Bank Account Mapping

Bank Account Mapping

Bank Account Mapping is included with the Accelerate and Custom packages. It can be added to the Standard package as an optional feature.

If the Bank Account Mapping option is not selected, we convert the accounts based on the set up in the source file, known as 'default account type'.

Default Account Type Mapping

If bank account mapping is not selected, then default mapping occurs, for example:

• Bank Account, Credit Card, PayPal → Will be set up as such in Xero.

• Current Asset / Current Liability → Will be set up as Current Asset / Current Liability in Xero.

Please ensure the account type is correct in the source file before uploading.

VERY IMPORTANT:  Australia & New Zealand — Bank Feed Requirements
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"

Bank Feeds Available in your country: Australia, New Zealand, United States

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.

Clearing Accounts

If clearing accounts exist in the source file, they are unlikely to be required moving forward unless they have a balance at conversion.

• Clearing accounts are often set as Bank Account in the source file.

• You may wish to change them to Current Asset or Current Liability accounts before upload to prevent them from appearing on the Xero dashboard.

If you change a bank account to an asset or liability account, the link between payments and contacts will be lost as in Xero manual journals cannot be linked to contacts.

Bank Account Mapping & Reconciliation

Due to system differences between accounting packages, if bank accounts are mapped as current asset or liability accounts:

• We cannot perform quality assurance on the bank reconciliation reports for these accounts before delivery.

• No transactions in these accounts will be reconciled. This is because, in Xero, you cannot use the reconciliation function on accounts that are not set up as bank or credit card accounts.

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.

If you choose a conversion service that does not include modifying bank account types, you can change them in Xero afterwards. Changing to or from bank accounts has extra steps for full instructions please see our blog post: How to Change Bank Account Types in Xero.

• Related Articles

• Bank Feeds

  Bank Account Mapping - Bank Account / Credit Card / Paypal / Asset / Liability Any account you want to reconcile in Xero, or receive bank feeds for need to be selected as a bank, credit card or PayPal. Each bank requires the accounts to be set up in ...

• Bank Versus Asset/Liability Accounts

  In Xero if you would like to be able to reconcile an account it needs to be a bank account, you don’t have to have linked bank feeds if not required. As such it is an operational decision whether it is a bank account or an asset/liability account. It ...

• Account Types In Xero

  During the conversion we will import the accounts as per the setup of the source file unless you have elected a package that allows you to change bank accounts during the conversion process or you have over 990 accounts in your chart of accounts. It ...

• Bank Reconciliation Post Conversion

  How to deal with the reconciliation post-conversion can vary depending on how up-to-date the accounting data file was when it was uploaded for conversion. In addition, whether you ordered a history versus balances service will influence when you need ...

• Turning on Chart of Account Numbers

  Turning on account numbers in your source can help you quickly identify the account, streamline selection when entering transactions and customising reports. We recommend developing a consistent naming and numbering convention for chart of account ...