Xero Summary Sync allows you to sync your financial data in summary format directly with Xero. This integration offers a streamlined solution for managing high-level financial data. It consolidates transactions into a summarized form and only requires maintaining general ledger accounts, without including individual Customers or transactions.
Note: CoreBridge can help with integration setup and how the integration works within the system. Questions about the third-party service itself should be directed to that provider.
Table of Contents
- Benefits of Integrating with Xero Summary Sync
- How to Integrate with Xero Summary Sync
- Activating Xero Summary Sync
- Using Xero Summary Sync After Setup
- Related Articles
Benefits of Integrating with Xero Summary Sync
Xero Summary Sync offers several advantages for businesses that want a streamlined view of their finances without tracking every transaction in detail.
- Streamlined Data Management: Syncs financial data in summary format, offering a high-level view of financial performance without individual transaction details.
- Fast and Efficient: Consolidates data to reduce storage needs and streamline bookkeeping processes.
- Sync Flexibility: Configure Reconciliation Sync as manual or automatic, and set notification preferences for sync failures.
- Customizable Sync Options: Includes settings for syncing balances for pre-invoiced Orders and component consumption costs.
- Location Mapping: Map CoreBridge Locations to Xero Tracking Categories for more detailed reporting.
How to Integrate with Xero Summary Sync
Connect Xero Summary Sync to your CoreBridge system from the Integrations Marketplace, then configure your sync preferences directly on the integration page.
Navigate to System Settings / My Business / Integrations Marketplace.
1. Select the Finance category.
Note: You can also find Xero Summary Sync using All Categories or the search bar.
2. Select the Xero Summary Sync integration.
3. Select Install.
4. Choose whether all of your Locations sync to a single Xero organization, or whether each CoreBridge Location syncs to its own organization in Xero.
5. Under Xero Account Details, select Connect to Xero.
Note: This opens a window that prompts you to sign in to your Xero account. Follow the prompts to finish connecting.
Once connected, you can set your Xero options at any time directly on this same integration page.
6. Under Configuration, use the Reconciliation Sync dropdown to choose Automatic with Reconciliation or Manual. For more information, please see Automatic Reconciliation and Sync.
Note: It's recommended to complete the first sync manually to confirm your mapping is correct. After the first sync completes successfully, you can switch to Automatic.
Note: When Automatic is selected, you will see an option to select your start date.
7. Use the Select Roles dropdown to choose which Employee Roles should be notified by email if a sync failure occurs.
8. Under Sync Options, choose any of the following:
a. Sync Balances for Pre-Invoiced Orders Statuses - Pre-Invoiced Order statuses include Order, Pre-WIP, Built, Invoicing, and Production Deliverables.
b. Sync Balances for Component Consumption Costs - Component Consumption Cost is the cost of the individual parts used to create a finished product.
Note: Some options may look different depending on your number of Locations and the sync settings you chose in step 4.
To ensure Location Mapping works properly, a Tracking Category must first be created directly in the Xero website. This setup is completed in Xero, not in CoreBridge.
In Xero, navigate to Accounting / Accounting Settings / Tracking Categories. Click Add Tracking Category, then enter CB Location as the Tracking Category name.
9. Select Edit Location Mapping to open the mapping window.
10. Use the dropdown to select the Xero Tracking Category option for each Location.
Note: If you select Add as new on sync, Xero adds your Location after the next sync. If the CB Location Tracking Category doesn't exist yet in Xero, you'll see an error message.
11. Select Save & Sync Now.
Note: Syncing immediately lets you know right away if there are any issues.
12. Select Edit Account Mapping to choose which Xero accounts correspond to your CoreBridge accounts. Account Mapping is critical for accurate syncs and reconciliations.
Note: It's recommended to manually select all of your accounts from your accounting software to ensure correct mapping. Reserve Add as new on sync for accounts that are specific to CoreBridge, such as Orders in Pre-WIP.
13. Use the dropdown to select your Xero Accounts.
14. Select Save & Sync Now.
Note: Syncing immediately lets you know right away if there are any issues.
Note: Changes must be saved manually by selecting Save at the bottom of the screen.
Integration Status After Setup
After you select Install and complete Connect to Xero, Xero Summary Sync typically displays as Installed and Online. Configuration is available from this same screen.
Note: Until Connect to Xero is complete, the integration may display as In Configuration, and the Configuration fields remain unavailable.
Note: Only one accounting software integration can be active at a time in CoreBridge.
Set Active is not required as part of a normal first-time setup. After Install and Connect to Xero are complete, the integration should already display as Online.
If the Xero integration later displays as Not Enabled, Set Active can be used to make Xero the active accounting integration.
1. From the Xero Summary Sync screen, click the More Actions menu.
2. Select Set Active.
Note: When the integration is already Online, More Actions includes Set Inactive and Uninstall instead of Set Active.
Using Xero Summary Sync After Setup
After you connect Xero and configure your sync preferences, use Xero Summary Sync from the reconciliation area in CoreBridge.
Navigate to Accounting / Reconciliation & Sync.
Manually Sync from the Reconciliation List
You can sync a reconciliation directly from the Reconciliations list without opening the detail view.
Note: To sync manually, Manual must be selected in your integration settings. See step 6 in How to Integrate with Xero Summary Sync.
1. Select Sync Now in the Status column for the reconciliation you want to sync.
Manually Sync from the Reconciliation Detail View
You can also review a reconciliation in detail before syncing it to Xero.
1. Select the row of the reconciliation you want to view.
2. Select Sync Now in the top right corner of the detail view.
Note: The Sync Now option is available regardless of which tab you're viewing in the detail view.
Reconciliation Detail Tabs
Use these tabs in the reconciliation detail view to review information before or after syncing.
Payment Summary tab:
a. Clicking on any of the Payment Transactions hyperlinks will open a dialog with more detailed information.
Payment and Refunds tab:
Overview of all Payments and Refunds during the reconciliation period.
Financial Summary tab:
Overview of money coming in and going out for the reconciliation period.
Note: When a reconciliation syncs successfully with Xero Summary Sync, the Status shows as Synced. If there's an issue with the sync, the Status shows as Not Synced so you can review and resync.
Note: The final result in your Xero Summary Sync software is a journal entry. If the total amount is too large for a single entry, you can divide it into smaller amounts that correspond with the entries in the Payments and Refunds tab.
Related Articles
Automatic Reconciliation and Sync