Bank Account Mapping

Bank Account Mapping

Bank Account Mapping is available with the Accelerate and Custom Package, and can be added in Standard Package as an optional feature .
If the Bank Account Mapping option is not selected we convert the Bank Account type chart of accounts based on the account type in the source file - for example:
  1. Bank Account, Credit Card, Paypal - Will be set up as such in Xero
  2. Current Asset/Liability - Will be setup as Current Asset/Liabilities in Xero
Therefore please ensure that the Account Type is correct in the source file prior to uploading. 
AUSTRALIA & NEW ZEALAND - VERY IMPORTANT: Even if the Account Type is correct in the source, individual banks have different requirements to enable bank feeds. For example, some banks require ‘credit cards' to be set up as ‘bank accounts' in order to connect bank feeds. Review Xero’s Support website for your banks requirements  - when searching type "Direct Feeds "Your Bank Name" Xero"

If clearing accounts have been used in the source file, it is unlikely that these will be required moving forwards unless when converting these have a balance. The account type is normally Bank Account in the source file, therefore you may wish to change these to Current Asset/Liability accounts prior to upload to prevent them from appearing on the dashboard.

Bank Account Mapping

If bank accounts are mapped as current asset or liability accounts, we’re unable to complete quality assurance on the bank reconciliation reports for these accounts prior to delivery, meaning no transactions will be reconciled. In Xero, you also won’t be able to reconcile these accounts moving forward as you cannot perform bank reconciliations on accounts that are not bank/credit card accounts.

The link between payment and contacts will be lost for these transactions in this account as manual journals will be used for transactions instead of spend and receive monies. In Xero, manual journals do not include contact fields. 
Notes
Please be advised -If bank mapping is not completed within a 48 hour timeframe we will complete on your behalf in line with the source file setup.

Can I Change Account Types Myself in Xero?

Should you choose a conversion service that does not include the option to modify bank account types you can do so in Xero afterwards however not to the chart of account that was conve.
It is not a simple process so we have written a blog post with more details about this.
NOTE: As this information updates periodically we recommend confirming this is still accurate with Xero or for additional information on direct bank feeds please see the Xero Help centre.


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