RAVE's New FMS Feature - Xero Payment Syncing

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RAVE's New FMS Feature - Xero Payment Syncing

INTERESTING ARCHITECTURE TRENDS

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WHY ARE THESE TRENDS COMING BACK AGAIN?

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WHAT TRENDS DO WE EXPECT TO START GROWING IN THE COMING FUTURE?

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WHY IS IMPORTANT TO STAY UP TO DATE WITH THE ARCHITECTURE TRENDS?

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WHAT IS YOUR NEW FAVORITE ARCHITECTURE TREND?

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Welcome to RAVE’s first ‘NEW feature’ blog for 2023!

We're kick-starting the year with a BIG update for those using RAVE’s Financial Management System (FMS) - that is RAVE’s new Xero Payment Syncing function. 

While that sounds great, you may be wondering how RAVE's Xero Payment Syncing will save the accounts team time and double handling - so...

  • If an item change occurs (a change in description, price, quantity, cost center (chart of account code), billed date, due date, etc) - this will also be reflected in RAVE.
  • If a new line is added to a bill/invoice/credit note in Xero - it will be added in RAVE
  • If a partial payment is made in Xero, RAVE will show the bill/invoice/credit note as partially paid, with the amount paid displayed in the paid box.
  • If an overpayment is made in Xero, RAVE will show the bill/invoice/credit note as fully paid, and the overpayment will sit in Xero until it is allocated to the next bill/invoice/credit note. 
  • If a bill/invoice/credit note is reconciled in Xero and then removed, RAVE will also remove the payment in RAVE. 

Furthermore, all actions are recorded in the project's audit trail, with an explanation of what was done in Xero, and sent back to RAVE.

RAVE's new Xero Payment Syncing feature is available from the evening of Wednesday 18th January, for everyone with RAVE's FMS module + a connection to Xero! For a step-by-step guide on activating this feature, a full list of special cases, and some scenario examples (how partial payments and overpayments etc are managed) please refer to RAVE Help's 'Xero Payment Syncing' FAQ.

If you are not yet using RAVE’s Financial Management System and would like to add it on – or to have a chat with us about how our FMS can help you save time and money in managing the financial side of your business – please reach out to us on phone 07 210 2228 or help@ravebuild.co.nz.

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