The Xero Sync functionality will allow you to send your financial information directly from You'reOnTime to Xero.
Before using you will need to configure your accounts in Xero to correspond with the You'reOnTime transactions. You may need to get help from your Accountant in setting up the accounts in an optimal manner for your business, but we have a recommend account configuration to get started.
Connecting To Xero
To Sync with Xero, simply click on the Settings menu and Under the heading Miscellaneous select Xero configuration.
On the Xero configuration screen, click on the Connect to Xero button.
You will be directed to the Xero login screen, please login using your Xero account credentials.
Once logged in, you will need to authorise YoureOnTime to access your Xero account, by clicking on the Authorise button.
Summary or Individual Invoices Sync
There are two types of sync that You'reOnTime can perform with Xero, summary sync or individual invoices. The kind you choose will depend on how much detail you want in reporting from Xero.
Summary sync will send summary information to Xero based on your banking figures. This means you will need to use the You'reOnTime end of day banking functionality. It will then send a total of the banking figures grouped into Cash, Credit Card, Debit Card & Cheque to Xero accounts you have configured. No product or client information will be sent as these are stored in the You'reOnTime data and is the primary data source. As You'reOnTime provides a number of financial reports already, the summary sync works for most people who don't need Xero reporting right down to the invoice level. Summary sync will also be on a cash accounting basis; money will be recorded as it arrives.
Individual Invoices sync will send much more detailed information to Xero. It will send every You'reOnTime invoice and the corresponding payments made including all the line items to Xero. It can also optionally create clients in Xero that correspond to the You'reOnTime clients and products that correspond to the You'reOnTime products. You'reOnTime should still be used as the ultimate source of truth data source but individual invoices sync will allow Xero reporting such as product sales, service sales or gift voucher and loyalty liabilities.
Our recommendation is to use the Summary sync for ease of use unless or Invoice if you are a more advanced Xero user.
There is also one other option here, Invoice Status. This is the status of the invoice in Xero. Most of the time you will want the invoices sent as Authorised status, this means in Xero they will be complete with payment. You could also send them as Draft status where they wouldn't have a payment and you would need to manually Authorise them then Xero.
Next, you will need to configure all the mapping between Xero accounts. If you are not sure of a good Xero accounts set up you can look at our recommendations first. http://help.youreontime.com/article/69-recommended-accounts
Summary Sync Settings
If you chose the Summary sync type then you will be displayed the fields you need to configure.
General Sales Account. This is the Xero ledger account to which invoices will be posted.
Tax. If all your products and services have the same tax rate, for example, a GST in Australia, then you can apply this tax to the summary invoice that is generated. This can help in calculating your tax obligations.
Invoice Sync Settings
If you chose the Invoice sync type then you will be displayed more sales accounts you can use. As you are posting every invoice and line item you can choose a more specific sales account such as those for Product Sales, Service Sales and Voucher Liabilities.
Service Sales Account. Any service sales will be posted to this account on the invoice.
Product Sales Account. Any product sales will be posted to this account on the invoice.
Voucher Liability & Sales Account. Any voucher liabilities will be maintained in this account.
Tips Account. Any tips paid will be posted to this account.
There are also a few other Invoice Sync Settings.
Invoice Client. For every invoice posted to Xero a replica of the client in You'reOnTime will also be sent to Xero. This may help in your reporting, however, you should remember that You'reOnTime will always have the most accurate client information. If you don't want all these clients posted to Xero you can just use a single client for all invoices.
Invoice Product. For every invoice line item posted to Xero, the corresponding product information will also be sent. This can be useful if you want to do reporting on products and services in Xero or if you want to do product ordering and stock control in Xero. If you don't want to have all these products in Xero you can use just a single summary product.
Once you have sent the invoice to Xero, assuming you are sending the invoices as Authorised status, payment will also be sent. You will need to select an account for each of the different payment options available in You'reOnTime. These payments should be either a Current Asset or a Bank account.
You will also need to choose the Rounding account to record any rounding liabilities.
To sync Retail Inventory, you will need to select an account for each of the Retail and Business Use Inventory/Expense transactions.
For Retail Inventory and Business Use Retail Inventory choose Current Asset accounts.
For Retail Expense and Business Use Retail Expense choose Expense accounts.
If you use loyalty points in your business then you will also need to configure loyalty points accounts in Xero. You should have one loyalty liability account to record loyalty points earned, and a loyalty expense account to record loyalty points used.
Non-Sale Payment Accounts
The final thing you will need to configure is Non-Sale Payments. This means a client has deposited money into their account in You'reOnTime that is not for a sale or invoice. This is recorded as a Bank Transfer Receive Prepayment in Xero.
This bank transfer will require you to select a Sales account and a Bank account.
Once completed click on the Save button at the bottom of the screen.
Your configuration is now almost complete and you are only a minute away from sending Invoices to Xero, but the last thing you need to do is map your tax rates to Xero taxes.