Settlements or payouts are sent to Xero as sales invoices, which you can match 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 2. Review and approve your invoice
You find your invoice under Awaiting Approval. (Taxomate sends invoices as Awaiting approval by default. You can change this in Settings > Invoice, under Xero, with Invoice status: Awaiting approval, Draft, or Awaiting payment.)
We recommend checking the invoice to make sure it looks correct. Once you confirm everything looks correct, click Approve.
Step 3. Find your Amazon, eBay, or Shopify payment
Go to your bank account feed by selecting Accounting and then Bank accounts on the top toolbar. Scroll down and select the bank account that received your Amazon, eBay, or Shopify payment.
Step 4. Match your invoice to the payment
Scroll down and select Reconcile. Find the Amazon bank payment that matches your sales invoices and select Match on the right side.
Find and select the matching Sales Invoices. You may need to search by name (for example, Amazon.com).
⚠️ If a negative settlement (bill) is sent to Xero, you must first approve the bill in Business > Purchase overview > Awaiting Approval. Then check the Show Spent Items box to match both your invoice and bill to the deposit. Click here for more details.
Step 5. Reconcile the invoices
Select both of the matching 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.
If a settlement or payout covers two months, Taxomate can split it into two invoices (one for each month). Change this in Settings > Invoice, under Currency and months, with Split settlements across months.
⚠️ Bank account currency does not match the invoice
If you have a bank account in Xero in a currency that does not match your Amazon, eBay, or Shopify invoices, make sure you un-check Show Currency Items Only on the Find & Match reconcile screen.
If you tried the steps above and your sales invoice is not matched automatically, create a bank rule.