We've hatched the batch!
August 28 2023
Paying bills through bzTrack is already incredibly fast and easy, but we’ve just taken things up another gear!
You can now make batch payments in bzTrack at record speed, saving transaction costs, reconciling a stack of bills with a few clicks, and you can do all this without direct bank access!
Earlier this year we filmed a webinar showing that bills can be paid in bzTrack in 1/3 the time they are with the traditional method - using Xero and internet banking. That’s already a huge time saving, but with the release of our Batch Payments feature, you’ll be able process multiple transactions simultaneously.
Simply put, this will see bzTrack trigger a single withdrawal and then as many deposits as is required (one per recipient) to complete the batch, reducing the number of transactions overall by nearly half. The result is that transaction costs go down by nearly half, as well!
If you’re connected with Xero, you might be thinking ‘yes, but how will this reconcile’? Well, no matter how many bills you’ve paid in the batch, these transactions will sit in xero reconciliation batched as a single total matching the single withdrawal transaction in your bank feed. It’ll be lit-up green and you’ll reconcile all the component transactions in one click!
In-line with our ethos that fewer and simpler processes save time and reduce room for errors to creep in, batch payments are another way to greatly reduce the overall work that needs to be done to keep your accounts up to date. Fewer overall manual entries mean fewer opportunities for a mistake to happen, and that means fewer messes to clean up.
Batch payments with bzTrack don’t use old fashioned ABA files and can be completed without direct access to internet banking. Once the payment account has been added to your organisation, team members can set up and pay batches without bank logins, dongles, Xero access and all the rest. Of course, combined with our user roles and dual authorisation features, you have total control over who can access the money and how, and if you want another high-level user to check and authorise these payments before they go out, we’ve got you covered.
Get started with batch payments or move your batch payments from the ‘traditional method’ (yawn!) to the faster and safer method with bzTrack!
Take your invoicing to the next level. Join bzTrack.com today and revolutionise the way you manage invoices!
Click here and learn how Batch Payment works.