrating game of reconciliation ping-pong?


Here's how it typically plays out:


  1. Bills are loaded into Xero, approved, and marked as paid.

  2. An ABA file is emailed to an approver or uploaded to internet banking.

  3. A few days later, reconciliation reveals the payment wasn’t processed.

  4. After digging, you find the ABA file wasn’t approved, paid in full, or had expired.


The result?


Bills are reopened, new ABA files are generated, re-uploaded, and the team spends valuable time chasing approvals.



 

Automate with Parakeet:


Parakeet eliminates ABA files, automates BPAY and EFT payments directly in Xero, and simplifies reconciliation to 1-click.


How It Works:

  • Approve bills in Xero or Parakeet.

  • Transfer the total payment amount to a trust account.

  • Parakeet automates bill marking as 'Paid', send remittance notices, pass reconciliation entries, and enable bank statement matching—all in one click.


Why Your Team Will Love It:

  • Accounts Team: No follow-ups or rework.

  • Approvers: Approve once—no internet banking logins needed.

  • Efficiency: Every bill paid on time, fully reconciled.


 

What Users Say


Exactly what we have been looking for

“Really happy with the product and has made paying bills so much more easier. ” - Finance Manager


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Payments made easy - A must have for Xero customers

"I am new Xero customer. Parakeet is an essential part of my accounting solution. BPAY transactions account for 50% of my suppliers and hence it was essential they could be processed along with the standard EFT payments. Parakeet not only gave me BPAY automation but provided the ability for me to process multi bank account payments within the same database. Implementation was simple, backed up with prompt and experienced support. " - Owner



 

Learn More


See how it works and discuss with us first or learn more about it here.


Arrange for a 20 min call / demo here or contact us here.


 

About Parakeet:


Parakeet is a certified financial services app in the Xero app store that automates bill payments (BPAY & EFT) out of Xero and removes the need for manual uploading of ABA files or BPAY batch files into internet banking.


See Parakeet's Xero App Store listing here.


Learn about Parakeet's automated Bills payment automation (AP) here

 

For more information, contact: media@helloparakeet.com


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