Recording and making payments is a chore.
First you need to record the bills. Then you want to make sure you pay on time to avoid any late fees. And if it is an overseas payment, you'd need to do some quick math with currency exchange rates, and transfer charges, and forex gain/loss among other things.
It is a pain. Unless you have the right tools.
Deskera and Wise
Deskera and Wise (formerly TransferWise) make the entire payment cycle a piece of cake.
Now, you can automate the entire process to make payments abroad, from creation of bills via scanning documents, to setting up reminders for timely payments, to sending the actual payment, without having to worry about exchange rates, forex gain/loss and high transaction fees.
Deskera lets you create and manage bills by simply scanning the document with your phone camera, or you can just add one in less than a minute, in any currency. It is easy to track your accounts payable in foreign currencies with Deskera Books.
Wise allows you to make payments against bills and purchase invoices abroad without any hassles, and at 19X cheaper rates. Once the payment is processed, the accounts payable records are updated in Deskera Books automatically, with the appropriate exchange rates and forex gain/loss.
You don't have to spend another minute reconciling forex payments, or figuring out the best transaction fees.
All you need to do is to connect your Deskera account to your Wise account.
Here is a video that explains the process.
Don't have a Deskera account? You can sign up here.
Deskera is an all-in-one cloud-based accounting software that helps the small business run their business efficiently anytime, anywhere, on any device. Deskera is committed to transforming the way small businesses across the globe run their business.
Founded in 2008, Deskera is one of the fastest-growing software as a service company globally, specially designed for small businesses.
You can know more about Deskera here.
Wise was launched in 2011 with the vision of making international money transfers cheap, fair, and simple. Today, Wise multi-currency accounts help over 10 million people and businesses manage their money across the world.
Wise is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money.
You can know more about Wise here.