Overview

This article will provide a comprehensive overview of Xero, including what it is, how to get started with the platform, and how to integrate and set it up within the Core Practice system. Starting from the initial connection between Xero and Core Practice, the guide will walk you through each step of the integration and configuration process to ensure a smooth and efficient setup.

What is Xero?

Xero is an online accounting tool for small and medium businesses. It helps you send invoices, track spending, match bank transactions, and view reports. You can use it anywhere and work with your team or accountant easily. Xero makes managing your business finances simple and organised.

This guide will walk you through how to:

1. Activating Xero Integration
2. Linking Bank Account
3. Link Payment Type to the Bank
4. Setting up Provider Account Code
5. Manually Publish Transaction to Xero
6. Turn on Automatic Publishing

Activating Xero Integration

1. In the upper right, click the cog icon, then select Settings.
2. Below Integrations, click Add ons.
3. Look for Integrate with Xero and click the Add button.
4. Click the dropdown, select Company, then click the Allow Access button.
5. Once done, it will show Active, indicating that the integration was successful.

Linking Bank Account

1. In Settings, under Your Business, click Banking.
2. In the upper right, click Create Account.
3. Under Accounting Software, select the Company File and enter the code under Account Code. When you're done, click Save Changes.Code = Account number in Xero/MYOB for the bank account (you must have the bank account set up in Xero and allocated with an account number).

Link payment type to the Bank 

1. Click the Location tab and choose Providers.
2. Under Providers, select the correct location in the upper right and choose the provider you will be setting up.
3. On the left, click Banking. Select the payment methods you want to add to Xero and drag them into the bank account created in the previous steps.

Setting up Provider Account Code

1. Click Details under Providers on the left side.
2. Enter the provider Collection Code from Xero.Collection Code = The general ledger account where you want the income to appear in Xero/MYOB. This is typically an income account but could also be a balance sheet account.

Manually Publish Transactions to Xero

We recommend testing your setup first. Before enabling automatic publishing, manually test the banking transactions for a week or two. To publish manually, follow the steps below:

1. Go to the Locations tab and click Bank Transactions.
2. Select the correct location in the upper right.
3. Filter the date range or select the month of the transaction. Click the cog icon next to the transaction and choose Publish Transaction.This transaction will then appear in your accounting system under Bank Reconciliation.

Turn on Automatic Publishing

Once you are satisfied with the manual publishing, please ask Core Practice to enable automatic publishing.

Note: Transactions are automatically published two days after the transaction date to allow time for review in Core Practice.

If you have any questions, please click the yellow Help button at the bottom left and chat to us. We are more than happy to help!