Yoco integrates with Xero in a few easy steps. Before you begin the Yoco integration, please make sure the following has been completed:
- Create a Xero Account
- Set up your Yoco Payments Account on Xero’s side and enable payments to this account.
IMPORTANT: The Payments Account is a Chart Account. We strongly recommend that you select the Account Type as Current Asset, and not Bank Account, as this will create a double credit issue.
Once this has been set up, follow these steps:
- Log into the Business Portal, select Business Settings, and then Integrations. Select Connect to Xero.
- Then Sign in to XERO.
- Select your organisation from the drop-down, Allow Access and Authorise the integration.
- Select Next.
- Select Next again.
- Add the Card Transactions Account details from the drop-down. New account name suggestion: Yoco - card transactions.
IMPORTANT: The options that appear will be revenue accounts. We recommend that you create a new account and specify a VAT RATE. Our recommendation would be No VAT (0.00%). Please note that you may need to create this tax rate if it does not already exist in your Xero account. You can also change the Account code - please ensure that this code is unique. The system will check if this account code has been used against any other accounts.
- Add the Cash Transactions Account details (optional if you’d like to track cash payments). Follow the same process as adding the Card Transactions Account.
- Add the Fee Transactions Account details. The options that will appear are expense accounts.
- Set up the Tips Account details.
- Select the Payments Account that you've set up from the drop-down.
- Select Next and your integration is complete!