4 – ‘Auto-reconcile Xero transactions’ feature – helps to automatically reconcile transactions that have been synced via Synder in your Xero accounting company. See how to update or check your contact details, social media links, tax rates, How To Use Xero Settings time zone, and add your branding to invoices. Chargebee retrieves both the default and custom tax rates that are created in your Xero account. You can select a tax rate from the drop-down list and map for each category and region.

1 – Process payouts – when “ON”, the app will track and create deposit receipts reflecting Stripe Payouts to your checking account. 3 – ‘Fee line account’ – select the account your Stripe fees will be applied to. 3 – ‘Default Product’ – choose or type in this https://bookkeeping-reviews.com/ field a name to be used if there is no product name to be found in your Stripe transaction. 1 – Select a Clearing account for your Stripe transactions here. The app creates Stripe Bank Account for you as a ‘Clearing account’ in your Chart of Accounts in Xero.

How to link your Xero account to Productive

Upon successfully integrating your Xero account with Productive, a new button will appear on your Productive invoices. This integration enables you to send invoices from Productive to your Xero account. Review all of your settings, then when you’re happy toggle the “Enabled” slider at the top to YES. If you add a new account in Xero and need to update a list, hit the the blue refresh link to the right. A linked contact won’t be created if you fill in the “Linked Xero contact” field when creating an organization.

• Use this report to flag discrepancies for further investigation.
• When syncing to Xero we need to know where PracSuite should create sales invoices, along with where to allocate payments.
• If you do not have Stripe gateway enabled, then you will not see this step.
• This section is optional; it’s only needed if you wish to record payments in Xero from Current RMS.
• It is assumed that all data being uploaded to Xero has been finalised, with no further changes expected, before it is uploaded to Xero.
• There may still be situations that require manual adjustments in Xero.

By default, your data is mapped at the product level. If you have accounting groups configured in Back Office, then the transactions will also be reconciled against the categories specified by these groups. Confirm that you have added your desired accounting groups and assigned each item to its relevant accounting group.

Next steps

As sales invoices and PO receipts are transferred immediately across into Xero upon approval, client and supplier details will also update immediately. This tab allows tracking Stripe Payouts – bulk daily/monthly/weekly/etc. Money transfers from your payment processor to the bank. The app will record them in an accounting company as a Transfer from/to clearing account to/from checking account. Accounts are an important part of the Xero system and fundamental to the integration with PracSuite. When syncing to Xero we need to know where PracSuite should create sales invoices, along with where to allocate payments.

To view the status and history of sync transactions, navigate to Integrations → Xero → Sync Now orSee Sync History. You can then view the transactions on the Xero Synchronisation page. You can set up the synchronisation of changes in DEAR Inventory to Xero at a convenient time by enabling and setting up Auto-Sync. Learn about Xero online invoicing for creating and sending beautiful invoices, and letting customers pay you promptly online. Sync up to one year worth of historical sales and payment data to your Xero account. Utilize Xero’s tracking category feature and assign Square locations, categories or products to Xero tracking options.

Manage Your Xero Account

You can create income accounts to show a breakdown of sales or map products or categories to relevant income accounts. When you set up the Bill integration, all invoices that are in Clio will be brought over to Xero. Going forward, when you create or edit an invoice, add a payment, or add a credit note in Clio it will reflect in Xero every five minutes. Select an existing customer for this current invoice, the tax rate as well as the desired status of the invoice when it gets copied into Xero. These mappings are used when posting an invoice to Xero in order to set the Xero invoice line item’s tax rate based on the Current invoice item’s tax rate. The default account code is used when posting an invoice to Xero with invoice items that contain an accumulated charge.

But if you reconcile it in Xero, we will be unable to sync further changes to the expense details . Once you’ve set up a Xero account, you can invite your accountant or bookkeeper to access your business. Each administrator will have access to your information based on enabled permissions. After they are created, you can manage each user settings by giving them user role and by authorizing the user access to companies. After Xero has successfully been connected to Basecone, you can add companies to Basecone that the synchronisation user has access to through the linked Xero account.

Fees tab settings

1 – You can enable the ‘Synchronize automatically ongoing transactions’ feature. If enabled, from now on, all new Stripe transactions will be synced automatically without prior confirmation. Having connected your accounting company – Xero and your Stripe account to Synder financial app, you can start customizing your settings for your Stripe Xero integration.

For example, when an opportunity is invoiced with the grouping option of “opportunity,” the line on the invoice may contain charges from multiple revenue groups. If you are located in Australia, New Zealand, South Africa or the UK then we will have already created a local sales tax rate for you. In order to update the due invoice in Chargebee, you would have to manually record a payment against the payment due invoice in Chargebee.