For finance teams, the month-end close is a busy time. That’s when finance admins and accountants collect, review, and reconcile their records in order to close the books at the end of the month.
If you use different software systems for payroll and accounting, this might mean having to manually download each invoice and then enter row after row of information to create a bill in your ERP software. Multiply that by the number of employees, and you can imagine how tedious and time-consuming this process can be. Even worse, transferring data manually also introduces the possibility of errors.
What if your payroll and accounting systems could simply be connected, so the data gets transferred automatically with just a click?
Thanks to Oyster’s new integrations with NetSuite and Xero, you can do just that! When you approve an invoice in Oyster, it’ll just appear automatically in your NetSuite or Xero account. Automating the process frees up your finance team, saving time and effort, as well as ensuring 100% accuracy.
Seamless invoice syncing for accurate payroll accounting
Payroll is the largest expense for most businesses, accounting for about 70% of total business costs. That’s why it’s crucial that payroll data be recorded accurately, without any room for error. And yet, the process is often manual, time-consuming, and error-prone.
With Oyster’s ERP integrations, the process becomes completely automated. Every time an invoice is approved, Oyster will push the bill to your NetSuite or Xero account. In other words, the invoice data will sync automatically with your connected ERP account, across multiple countries and currencies. You can also choose how you want the invoice items to sync, such as by mapping payroll components or costs to different accounts.
By syncing critical data across your HR tech systems, you can ensure smoother payroll processing so your Team Members around the world get paid accurately and on time. Best of all, your finance team will appreciate being freed from manual data entry—they’ll be able to save time and get through their workflow more efficiently.
Taking the stress out of global payroll
Oyster’s global employment platform makes it easy to hire, reward, and retain the best talent from around the world. Connecting Oyster to your NetSuite or Xero account will simplify payroll and accounting at the end of the month, so you can close the books more easily and your team can get paid on time without a hitch.
Oyster is a global employment platform designed to enable visionary HR leaders to find, engage, pay, manage, develop, and take care of a thriving global workforce. It lets growing companies give valued international team members the experience they deserve, without the usual headaches and expense.
Oyster enables hiring anywhere in the world with reliable, compliant payroll, and great local benefits and perks.