We’re excited to announce that businesses in the Lumanu network - from creators and models to freelancers and agencies - can now link their Lumanu wallet as a bank account in Xero. If you aren’t familiar with Xero, it is a leading cloud-based accounting software designed for businesses to manage their financial activities. Xero helps businesses send invoices, automate bank reconciliations, track expenses, manage payroll and much more. 

Our goal at Lumanu is to make it easier for businesses to work together in the Independent Economy, and that starts with making it easier for solopreneurs and small business owners to get paid and reconcile their finances. Our new integration with Xero allows just that. Transactions will now show up instantly in your Xero account whenever you get paid by any business in the Lumanu network. 

It’s just another reason why all teams that touch Lumanu - from marketing & finance to the freelancers & partners getting paid - trust and love Lumanu.  

Enabling the Integration 

Now let’s talk a bit more about the specifics of our integration with Xero. To leverage the integration, you must be a solopreneur or business owner that gets paid from the Lumanu network and use Xero to manage your accounting for your business. If this is true, you can connect your Xero account directly with Lumanu from right within the Xero platform in a matter of minutes. 

To do so, just click “connect bank account” and follow the steps outlined. 

After verifying your phone number via text code, you’re done! 

The Benefits of the Integration 

If you are a solopreneur or business owner that is getting paid from the Lumanu network and use Xero to run the accounting for your business, every transaction that comes to your Lumau wallet will be automatically synced to your Xero account. You don’t need to wait hours or days for the transaction to appear, it will appear in real time. 

The benefits of this are as follows:

• Time Saved with Automatic Reconciliation: Forget about needing to manually go through and record every transaction from your Lumanu wallet in Xero, this will be automatically done - saving you valuable time and eliminating any potential manual errors that may occur.

• Simplifies Tax Season: Instead of scrambling around every April to pull together all of your relevant tax forms, when you connect your Lumanu wallet with Xero, all of your information will be updated and ready to make your tax season as stress-free as possible. 

• Centralization of Payment Data: The integration provides businesses with greater visibility into their finances and planning. By centralizing financial data in Xero, freelancers and creators can easily track expenses, monitor cash flow, and analyze the impact of influencer campaigns on their bottom line.

If you are a Xero customer that gets paid from the Lumanu network, integrate your Lumanu account with it today to start making it even easier to manage your Lumanu-network payments. 

If you aren’t yet a Lumanu customer and want to learn more about how we eliminate the complexity of managing and paying your freelancers and partners, schedule a demo with our team here.