Difference between revisions of "Xero Accounts Setup"
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Those staff members that require access to transfer contacts/invoices to any Accounting System, they need this permission adding to their profile. To do this, click Administration/Staff/Staff member/Edit Staff. Then, choose Permissions and place a tick (or remove if required) against “Accounting Software Link”. | Those staff members that require access to transfer contacts/invoices to any Accounting System, they need this permission adding to their profile. To do this, click Administration/Staff/Staff member/Edit Staff. Then, choose Permissions and place a tick (or remove if required) against “Accounting Software Link”. | ||
===== Branch configuration ===== | |||
Branch configuration | |||
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We recommend that the following Accounts link fields are left blank when configuring Standout/Xero for the first time. By leaving these fields blank, Standout will populate each of these fields with our Xero App configuration details. Enter your own ONLY if you’ve created them within Xero (developer functions). | We recommend that the following Accounts link fields are left blank when configuring Standout/Xero for the first time. By leaving these fields blank, Standout will populate each of these fields with our Xero App configuration details. Enter your own ONLY if you’ve created them within Xero (developer functions). | ||
Accounts link | ====== Accounts link ====== | ||
Accounts systemXero | Accounts systemXero | ||
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Invoice Start DateSend invoices after the date entered, by default | Invoice Start DateSend invoices after the date entered, by default Standout will initially suggest todays’ date, overwrite with an earlier date if required. | ||
Standout will initially suggest todays’ date, | |||
overwrite with an earlier date if required. | |||
====== Rental chart account codes ====== | |||
Invoice number prefixAn identifier to make searching for invoices | Invoice number prefixAn identifier to make searching for invoices | ||
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Bond requestsBond requests from Standout | Bond requestsBond requests from Standout | ||
Repair invoicesRepair invoices charged to landlords against | Repair invoicesRepair invoices charged to landlords against their properties | ||
their properties | |||
Tenant changesInvoices raised against tenants for a managed | Tenant changesInvoices raised against tenants for a managed | ||
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property | property | ||
Landlord chargesInvoices raised against landlords for their | Landlord chargesInvoices raised against landlords for their property managed by an agent | ||
property managed by an agent | |||
Recurring invoicesInvoices raised against a tenant for a managed | Recurring invoicesInvoices raised against a tenant for a managed | ||
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Sales chart account codes | Sales chart account codes | ||
Invoice number prefixAn identifier to make searching for invoices | Invoice number prefixAn identifier to make searching for invoices from Standout in Xero easier | ||
from Standout in Xero easier | |||
Vendor invoicesInvoices raised against a vendor selling a property | |||
Solicitor invoicesInvoices raised against a property completion to be paid by the vendors solicitor | |||
'''Note: You CANNOT use the same Invoice Number Prefix for Rentals and Sales – they MUST be unique''' | |||
'''We do not recommend leaving them blank so that you’re able to identify Standout documents easily''' | |||
Revision as of 11:16, 9 March 2022
Configuring Xero for Standout Integration
Xero needs to have the following definitions to provide integration
Chart of Accounts
In your chart of accounts, we suggest the following are created, but if in doubt, seek advice from you accountant:
Revenue
- Code a code of your choice.
- Name a self-explanatory name.
- Tax Rate the required tax classification.
| Type | Code | Name | Description | Tax |
| Sales | 1001 | Tenant Rents | No Tax | |
| Sales | 1002 | Bond requests | No Tax | |
| Sales | 1003 | Repair invoices | 20% (VAT on income) | |
| Sales | 1004 | Charges to tenants | 20% (VAT on income) | |
| Sales | 1005 | Charges to landlords | 20% (VAT on income) | |
| Sales | 1006 | Recurring invoices | 20% (VAT on income) | |
| Sales | 1007 | Invoices to Vendors | 20% (VAT on income) | |
| Sales | 1008 | Invoices to Solicitors | 20% (VAT on income) |
Note: If one or more of these are not configured in Standout, transfers will not occur, warnings are displayed
Configuring Standout for Xero Integration
Staff configuration
Those staff members that require access to transfer contacts/invoices to any Accounting System, they need this permission adding to their profile. To do this, click Administration/Staff/Staff member/Edit Staff. Then, choose Permissions and place a tick (or remove if required) against “Accounting Software Link”.
Branch configuration
Standout requires the following information to be entered (in Administration/Branch/Edit Branch/Accounts link
We recommend that the following Accounts link fields are left blank when configuring Standout/Xero for the first time. By leaving these fields blank, Standout will populate each of these fields with our Xero App configuration details. Enter your own ONLY if you’ve created them within Xero (developer functions).
Accounts link
Accounts systemXero
Xero Client IDStandout App Client ID
Xero Client SecretStandout App Client Secret
Xero Webhooks KeyStandout App Webhooks key
Invoice Start DateSend invoices after the date entered, by default Standout will initially suggest todays’ date, overwrite with an earlier date if required.
Rental chart account codes
Invoice number prefixAn identifier to make searching for invoices
from Standout in Xero easier
Rent requestsRent due invoices from Standout
Bond requestsBond requests from Standout
Repair invoicesRepair invoices charged to landlords against their properties
Tenant changesInvoices raised against tenants for a managed
property
Landlord chargesInvoices raised against landlords for their property managed by an agent
Recurring invoicesInvoices raised against a tenant for a managed
property
Sales chart account codes
Invoice number prefixAn identifier to make searching for invoices from Standout in Xero easier
Vendor invoicesInvoices raised against a vendor selling a property
Solicitor invoicesInvoices raised against a property completion to be paid by the vendors solicitor
Note: You CANNOT use the same Invoice Number Prefix for Rentals and Sales – they MUST be unique
We do not recommend leaving them blank so that you’re able to identify Standout documents easily