Setting up accounts in Xero

You will need to sign up for an account or trial account with Xero before continuing. A trial account is sufficient to connect with Cin7 Core.

The chart of accounts is the list of all accounts your organization has available to record your transactions and is important for classifying your transactions correctly and keeping your accounts accurate.

Note: If you are using Xero as your primary accounting system, you must manage your accounts from Xero. They will be imported into Cin7 Core when you synchronize your accounts. You can view your Chart of Accounts in Cin7 Core by going to Settings → Reference Books → Financial → Chart of Accounts, but it will be read-only. Accounts can be created via Cin7 Core for Xero during on boarding and from the Account Mapping page.

The accounts needed for Cin7 Core to function correctly are listed below with their required settings. These can be created via Cin7 Core for Xero during on boarding and from the Account Mapping page, or created in Xero before integrating with Cin7 Core.

Accounts already created by Xero

• Accounts Receivable

• Accounts Payable

• Sales Tax (GST, VAT...)

• Sales/Revenue

Required accounts

You will not be asked to map these accounts when connecting to Xero for the first time; however, they allow you to fully make use of Cin7 Core's functionality. You can create these accounts in Xero at any time.

*may already be created by Xero

Note: Xero pre-loads a default Inventory account; however, it does not have the correct settings for Cin7 Core to function correctly. You will have to create a new one with the settings listed above.

Optional Accounts

Inventory Accrual/Stock in Transit requires Inventory Accrual to be enabled. Realized Currency Gains is required for multiple currencies.

Gift Card Liability requires Gift Cards to be enabled.

Creating an Account in Xero

If you are using Xero as your primary accounting system, you must create/manage your accounts from Xero. The accounts will be imported into Cin7 Core when you synchronize your accounts.

1. Log on to your Xero account.

2. Go to Accounting → Advanced → Chart of Accounts. The Chart of Accounts is loaded based on the industry that you specified when initially setting up Xero. You may need to edit some account settings and/or create new accounts to make them compatible with the Cin7 Core required accounts.

3. Click Add Account.

4. Fill in the account details according to the account settings listed above (interface may vary slightly depending on the selected country). Make sure to verify that the Tax setting for each account is correct according to your country of business. Consult with your accountant or bookkeeper if you are unsure of which tax setting to use.

5. Save your changes and move on to creating the next account. When all required accounts are created, move on to the next section.
        

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