Overview
bzTrack is a one stop shop that offers free invoicing and cashflow management - from handling customer payments to negotiating supplier discounts.
Carrots not sticks
Most invoicing platforms have tools in place to penalise your customers for paying late. With bzTrack, we've flipped that on its head and offer incentives by way of discounts, on invoices that are paid early.
One of the main complaints that businesses have when it comes to getting paid is having to chase up late payments and might have to resort to threats of fees if an invoice is paid late. With bzTrack, you can set up Invoice Discount Templates easily - offering a fixed % off a discount that's paid within a specific number of days (or even paid on the spot).
By offering your customers a discount on an invoice amount if they pay you early is a win-win for both parties, PLUS it can encourage future trading between businesses. You can also avoid hours of chasing via email or phone.
Xero compatible
bzTrack works alongside Xero, synching all your bills and invoices in real-time.
Great if you have a team who are out on jobs - be that a sales/ops/trade team. They can invoice on the go, and know that the invoice will automatically be uploaded in Xero for their bookkeeper or accountant to reconcile - leaving them free to move onto their next job.
Multiple accounts? Not a problem – Plus, save time paying bills!
If you’re a larger organisation using several business bank accounts, you can also use bzTrack and know that the platform supports multi-banks. You can pay bills from one account, receive funds into another account - plus when you’re logged into bzTrack, you don’t have to keep opening tabs to log into multiple bank accounts as they’re securely connected once you’re in, saving you hours each month for running your business.
Track where your money is
Keep track of all your transactions from your Dashboard and schedule payments accordingly. You can quickly see what money is coming in each month and what bills need to be paid (and when). Reminders can be automated to reduce the number of hours you might end up spending chasing payments at the end of the month!
Peace of mind
bzTrack also provides peace of mind when it comes to knowing who you’re trading with. ABN verification ensures you’re dealing with a fully registered business, and credit checking tools mean you can run a quick (or thorough) report on a business that you might be starting to work with and set your payment terms accordingly. Our partner CreditorWatch provides credit reports and having them easy to access from the platform means you can stay informed from one centralised place.
Here to help
The bzTrack team is based in Adelaide and on hand to answer any questions. We offer live chat (with a real person) from 8am-8pm. We’re passionate about helping small businesses across Australia get paid easily.
bzTrack + Xero
bzTrack integrates seamlessly with Xero with a couple of clicks from the bzTrack Dashboard to prevent double-entry and reduce your admin.
If you’re a business with a sales or ops team who are invoicing on-the-go, they can invoice directly from their phone to the customer who can pay them on the spot. Those invoices will then automatically appear in your Xero account ready to be reconciled by the finance team- leaving sales and ops free to move on to the next job!
bzTrack’s Xero reconciliation feature, means that you can match bank accounts and cards you have in Xero with bank accounts and cards you have in bzTrack. You will just need to select a default account for any transaction fees.
If you match your accounts, bzTrack can generate bills for bzTrack fees, and credit notes for discounts in Xero automatically that will be batched together with your invoice or bill so you can reconcile each line with just one click.
This feature also means that when you pay a bill in bzTrack, it will sync this status with Xero so your accounts team know the payment has been completed!
Getting started
Connecting with Xero from your bzTrack dashboard:
- Select ‘Connecting To’ in the main menu. Click on the blue ‘Connect to Xero’ button at the top of the page.
- Sign in to your Xero account and select the organisation you wish to link.
- Choose which Xero ledgers will be used for line items created in bzTrack bills and invoices, and ‘confirm sync’.
- The initial sync will begin – feel free to continue working while this is completed.
What Happens Next?
Data will continue to flow between bzTrack and Xero with new entries on either side syncing within a few seconds. This will continue until disconnection.
