I was reading about some of the accounting features that Xero are building on in their software while also testing out Commonwealth Banks “Upcoming bills and payments”. What really struck me is how quickly the major banks are updating their software and systems to help small business owners manage their cashflow better.
When you use the Commbank App to access your account you can quickly setup the Upcoming bills and payments because the banks software sees that you have recurring payments that seem to happen every month, quarter, year etc. The great thing about this is that it helps you understand your liabilities in the short term and you don’t need to pay anything extra to have it or use it.
Xero on the other hand are constantly finding ways to increase their revenue and new features is naturally one BIG way they can do that. But it’s not all bad, of course.
Continue reading Bills to Pay, Past or Future, Xero or CBA