New API features for our QuickBooks, Xero, Freshbooks integrations

Railz Q3 2021 Product Releases include new financial data API features and new features for our existing QuickBooks, Xero, Freshbooks integrations

Railz is constantly improving our existing integrations to bring you the financial data you need. In our third quarter (Q3), we launched a lot of additional push and pull functionality to our integrations as well as new features for our financial data API. Building the largest financial data network to support the future of financial requires our financial services, institutions, and fintechs to easily access the normalized data they need to succeed. Throughout our product decisions, we kept your small and medium-sized business (SMB) customers in mind, thinking of how we can make a product that provides the best value to your end user. In Q3, we released:

• New API Endpoints
• Expanded QuickBooks Desktop coverage
• New Push and Pull API Endpoints Xero
• New Push and Pull API Endpoints QuickBooks Online
• New Push and Pull API Endpoints Freshbooks

New features of the Railz financial data API

Our API underwent some feature changes to provide you access to higher quality and more accurate financial data on your small and medium-sized business customers.

Railz Roadmap Release: Endpoint - Get accounting transactions summary

What’s new about the transactions endpoint?
The Transactions endpoint is being deprecated and replaced by a new Accounting Transactions endpoint.

Why is the new Accounting Transactions endpoint valuable to you?
A new accounting transactions summary which replaces the legacy transactions endpoint to provide access to more granular financial data about each business transaction in the accounting service provider.

Railz Roadmap Release: Filter transactional data by customer, vendor, and currency

What’s new about filtering transactional data?
You can now filter transactional data, such as bills and invoices, based on customer, vendor, and currency.

Why is filtering transactional data valuable for you?

Being able to filter data by customer, vendor, or currency, allows you to specify the type of data you wish to collect and normalize as well as get access to granular and specific data on your small- and medium-sized businesses.

New features of Railz's existing integrations: QuickBooks Desktop

Railz Roadmap Release: Expanded quickbooks desktop coverage

We expanded the data coverage for QuickBooks Desktop to pull the most common data types used and requested by you:

• A/R Aging Report
• A/P Aging Report
• Journal Entries
• Bills
• Invoice Payments
• Customers
• Vendors
• Inventory
• Tracking Categories (a.k.a Classes)

New features of Railz's existing integrations: Xero

Railz Roadmap Release: Push and Pull bank transfers to and from Xero

What’s new about pushing and pulling bank transfers to and from Xero?
With the ability to pull bank transfers from Xero, you will be able to retrieve bank transfers to see all transfers between a business' bank accounts. As well, you can now push bank transfer transactions between businesses' bank accounts in Xero.

Why is pushing and pulling bank transfers valuable for you?
This new feature of our Xero integration is useful for when you need to record the movement of funds between bank accounts.

Railz Roadmap Release: Push deposits to Xero

What’s new about pushing deposits to Xero?
You can now create deposits and prepayments received from your business customers through our API.

Why is the ability to push deposits to Xero valuable for you?
The ability to push deposits to Xero enables you to have visibility into the deposits and prepayments received by your business customers.

Railz Roadmap Release: Push purchase orders to xero

What’s new about pushing purchase orders to Xero?
Railz now supports creating purchase orders in Xero.

Why is the ability to push purchase orders to Xero valuable for you?
With the ability to push purchase orders to Xero, it provides visibility of the purchasing pipeline of your business customers. It also enables procurement apps to automate the source-to-pay process for your small- and medium-sized businesses.

New features of our existing integrations: QuickBooks Online

Railz Roadmap Release: Push deposits to QuickBooks Online

You can now create deposits/prepayments received from a business' customers through our API.

Railz Roadmap Release: Push purchase orders to QuickBooks Online

What’s new about pushing purchase orders to QuickBooks Online?
Railz now supports creating purchase orders in QuickBooks Online.

Why is the ability to push deposits to QuickBooks Online valuable for you?
With the ability to push purchase orders to QuickBooks Online, it provides visibility of the purchasing pipeline of your business customers. It also enables procurement apps to automate the source-to-pay process for your small- and medium-sized businesses.

Railz Roadmap Release: Pull accounts payable aging report from QuickBooks Online

What’s new about pulling accounts payable aging reports from QuickBooks Online?
Railz now supports pulling accounts payable aging reports from QuickBooks Online.

Why is the ability to pull accounts payable aging reports from QuickBooks Online valuable for you?
An accounts payable ageing report shows the balances that small- and medium-sized businesses owe to others. The report helps your financial service organize and visualize the amounts that your business customers owe within QuickBooks Online.

Railz Roadmap Release: Pull accounts receivable aging report from QuickBooks Online

What’s new about pulling accounts recievable aging reports from QuickBooks Online?
Railz now supports pulling accounts receivable aging reports from QuickBooks Online.

Why is the ability to pull accounts receivable aging reports from QuickBooks Online valuable for you?
Quickbooks Online accounts receivable aging is useful in determining the allowance for doubtful accounts. When estimating the amount of bad debt to report on small- and medium-sized businesses’ financial statements, the accounts receivable aging report is useful to estimate the total amount to be written off.

New features of our existing integrations: Freshbooks

Railz Roadmap Release: Pull accounts receivable aging report from Freshbooks

What’s new about pulling accounts receivable aging reports from Freshbooks?
Railz now supports pulling accounts receivable aging reports from Freshbooks.

Why is the ability to pull accounts receivable aging reports from Freshbooks valuable for you?
Freshbooks accounts receivable aging is useful in determining the allowance for doubtful accounts. When estimating the amount of bad debt to report on a SME's financial statements, the accounts receivable aging report is useful to estimate the total amount to be written off.

🌟 New features for Railz Dashboard™

Our Railz Dashboard™ allows you to visualize financial data insights and analytics on your small- and medium-sized businesses. You can configure the Railz Dashboard to provide the highlights, insights, and more that you need. Create dashboards that you can display to your enterprise financial customers, too.

Railz Roadmap Release: Assign an Analyst role to team members

You can now assign an Analyst role to new or existing team members. Members with the Analyst role have view access to the Businesses, such as view business list and data visualizations. Members with the Analyst role also have access to Reports menus, such as view, filter, and export financial data.

Why is the ability assign roles on the Railz Dashboard™ valuable for you?Assigning roles allows you to provide access to specific team members for specific needs.

Railz Roadmap Release: Improvements on businesses list page

We have made updates to the businesses list page of our Railz Dashboard™.

Why are the improvements on businesses list page in the Railz Dashboard™ valuable for you?

On the new businesses page will be easier than ever to see all the businesses you added to Railz. You will be able to access information such as the service provider they connected, view their data, and manage the business as well as its connections.

Railz Roadmap Release: Visualizations of business financial data

We released the first version of our brand new business financials visualization and will include the most common financial summaries for measuring business performance. In the first version, you will be able to view the following charts and trends:

• Invoices Summary
• Bills Summary
• Bank Accounts Balances
• Top Expenses
• Top Revenue
• Railz Credit Score & Rating
• Cashflow Statement
• Balance Sheet
• Income Statement
• Financial Ratios

Why are the improvements on businesses list page in the Railz Dashboard™ valuable for you?

If you would like to view and understand your small- and medium-sized businesses’ health without the need for building a full data visualization portal, you can now take advantage of the new Railz Dashboard™ to view and monitor their financial data.

Railz Roadmap Release: Visualizations of business financial data

With new updates to our Dashboard, you can now customize the look and feel of Railz Sites and Railz Connect to align with your company’s branding:

• Set the brand colour for your active tiles, highlights and text-based CTAs
• Set accent colour for your active button CTAs
• Upload your company logo

More exciting product launches coming soon for Railz 🚀

Shortly, we will be releasing a public roadmap that will allow you to monitor our feature releases and vote on features that you need to build the financial services of the future. In the meantime, please join us on the Railz Slack Community to participate in the conversation.