Xero will collect banking data for your clients on a daily basis. This data can then be automatically imported into SF360 and matched against contribution, broker and dividend data to provide you with an updated SMSF portfolio.
Simple Fund 360 will be able to upload the amounts and transaction descriptions from Xero.
Note: The description that uploaded from Xero to Simple Fund 360 is the name that users manually allocate to the transaction in Xero and not the bank statement description.
How to connect SF360 and Xero
|From the Main Toolbar, go to Connect.|
|Select Feed Management from the list.||
Select the Entity Summary tab.
1. Under the Bank Feed section of the Entity Summary tab, select (+) Setup.
Ensure the Account Name, BSB and Bank Account Number details are correct.
2. Under Automated Data Feed, select Xero as the Feed Provider. The Xero Organisation column will appear below.
You will only need to authorise each Xero organisation once. This will be completed the first time you link a fund's bank account to an organisation. For any additional accounts to link to an organisation, you will be able to simply select the organisation from the Xero Organisation column.
3. Select Add New Organisation.
4. Then select Connect to Xero and you will be requested to then log in to Xero.
You will be directed to the Xero Login page.
You only need to do Steps 1 to 4 once (for each organisation) to authorise SF360 access to the Xero Organisation. Next time you connect a bank account to Xero, you can simply select the organisation as seen in step 4 (the authorised organisation will appear in the drop-down list).
Once access has been granted, next time you select Connect to Xero (Step 5), SF360 will automatically connect to Xero and import the transactions into SF360.
5. Once logged in, you will need to authorise and link a Xero organisation to the fund in SF360.
6. After you have selected the Xero organisation, select Authorise.
7. Select Save and you will be taken back to the Bank Feed Management screen.
8. Select the Connect to Xero icon.
9. Input the period for which you wish to import transactions and select Connect to Xero.
10. You can then go to the Smart Matching screen to match the uploaded transactions to the correct accounts.
Edit the bank account in the Feed Management screen and remove Xero as the Feed Provider.
If you are cancelling a Xero Bank Feed you will need to do this through Xero.
Re-authorise a Xero Organisation
If you receive the following error when connecting an existing organisation:
"Access has been revoked to this account from Xero. Please re-authorise the Xero Organisation from the Setup Bank Account Feed screen."
You will need to re-connect the organisation following the steps above. The only difference is under step 4, instead of selecting Add New Organisation, select the existing organisation from the drop down list.