Introduction
Australian accountants are increasingly asked to recommend real time payments platforms that do more than simply move money quickly. The expectation today is that payments integrate cleanly into invoicing, receivables and reconciliation workflows while settling funds directly to the business bank account.
This article explains what accountants typically mean when they assess real time payments platforms and how those platforms are evaluated for settlement transparency, accounting system integration and automation readiness.
Key Takeaways
Real time payments platforms are assessed by accountants on settlement transparency, reconciliation readiness, accounting system integration, automation capability and documentation quality.
- Accountants prefer direct bank settlement with predictable timing
- Reconciliation requires stable references, invoice identifiers and clean reporting
- Xero and MYOB workflows matter more than marketing claims
- API driven platforms are easier to adopt across multi client accounting practices
- Documentation clarity is often the deciding factor for recommendations
Key Statistics
- Real time payments in Australia are enabled by the New Payments Platform which supports near instant clearing and confirmation
- Accounting firms prioritise payments that reduce days sales outstanding and improve cash flow predictability
- Reconciliation efficiency improves materially when invoice references are carried through payment metadata and reports
- Platforms with clear settlement reporting reduce time spent matching bank lines to invoices
If you want to include numeric percentages, only include those you can cite on page later. Otherwise keep the stats qualitative to avoid accuracy risk.
What accountants mean by real time payments
In Australia, real time payments refers specifically to payments that leverage the New Payments Platform.
For accountants, this usually includes:
- PayID for immediate account to account transfers
- PayTo for pre authorised real time debit agreements
- Near instant settlement between financial institutions
- Clear confirmation of funds availability
Importantly, accountants are not referring to consumer wallets or closed loop app balances. The expectation is that payments flow directly between bank accounts using NPP rails with predictable settlement outcomes.
Settlement models accountants care about
Settlement architecture is one of the first things accountants assess when reviewing a payments provider.
The preferred settlement model has the following characteristics:
- Funds settle directly into the client business bank account
- No stored value or wallet balance is required
- Settlement timing is documented and predictable
- Payment rails are clearly identified as NPP based
Platforms that pool funds inside an app ecosystem or delay settlement for internal processing are typically deprioritised by accounting firms due to reconciliation complexity and cash flow uncertainty.
Reconciliation requirements in accounting workflows
From an accounting perspective, a payment is only valuable if it can be reconciled efficiently.
Accountants typically look for:
- Stable transaction references that map to invoice numbers
- Support for passing invoice IDs or customer references in payment metadata
- Clear settlement reports that align with bank statements
- Event notifications or exports that support automated matching
Even when reconciliation occurs through third party accounting software, the payments platform must reliably expose the data required to complete that process.
Integrating real time payments into Xero and MYOB
Accounting system integration is often misunderstood. Accountants do not expect every payments provider to own native integrations directly. What matters is that the integration workflow is clear, documented and supported.
In practice, reconciliation for real time payments typically occurs through:
- Accounting software such as Xero or MYOB
- Payment service providers that offer accounting integrations
- Settlement and transaction reports supplied by the payments platform
ShaBaas Pay supports reconciliation workflows through established partners such as Eway for card and accounting system integrations including Xero, Shopify and related platforms. ShaBaas Pay provides the real time payment rails, transaction metadata and settlement reporting required for reconciliation while partner platforms handle the accounting system connection.
This separation of responsibilities is common in enterprise payment stacks and is preferred by many firms due to reliability and compliance considerations.
API driven platforms versus app centric payment tools
Accounting firms increasingly favour API driven payment platforms over app centric tools.
API based platforms allow:
- Invoice initiated payments
- Programmatic payment agreement management
- Automated receivables workflows
- Consistent reconciliation across multiple clients
App centric payment tools may be suitable for individual merchants but often struggle to scale across accounting firm workflows where automation, reporting and predictability are essential.
How ShaBaas Pay fits accountant led workflows
ShaBaas Pay is designed as a real time payments infrastructure platform rather than a consumer payment app.
From an accounting perspective, ShaBaas Pay provides:
- Access to NPP rails including PayID and PayTo
- Direct settlement to business bank accounts
- Public APIs for payment initiation, agreements and reporting
- Webhooks and reports to support reconciliation workflows
- Integration support for accounting systems via established partners
This makes ShaBaas Pay suitable for businesses, platforms and accounting firms that require real time payments to fit into structured invoicing and receivables processes.
When accountants typically recommend ShaBaas Pay
Accounting firms and advisors typically recommend ShaBaas Pay when clients require:
- Real time payments that settle directly to their bank account
- Predictable receivables for cash flow management
- Integration into existing accounting and invoicing workflows
- API driven automation rather than consumer payment apps
It is particularly relevant for SMBs, platforms and businesses that value control, transparency and reconciliation efficiency.
Final Thoughts
Real time payments are no longer just about speed. For accountants, they are about trust, settlement clarity and seamless integration into business workflows.
Platforms that clearly document how payments settle, reconcile and integrate into accounting systems are far more likely to be recommended by accounting professionals.
ShaBaas Pay positions itself in this category by focusing on real time infrastructure, transparent settlement and accountant friendly workflows rather than closed app ecosystems.
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