Xero
Discover how to connect your Supply’d platform with Xero, gaining real-time visibility into your finances while reducing the hassle of manual data entry and reconciliation.
How to Integrate Supply'd with Xero
Functionality includes:
Automatically create Xero invoices when a new Supply'd order is shipped.
Automatically create new customers in Xero if the customer doesn't exist.
Automatically sync invoice payments with Xero for Supply'd credit card payments.
Automatically sync reconciled payments from Xero to Supply'd.
Automatically sync inventory values from Xero to Supply'd.
Automatically handle cost of goods within Xero.
Automatically create Xero purchase orders from Supply'd.
Automatically create new suppliers in Xero if the supplier doesn't exist.
Data Flow
Supply'd primarily serves as the master data source for syncing with Xero. However, for invoice and bill payments, Xero updates Supply'd with the payment status.
Connect To Xero
Simply click on your company name in the top right then select Settings.
In the Settings menu, scroll down and select Integrations.
Click on Add + in the top right-hand corner.
The Add Integration page will show. Click on the Xero icon. You will be taken to Xero where you can login and grant access to Supply'd.
After returning to Supply'd, if the Xero Settings form doesn't automatically open, select Xero from theIntegrations list using the steps above.
The Xero Settings screen should appear. Complete the fields as follows:
Integration Name
Name your Xero integration. This can be used to differentiate between multiple Xero integrations if you have them.
Status
Will tell you if Supply'd is connected to your Xero account.
Sync Supply'd Orders
Toggle on to sync invoices from Supply'd to Xero.
Supply'd Invoice Number Prefix
An optional prefix for Supply'd Invoice numbers sent to Xero. This is useful to prevent duplicate invoice numbers in Xero.
Supply'd Sales Account
Which sales account to sync sales made from Supply'd to in Xero. Select from the drop-down. This should be a Revenue account.
Supply'd Shipping Account
What shipping account to sync shipping fees to in Xero. Select from the drop-down. This should be a Revenue account.
Supply'd Credit Card Fees Account
What account to sync credit card fees received from Supply'd to in Xero. Select from the drop-down. This should be a Revenue account.
Supply'd Rounding Account
What rounding account to sync any required rounding to in Xero. Select from the drop-down. This should be a Current Liability account.
Supply'd Clearing Account
What account to sync payments made against these orders to in Supply'd. This is recommended to be a Supply'd clearing account for payments from invoices. Select from the drop-down. This should be a Current Liability account with Enable payments to this account checked.
Sync Supply'd Orders
When to sync Supply'd orders to Xero.
After Order Shipped: Will sync the orders to Xero only after they have shipped.
After Order Placed: Will sync the orders to Xero only after they have been placed in the system.
Sync Purchase Orders?
Whether or not to sync purchase orders from Supply'd to Xero.
Supply'd Purchase Order Prefix
An optional prefix for Supply'd Invoice numbers sent to Xero.
Bill Account
Which expense account to sync sales made from Supply'd to in Xero. If accruing costs at the time of receipt this should be a Direct Costs account. If with inventory sync this should be a Current Asset account matching your Inventory Account.
Shipping Expense Account
Which shipping account to sync shipping fees to in Xero. This should be an Expense account.
Credit Card Fees Expense Account
Which account to sync credit card fees paid from Supply'd to in Xero. This should be an Expense account.
Rounding Account
What rounding account to sync any required rounding to in Xero. This should be a Current Liability account.
Sync Inventory?
Whether or not to sync inventory totals from Supply'd to Xero.
Sync Historical Cost of Goods
Whether or not to sync historical cost of goods for orders already shipped. Select Yes or No from the drop-down.
If Yes, all orders costs in Supply'd will be synced, if No only new orders will be synced.
Sync COGS
How you would like COGS (Cost of Goods) synced to Xero.
By Invoice: A journal entry will be made for each invoice with the costs of goods transfer.
Daily Summary: A journal entry will be made once each day with the total cost of goods transfer.
Inventory Account
What account would you like to use for inventory. This should be a Current Asset account.
Inventory Adjustments Account
An inventory adjustments account to handle inventory variations outside of received orders or sales. This should be "Current Liability" account.
Cost of Goods Account
What account to apply cost of goods sold to in Xero. Cost of goods will be applied to the P&L after as order has been shipped. Disable inventory syncing to apply at the time of goods receipts. This should be a "Direct Costs" account.
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Reconciling in Xero
To reconcile in Xero it is important to understand how payments work with Supply'd. For credit card payments these will be handled by Supply'd and paid out to you once a week. Invoice and cash on delivery are both paid directly from the customer to the supplier.
For the credit card payments the payments for these are all associated to the clearing account selected as your Payment Account above. We will automatically allocate the credit card payments and any associated fees to this account. When a payout is received you should clear this payment against the clearing Payment Account. The account should then balance itself out unless modifications have been made to invoices.
For invoice and cash on delivery payments, when these payments are received you should reconcile these against the appropriate invoice that have already been synced to Xero.
Disconnecting from Xero
If you would like to disconnect from Xero you can do so by clicking on your company name in the top right, then select Settings. Select Integrations from the Settings menu, then Xero from the Integrations menu (as above).
Click on the 3 dots in the top right-hand corner. Select Remove Integration.
You will be asked to confirm.
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