Prepare your Revenue and Expense Accounts
The integration process will require that you create all the income accounts you will need for exported invoices as well as expense account for exported purchases. These accounts are required for the GL mappings you create in Connectwise PSA.
To access you Chart of Accounts in Xero go to Settings > Chart of Accounts.
Prepare your Tax Codes
The Integration will use four tax codes in all transactions:
- A tax code for taxable income
- A tax code for tax free income
- A tax code for taxable purchases
- A tax code for tax free purchases
Xero may already come with these tax codes, but otherwise you can define and nominate your own. You will need to map these tax codes in the Configuration screen of the Integration.
To access the Tax Code list in Xero go to Settings > General Settings > Tax Rates.