Bill.com is a cloud-based application featuring accounts receivables and accounts payable services.
Bill.com has partnered with Xero to provide business owners with a remarkable experience to reduce the stress of managing invoices, and ensuring their business operates efficiently.
The following will provide new users of Bill.com with some easy steps to connect Bill.com to Xero.
In order to connect, or sync, Bill.com to Xero, you must first setup your Xero account.
- Create a “Bill.com Money In” and “Bill.com Money Out” account within your Chart of Accounts. These accounts are made to assist in the bank reconciliation process for any payments received or created via Bill.com.
- Click Settings > Add Bank Account > Fill in appropriate fields
- Create Xero Tracking options which help owners create more detailed reports.
- Click Settings > Tracking > Add Tracking Category
- Enter “Department” under “Tracking category name” (Department can be used for A/R and A/P invoices.)
- If desired, repeat Step A-B to create Locations for greater detail on A/P invoices only. For step B, substitute “Department” for “Location” under “Tracking category name”.
- Hover over the and click “Overview”
- Click “Setup” under the Sync section
- Click “Connect” and sign in or create an OneSaas account
- Click “Sign In to Xero”
- Select your Xero account and click “Authorize”
- Click “Next”
- Bill.com Properties: enter Bill.com “Starting Date”. This is important because Bill.com will start syncing invoices into Xero on this date.
- Bill.com Contacts: select “Create only Contacts that have invoices”. This will prevent all of your Xero contacts from being pushed into Bill.com. If this is left unselected, all Xero Contacts will push over to Bill.com and require you to classify each as either a Customer or Vendor.
- Bill.com Properties: select the appropriate Bill Statuses to have synced into Xero.
- Pull Payments: from thedropdown menus, select the appropriateXero account.
- If fields are left blank and the account is used in Bill.com, the payment won’t sync to Xero.
- Tax Codes: enter appropriate tax codes.
- Xero: Contact Properties: select whether or not Customers/Vendors will be created as Contacts in Xero with an invoice or not.
- Xero: Accounts Receivable & Payable: select appropriate invoice statuses to have bills and invoices synced toXero.
- Note: Best practice is to leave the “Paid” field unchecked. If checked, Paid bills and invoices from Xero will sync to Bill.com as “Unpaid”.
- Check Sales box to move Receivable invoices from Xero into Bill.com
- Check Purchases box to move Payable invoices from Xero into Bill.com
- Xero: Accounts Receivable & Payable: Select how invoices should be authorized in Xero from Bill.com
These steps are meant to assist new business owners connect Bill.com to Xero. These steps should help make the process easy; however, if further assistance is needed, both Bill.com and Xero have Help services to assist business owners.