Xero Support

Xero Accounting FAQs

General

How do I create a clearing account in Xero?

Unfortunately, Xero doesn't allow you to  reconcile  in foreign  currency . This means that if Amazon/eBay/Shopify converts to a currency that is not your home currency you will have to take additional steps by using a clearing account. In the...

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By Michael Schwartz

updated 21 days ago

Why am I having issues sending bulk settlements to Xero?

Unfortunately, Xero's API only allows us to send approximately five settlements at a time. Please only send bulk settlements to Xero in sets of five at a time. We hope this changes in the future but we are currently held to Xero's restriction.

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By Michael Schwartz

updated 21 days ago

How to create a Cost of Goods Sold account and an Inventory Asset account in Xero

taxomate will automatically create a Cost of Goods Sold account and Inventory Asset account for you in Xero during Quick Setup. However, the following steps will show you how to create your own. STEP 1. Go to Chart of Accounts Ledger accounts are...

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By Michael Schwartz

updated 21 days ago

How do I reconcile bills in Xero?

Sometimes settlements are sent to Xero with fees and costs being higher than the revenue (negative settlements). This usually occurs when the settlements span more than one month, and split settlements are turned on in your settings. When this...

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By Michael Schwartz

updated 21 days ago

How do I delete a sales invoice after sending to Xero?

After you send a settlement to Xero taxomate allows you to remove the sales invoice within the app. OPTION 1. Invoice Not Reconciled with Deposit in Xero STEP 1 .  To get started, go to the  Settlements  page. STEP 2 .  Select the settlement you...

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By Michael Schwartz

updated 21 days ago

How do I create a new invoice customer for Xero?

You can create an invoice customer from within taxomate. To create a new customer head over to  Settings > Connections   or the payments tab in Quick Setup. Select the invoice customer dropdown and then  Create New . You can choose any name you...

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By Michael Schwartz

updated 21 days ago

Amazon

Can taxomate convert a foreign Amazon marketplace currency to my home currency in Xero?

Please Note: To use multicurrency in Xero you must have an Established/Business Edition Pricing Plan. All settlements are imported into taxomate and sent to Xero in the currency of the country marketplace (unless the marketplace customer is...

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By Michael Schwartz

updated 21 days ago

How to use Xero Tracking for Amazon Transaction Types

taxomate integrates with Xero's Tracking Categories so you can track by Amazon transaction type. Xero tracking for Amazon transaction types will only work when Group Sales By: Orders (list all orders)  is selected in Settings > Invoice. It will...

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By Michael Schwartz

updated 17 days ago

How to use Xero Tracking for Amazon Marketplaces

taxomate integrates with Xero's Tracking Categories. This is helpful if you want to separately track your transactions for each Amazon country marketplace and run Profit and Loss reports by marketplace. STEP 1: Setup Tracking Categories Click ...

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By Michael Schwartz

updated 17 days ago