Airwallex teams up with QuickBooks for smoother business accounting.

TLDR:

• Airwallex has integrated QuickBooks Online to streamline business accounting
• This integration eliminates the need for manual data entry and speeds up reconciliation processes

Key Elements:

Airwallex, a global payments and financial platform, has partnered with Intuit QuickBooks to streamline business accounting. This integration allows users to automatically import transaction data, removing the need for manual data entry. It enables users to sync card, foreign exchange, payment, and transfer transactions across various currency balances. The OAuth connection service enhances security during the automated transaction syncing process between QuickBooks and Airwallex, reducing potential errors and improving financial management efficiency.

Ravi Adusumilli, the Executive General Manager for the Americas at Airwallex, highlighted the significance of this integration in simplifying accounting processes for globally scaling businesses. With the integration, Airwallex customers can sync various transactions using QuickBooks’ Multicurrency feature, complementing the existing QuickBooks integration for Airwallex’s Bill Pay and Expense Management products. The partnership also extends to other accounting software platforms like Xero, Netsuite, and Sage.

In addition to this partnership, Airwallex launched virtual Visa cards in Canada to assist businesses in managing payments. These virtual cards, known as Airwallex Borderless Card, enable businesses to fund transactions in multiple currencies, eliminating unnecessary foreign exchange conversion fees. The cards are integrated with Airwallex’s Expense Management offering, simplifying expense reporting processes and approvals.