CloudPayroll® can send General Ledger postings directly into the Xero accounting system
as authorised accounts payable invoices.
Once approved, these can be reconciled to the payments using Xero's Bank Reconciliation.
What is Xero?
Xero is an easy to use but powerful online accounting system that's designed specifically for small businesses.
Xero provides a view of financial information in real-time. There's no need to buy expensive software and install upgrades. Xero is available on your PC or Mac in the office, at home or on popular mobile devices – anywhere, anytime.
Xero automatically imports your bank statements daily so you can keep abreast of your cashflow. Xero has a full suite of accounting features such as invoicing, payables, expense claims, GST, tax returns, reporting and much more.
The beauty of Xero is you can invite a number of trusted people such as your accountants, to collaborate online, eliminating cumbersome transfer of data that can be corrupted or is out-of-date.
To find out more go to www.xero.com where you can try Xero for free.
The CloudPayroll® to Xero Interface
Your GL Postings will be automatically imported into Xero whenever a Payroll is Confirmed.
These authorised Accounts Payable invoices will be created in Xero:-
Nett Pay debited: Gross by cost centre less taxes
Superannuation collected and held in trust
CloudPayroll's Processing Fees
To get the most out of the interface you should set up cost centres in CloudPayroll® that correspond to your Xero General Ledger Account codes.
You can also set up any Xero Tracking codes that you use in CloudPayroll®. Tracking codes are like cost centres and allow your chart of accounts to remain clean with no repeating groups required.
It's a simple, once-only, step to enable the interface from CloudPayroll® into Xero using the Xero Network.