Overview
Our integration with Xero sets Volopay apart by offering enhanced functionality that can greatly improve your financial workflows. This integration features an automatic bank feed connection that can save you significant time each month. It also boosts reporting accuracy by enabling expense data matching, which allows for easy pushing of receipts and memos to Xero. Furthermore, you have greater control over selecting the specific data you wish to transfer from your Volopay dashboard to Xero. This integration is designed to streamline your accounting processes and enhance your overall financial management.
Setup
To integrate Volopay with Xero, follow these steps:
1. Navigate to the "Accounting" -> "Integration" section on your Volopay dashboard.
2. Click the "Connect" button next to "Xero."
3. You will be redirected to Xero, where you need to enter your sign-in credentials and authorize Volopay to access your data.
4. Once permissions are granted, you will be redirected back to Volopay.
5. Choose the organization you wish to link with Volopay.
6. After selecting the organization, the integration process will be complete, and your chart of accounts, tax codes, and vendors will automatically synchronize.
**Note:** If you're reconnecting and encounter a blank screen during the process, visit your Xero account, go to Settings > Connected Apps, and disconnect Volopay. This should resolve the issue, allowing you to successfully connect Volopay to Xero.
Cards Transaction
ransactions made with a Volopay card appear as bank transactions in Xero. To view these, follow these steps:
Go to Accounting -> Bank Accounts -> Volopay AUD -> Transactions.
When you access a specific transaction, you'll see various details that were synchronized from Volopay. The information displayed will depend on the fields you have enabled in your Xero instance, as well as any tracking categories you have set up.
Steps for Syncing Card transactions:
Ensure the transaction is settled by checking if it has a ledger date.
Choose the appropriate Xero category and verify the transaction.
Once verified, proceed to sync the transaction.
You have the option to bulk select and verify/sync multiple transactions at once.
Note on Sync Dates: When syncing a card transaction, it is done using the transaction date. You also have the option to select an accounting date, which is the date you want the transaction to be recorded on in Xero.
Reimbursements
Reimbursements are processed as bills in Xero, with a bill payment being generated if paid through the Volopay account. If the reimbursement is paid externally, the bill will be synchronized with the default Accounts Payable (AP) Account in Xero.
Here's what happens when we synchronize a reimbursement:
If marked as "Manual Pay," a payment will be made debiting the default account selected.
The vendor is listed as the reimbursed employee's "first name last name," and any additional merchant information is included in the description field within Xero.
Regarding Sync Dates:
Reimbursements are synced using the transaction date. Additionally, you can choose an accounting date, which is the date on which you prefer the transaction to be recorded in Xero.
Steps for Syncing Reimbursements:
Choose the appropriate Xero category and confirm the transaction details.
After verification, proceed to synchronize the transaction.
Alternatively, you can select multiple transactions in bulk and verify/synchronize them together.
Bill Pay
Invoices are processed as bills in Xero, with a corresponding bill payment being generated if the payment is made through a Volopay account. The bill is then synchronized to the Volopay Account in Xero.
Here's an overview of the bill synchronization process:
If the bill is set as "Manual Pay," no payment will be debited from the AP account.
The vendor associated with the bill in Xero will be the one selected from Volopay. If the vendor does not exist in Xero, a new vendor will be created automatically.
Steps for Syncing Bill Payments
Choose the appropriate Xero category and confirm the transaction details.
Once the transaction is verified, proceed to synchronize it.
For efficiency, you can also select transactions in bulk and verify/synchronize them all at once.
Activating Continuous Bill Sync
To enable Continuous Bill Sync during your setup with Xero:
Find the "Continuous Bill Sync" option in the integration settings and turn it on.
Bill Creation and Synchronization
With Continuous Bill Sync activated, any new invoice created in Volopay will automatically be synchronized with your accounting software.
The initial synchronization will capture key details such as bill number, invoice date, due date, line items, and the total amount.
Managing Changes to Bills
If there are any modifications to an existing bill, such as changes in amount, due date, or line items, these can be updated in your accounting system once the bill is paid.
To update a bill, go to the "Bill Payment" section under Accounting, find the bill, and click on the "Resync" button next to it.
After resynchronization, the revised details will be updated in your accounting software, keeping both systems aligned.
Others
Other transactions such as top-ups, invoice payments, adjustments, and other credits or debits can be synchronized with Xero as a bank transaction.
Steps to Sync other transactions:
1. Choose the appropriate Xero category for the transaction.
2. Confirm the details of the transaction.
3. Once verified, proceed to synchronize the transaction.
4. You also have the option to select multiple transactions at once and verify/synchronize them in bulk.