Settlement & Status Updates
This document outlines the process of fund settlements and real-time status updates to your Xero account when using Hello Clever.
Fund Settlements
Funds accumulated throughout the day will be transferred to your nominated settlement bank account the following day at 11 PM AEST or 12 midnight AEDT. This ensures that your funds are settled promptly and securely.
Updates on Your Xero Account
Hello Clever provides seamless updates to your Xero account in real-time, ensuring that your financial records are accurate and up-to-date.
The following operations are performed automatically on your Xero account:
Payments to Invoices
When payments are made to invoices, the following actions occur in real-time:
- The invoice paid status is updated.
- A debit is posted to the fees account.
- A credit is posted to the Hello Clever Account.
Transfers to Your Settlement Account
When funds are transferred to your nominated settlement account, the following actions take place:
- A credit is posted to your nominated settlement account.
- A debit is posted to your Hello Clever Account.
By automating these updates, Hello Clever ensures your Xero account remains accurate without requiring manual intervention, saving you time and effort.