Deluxe, Codat Team Up to Improve Accounting

Payments technology firm Deluxe said Tuesday (May 10) it had formed a partnership with small business data API provider Codat.

According to a company news release, the firms will work together to allow customers who use Deluxe’s payroll and HR solutions to automatically reconcile their accounting data back into their accounting software. This offering is available now for users of QuickBooks Online (QBO), the release said.

“Seamless in-platform integration to a business’ accounting software is not common with payroll providers today,” the companies said in the release. “Historically, owners of small- and medium-sized businesses using accounting software, such as QuickBooks, had to export their payroll data from their current payroll provider’s platform, and then manually import it into their accounting software.”

The collaboration will mean business owners only have to connect once on the Deluxe platform. With the help of Codat’s technology, ongoing synchronization is handled seamlessly in the background. The companies said that by automating this manual process, business owners will save time, reduce errors and ensure payroll data accuracy.

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Last week, Deluxe reported its quarterly earnings, noting that businesses are still paying bills with checks, often enough to lead to a 6.9% year-over-year increase in revenue in the company’s checks segment.

The growth was fueled by the company landing new business, by price increases that offset inflation and by sales of business checks growing and holding up well versus the use of personal checks, Deluxe executives said.