After granting access to connect Xero to Innovo Xpense, to complete the integration the following configurations need to be carried out.
- General Settings
- Linking Expense Accounts
- Linking of Balance Sheet Accounts
To access these configurations in the Admin Console menu, click on Management Actions which will reveal a list on management actions that you can carry out.
Click on the Manage Accounts menu item and this will bring you to the Manage Accounts page.
General Settings drives the bookings that Innovo Xpense will be generate into Xero.
There are 4 configurable general setting features.
Book expense: Selecting "Book Expense" will generate bookings for each approved expense. For cash claims, the bookings generated will be credit expense account and debit liability accounts. For credit card expenses, the bookings generated are credit expense account and debit bank account.
Equalize Claim: Selecting "Equalize Claim" generates bookings once the transaction in the Pending Reimbursement section are processed. The transactions in the Pending Reimbursement section are expenses that where borne by employees, and thus for which the employees need to be compensated. The amount to be paid to the employees is booked as a credit on the liability account and debit on the bank account. Details about the Reimbursement process can be found in the document describing the Management of Transactions.
Verify Transactions: Selecting "Verify Transactions" will stop all transactions for further verification before being booked into Xero. More details can be found in the Verify Transaction section of this document.
Book GST: Selecting Book GST will include GST amounts into bookings where applicable. Selecting this will automatically assume GST is applicable for all accounts. To exclude an account from GST select the No GST option for the corresponding account.
The General Settings can be found at the bottom right of the Manage Accounts page. Depending on the needs of your organisation, each of the settings can be activated by checking the corresponding check boxes.
Linking Expense Accounts
Innovo Xpense comes with a default list of expense categories which can be mapped to the standard accounts found in Xero.
To link expense categories in Innovo Xpense to expense accounts on Xero, in the Link Expense Accounts section found in the Manage Accounts page, corresponding entries can be selected. The selected entries can be linked by clicking the "Link" button.
If the default list of expense categories does not cover your organisation's requirements and custom expense categories are required, they can be created easily. Refer to the article on Setting up Custom Expense Categories for further details.
The linked expense categories and accounts will then appear on the right of the Manage Accounts Page. Removing a linked category and account can be done by clicking on the corresponding "Remove" button.
Linking of Balance Sheet Accounts
Linking of Balance Sheet Accounts , is the mapping of the bank and liability accounts found in Xero.
Bank Account: The bank account is the account from which payment will be made for expenses. This most probably will be the company’s bank account. This account can be selected from all available accounts in Xero.
Expense Claim Liability Account: The liability account stores all claims which have yet to be paid. This account can be selected from all available accounts in Xero.
To link bank and liability account, in the Link Balance Sheet Accounts section found in the Manage Accounts page, select the corresponding entries. The selected entries can be linked by clicking the "Link" button.