Simplifying your accounting has never been easier for SMEs in Malaysia. With the linking of RHB Bank to Xero, a cloud accounting software, you can manage your cash flow, invoicing, expenses, and payroll tasks in a single location within your Xero account. There’s no keying in, no risk of human error, and most importantly, no time wastage, so that you can focus on business development.
Benefits of RHB Bank with Xero integration for Small Business:
Automatic Bank Feeds
Sync your RHB Reflex Account, Commercial Credit Card, multi-currency account, and loan transactions in one convenient place. Transactions are brought in on a 24-hour basis, with real-time data to ensure your funding remains updated without the necessity of manual data entry.
Effective Cash Flow Management
Access your cash flow anywhere with the Xero mobile app. Just deal with bills, transactions, and statements for seamless business fund flow.
Refer to this blog-> 7 Powerful Xero’s Mobile App features for On-the-Go Accounting
Easy Reconciliation
Keep bank reconciliation processes easy with the ability to connect your RHB accounts with Xero directly. This reduces config errors and simplifies your accounting.
Check on the blog -> Mastering Bank Reconciliation With Malaysian Banks
Improved Customer Relationship Management
Track payments, invoices, and customer expenses better. Keep your records in tip-top shape and readily accessible to your accountants and financial planners, including your employee team.
Who can use it?
- This interface is appropriate for RHB Reflex Premium Plus and Xero users.
- First-time user for RHB Reflex Premium Plus? You may indicate your interest through the portal of the website owner.
- First-time user for Xero? Register now and discover how our guides can assist you in preparing your account for smooth integration.
If you’d prefer to save time on that, Caltrix Asia is the perfect partner for you. Anyone is invited to a complimentary one-on-one 30-minute clarity call. Caltrix Asia can provide valuable advice on optimizing your financial processes, having your systems work harmoniously with one another, and maximizing your use of these platforms for maximum efficiency.
Step-by-Step Guides for small businesses to connect RHB Bank with Xero Integration
Step 1:
Log into your Xero account, click the Accounting tab, click Bank accounts, and click Add bank account. This is where the setup often fails, so please note the following instructions.
Step 2:
Click Filter by Country to Malaysia, type in RHB, and then click Continue. You will be requested to log in to your RHB account. Ensure that your server connection is good so that you will not experience issues because of too much traffic or connection issues.
Step 3:
You will be prompted to RHB’s site. The approved user or owner (Authoriser/Customer) needs to log in to Reflex. If a request is rejected or an error for a request ID occurs, please check your login details or seek assistance.
Step 4:
Once logged in to Reflex, confirm your Secret Word and enter your Token Passcode. This securely positions your account information in position for integration.
Step 5:
Connect RHB Reflex to your Xero. The process has to be accepted by the owner or authorized user, and will automatically refresh your bank transaction in the connection.
Step 6:
Lastly, the bank account will be connected by Xero to the bank feed. You will be redirected to Xero, after which you will then choose the organizations you would prefer the RHB account to be linked with. Be sure to select the appropriate records to avoid errors and mismatches in data.
Step 7:
Choose your chosen RHB Reflex account(s) and then select Link. Verify the accounts carefully before you go ahead. Review the Account Listing Maintenance table, then click continue to proceed. You need to do this so that bills, expenses, and invoices are properly recorded.
Step 8:
When installed, you’ll be able to see a notification that your bank feed is live. The related accounts will then show up in Account Listing Maintenance, and your accounting processes, like invoicing, payroll procedures, and expenses, are automatic and easy, helping you provide content that is efficient and reliable.
In Conclusion
Linking RHB Bank to Xero, a cloud accounting system, offers a comprehensive solution for Malaysian business owners and SMEs wanting to experience hassle-free finance management. The integration closes the necessity for manual inputs, stops mistakes, and improves funds flow management, billing, and employees’ payroll processes, everything inside the protection of a cloud solution.
Whether you’re new to Xero or already operating it smoothly, the instructions below ensure a simple installation so that you can think less about installation and more about growing your business with satisfaction and confidence, ultimately leading to increased profit.
About Xero
Xero is a global small business platform with 4.4 million subscribers. Xero’s smart tools help small businesses and their advisors to control core accounting functions like tax and bank reconciliation, and complete other important small business tasks like payroll and payments. Xero’s extensive ecosystem of connected apps and connections to banks and other financial institutions provides a range of solutions from within Xero’s open platform to help small businesses run their business and control their finances more efficiently.
