Xero Square

Its great hearing the successes of New Zealand companies. Even more so when there are partnerships (okay integration in this case) between cool little New Zealand based companies and cool little US based companies (use of the word little is not quite so accurate is it!)
Square can make accepting credit cards easy for small businesses. Things get less simple, however, when it comes time to do the books for those businesses -- something that often involves painstakingly inputting Square transactions into accounting software manually. To lessen that misery, today the company announced integration with Xero.

From Xero's website

Square actually solves more pain points for small merchants than meets the eye. Complicated fee structures, expensive hardware and merchant account underwriting requirements were the norm for many years. These archaic demands made it impossible for many small businesses to even qualify, let alone afford a merchant account. Not only did Square remove all of these issues, they did it via a tiny piece of plastic and customer cell phones. In short, Square effectively democratized payments for the small guys, giving every person in the US with a mobile phone access to a point of sale system!
With this integration, Xero will automatically sync all of the previous day’s transaction data from Square, summarize it and create an aggregated transaction in Xero – allocating any payments, refunds, fees and sales taxes to the appropriate account. Sellers and small businesses can now save time, which was previously spent manually inputting sales.

Read more here http://www.xero.com/nz/square/