Xero Sync Methods

There are different methods to Sync your finanical data to Xero. Below are a few different methods to assist you

To learn more about coreplus & Xero, click here

 

Note: You will need to sign up with Xero in order to utilise this feature. You can try Xero for free at www.xero.com

Synchronisation - Method One

This method is the most basic way of synchronising financial information to your Xero account. As above, unpaid invoices are to be directed to a 'revenue' account in Xero. Payments are then to be directed to the bank account that is used for reconciliation in Xero.

 

Synchronisation - Method Two

This method of syncrhonisation is somewhat more sophisticated than method one but will allow for greater control over the reconciliation process.

Again, invoices are to be allocated to a 'revenue' account in Xero.

  • A new 'current asset' account should be created in Xero and named 'coreplus receivables' or something similar.
  • Payments should be allocated to the 'coreplus receivables' account.

Bank transactions should be manually allocated to the same 'coreplus receivables' account using the 'Create' tab on the Xero reconciliation screen.

You may wish to consult with your accountant about the implications of each method and the preferred reconciliation method for your practice.

 

FAQ's

I keep receiving the warning 'Account type is invalid for making a payment to/from' in my coreplus sync history. Why is this?
First and foremost, this may occur if one of the account numbers that has been specified in coreplus corresponds to an inappropriate Xero account.

However, this may also occur if the specified 'receivables' account does not have payments enabled. In order to do this:

  1. Log in to Xero
  2. Navigate to 'Settings', then 'Chart of Accounts'
  3. Locate the relevant account in the list that appears and click on it
  4. From the screen that appears, ensure that 'Enable payments to this account' is ticked. After doing this, click on 'Save'.

 

Common Responses from Xero

Error: Payment amount exceeds the amount due on this invoice
As suggested by this error message, the payment recorded on the invoice in coreplus is higher than the total owing. The invoice must be revised for the payment to synchronise successfully.

James Hogan -

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