Difference between revisions of "Xero Accounts Setup"

Latest revision as of 16:31, 31 January 2023

Configuring Xero for Standout Integration

Xero needs to have the following definitions to provide integration, this MUST be completed before you set up the link in Standout!!!!

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.

Chart Of Accounts Suggestion
Type	Code	Name	Description	Tax
Sales	1001	Tenant Rents		No Tax
Other Income	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 the App Accounts fields (the ones in italic below) 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**
Field	Description
Accounts system	Xero
Xero Client ID	Standout App Client ID (LEAVE BLANK)
Xero Client Secret	Standout App Client Secret (LEAVE BLANK)
Xero Webhooks Key	Standout App Webhooks key (LEAVE BLANK)
Invoice Start Date	Send invoices from the date entered, by default Standout will initially suggest todays’ date, overwrite with an earlier date if required.
Contact Start Date	Send contacts from the date entered, by default Standout will initially suggest todays’ date, overwrite with an earlier date if required.

**Rental chart account codes**
Field	Description
Invoice number prefix	An identifier to make searching for invoices from Standout in Xero easier
Rent requests	Rent due invoices from Standout
Bond requests	Bond requests from Standout
Repair invoices	Repair invoices charged to landlords against their properties
Tenant changes	Invoices raised against tenants for a managed property
Landlord charges	Invoices raised against landlords for their property managed by an agent
Recurring invoices	Invoices raised against a tenant for a managed property

**Sales chart account codes**
Field	Description
Invoice number prefix	An identifier to make searching for invoices from Standout in Xero easier
Vendor invoices	Invoices raised against a vendor selling a property
Solicitor invoices	Invoices 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

@@ Line 1: / Line 1: @@
 == Configuring Xero for Standout Integration ==
-Xero needs to have the following definitions to provide integration
+Xero needs to have the following definitions to provide integration, this MUST be completed before you set up the link in Standout!!!!
 ==== Chart of Accounts ====
@@ Line 27: / Line 27: @@
 |No Tax
 |-
-|Sales
+|Other Income
 |1002
 |Bond requests
@@ Line 80: / Line 80: @@
 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
@@ Line 87: / Line 86: @@
-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 the App Accounts fields (the ones in italic below) 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
+{| class="wikitable"
+|+'''Accounts link'''
-Accounts systemXero
+!Field
+!Description
-Xero Client IDStandout App Client ID
+|-
+|Accounts system
-Xero Client SecretStandout App Client Secret
+|Xero
+|-
-Xero Webhooks KeyStandout App Webhooks key
+|''Xero Client ID''
+|Standout App Client ID    (LEAVE BLANK)
+|-
-Invoice Start DateSend invoices after the date entered, by default
+|''Xero Client Secret''
+|Standout App Client Secret    (LEAVE BLANK)
-Standout will initially suggest todays’ date,
+|-
+|''Xero Webhooks Key''
-overwrite with an earlier date if required.
+|Standout App Webhooks key    (LEAVE BLANK)
+|-
-Rental chart account codes
+|Invoice Start Date
+|Send invoices from the date entered, by default Standout will initially suggest todays’ date, overwrite with an earlier date if required.
-Invoice number prefixAn identifier to make searching for invoices
+|-
+|Contact Start Date
-from Standout in Xero easier
+|Send contacts from the date entered, by default Standout will initially suggest todays’ date, overwrite with an earlier date if required.
+|}
-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
-Accounts synchronisation
-Branch selection
-To begin the process a branch must be selected (if only one branch exists, that branch will be defaulted).
+{| class="wikitable"
+|+'''Rental chart account codes'''
+!Field
+!Description
+|-
+|Invoice number prefix
+|An identifier to make searching for invoices from Standout in Xero easier
+|-
+|Rent requests
+|Rent due invoices from Standout
+|-
+|Bond requests
+|Bond requests from Standout
+|-
+|Repair invoices
+|Repair invoices charged to landlords against their properties
+|-
+|Tenant changes
+|Invoices raised against tenants for a managed property
+|-
+|Landlord charges
+|Invoices raised against landlords for their property managed by an agent
+|-
+|Recurring invoices
+|Invoices raised against a tenant for a managed property
+|}
+{| class="wikitable"
+|+'''Sales chart account codes'''
+!Field
+!Description
+|-
+|Invoice number prefix
+|An identifier to make searching for invoices from Standout in Xero easier
+|-
+|Vendor invoices
+|Invoices raised against a vendor selling a property
+|-
+|Solicitor invoices
+|Invoices raised against a property completion to be paid by the vendors solicitor
+|}
-If you have not logged into Xero prior, you are required to click the Login to the accounts system.
+'''Note: You CANNOT use the same Invoice Number Prefix for Rentals and Sales – they MUST be unique'''
-To log in, you will need to log in with your Xero email address, password and be successful. Xero will prompt you to choose the required company to integrate.
+'''We do not recommend leaving them blank so that you’re able to identify Standout documents easily'''