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Step 5 (Xero): How to Reconcile Invoices with Bank Payments
Step 5 (Xero): How to Reconcile Invoices with Bank Payments

Reconciling your Amazon, eBay, Walmart, Etsy, or Shopify Bank Payments with your exported Sales Invoices in Xero.

Updated over a week ago

Settlements or payouts are imported to Xero as Sales Invoices, which can be matched up against your bank payments from Amazon, eBay, Walmart, Etsy, or Shopify.

STEP 1. Find Your Invoice in Xero

On the top toolbar in Xero, select Business and then Invoices.

STEP 3. Review and Approve Your Invoice

You should come across your Invoice in Awaiting Approval.

We recommend checking the Invoice to make sure it looks correct. Once you confirm everything looks correct click Approve.

STEP 4. Find your Amazon, ebay, or Shopify Payment

Head over to your bank account feed by selecting Accounting and then Bank accounts on the top toolbar. Scroll down and select the correct bank account with your Amazon, eBay, or Shopify payment.

STEP 5. Match Your Invoice to the Payment

Scroll down and select Reconcile. Find the Amazon bank payment matching your Sales Invoices and select Match on the right side.

Find and select the corresponding Sales Invoices. You may need to search by name (e.g.,

⚠️ ⚠️ If a negative settlement (bill) is sent to Xero, you must first approve the bill in Business > Purchase overview > Awaiting Approval. Then check off the Show Spent Items box to match both your invoice and bill to the deposit. Click here for more details.

STEP 6. Reconcile Invoices

As shown above, we select both of the corresponding invoices, which turns the amount green. Scroll to the bottom and select Reconcile to mark the invoices as paid and reconcile them with your bank deposit.

In the example above, if a settlement or payout period is between two months, then you can have Taxomate automatically split the settlement into two invoices (one for each month). You can change this setting in Settings > Invoice.

⚠️ Bank Account Currency Does Not Match Invoice

If you have a bank account in Xero in a currency that does not match your Amazon, eBay, or Shopify invoices, then please ensure that you've unchecked the Show Currency Items Only option in the Find & Match reconcile screen.

If you tried the above and your sales invoice is not automatically matched, please create a bank rule.

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