Contents

1. How Taxlab + Xero integrate
2. Getting started
3. Video tutorial
4. Assign accounts to the Balance Sheet and Income Statement
5. Update accounts (import an updated trial balance)
6. Disconnect from Xero
7. FAQ

1. How Taxlab + Xero integrate

There is no complicated integration process – you simultaneously connect to the Xero organisation the first time you import a trial balance. The data flows one way, from Xero into Taxlab. As there is no automatic sync process, you can control when the data is updated in Taxlab.

2. Getting started

You can import a full trial balance from Xero at any time.

• In Taxlab, open the entity’s income tax calculation.
• Click the Workpapers tab > Accounts.
• On the Trial balance page, click the Import arrow > Import from Xero.

On the Import from Xero window

• Optional: Edit the default balance date.
  
• Optional: Select the Import Reporting Codes check box. If you select this option, the system will import the reporting codes from Xero, automatically assign the accounts and complete the IR10. If you do not select this option, you will need to assign the accounts manually. Under both scenarios, once the account assignment has been made in year one, it will automatically roll over into year two.
• Optional: Clear the Clean import check box. This option is selected by default, which means the system zeros out all of the accounts before importing them.
• Click the Connect and Import button.

In Xero:

• Log in to your Xero account.
• Select the organisation you want to connect to.
• Click Allow access.

If the import is successful, a message displays in a green banner informing you of the number of records that were imported. Click the Close button .

3. Video tutorial

Watch this video to see the process in action…

4. Assign accounts to the Balance Sheet and Income Statement

If you have imported a trial balance from Xero you do NOT need to do this task, as the system automatically assigns the accounts for you.

5. Update accounts (import an updated trial balance)

You can import an updated trial balance from Xero. You may want to do this if there are changes to the trial balance source data, for example at the year end when new figures become available. In effect, you are re-importing the trial balance and the process is very similar to how you imported the trial balance for the first time.

When you re-import the trial balance, the system goes through the accounts to see if they already exist. Where an account does exist already, the system will just update the amount. If an account does not already exist, the system will add it to the trial balance.

When you update the balances in Xero, the balances do not automatically update in Taxlab on a real time basis. You need to trigger the trial balance from Taxlab:

1. On the Trial balance page, click the Import arrow > Import from Xero.
2. On the Import from Xero window:

• Optional: Edit the default balance date.
• Optional: Select the Import Reporting Codes check box. If you select this option the system will import the reporting code from Xero, and automatically assign the accounts. If you do not select this option, you will need to assign the accounts manually. Under both scenarios, once the account assignment has been made in year one, it will automatically roll over into year two.
• Optional: Clear the Clean import check box. This option is selected by default, which means the system zero’s out all of the accounts before importing them.
• Click the Import to [tax year] button.

If the import is successful, a message displays in a green banner informing you of the number of records that were imported. Click the Close button to close the message.

6. Disconnect from Xero

1. In Taxlab, open the entity’s income tax calculation.
2. Click the Workpapers tab > Accounts.
3. On the Trial balance page, click the Import arrow > Import from Xero.
4. On the Import from Xero window, click the Disconnect button.

A message displays in a yellow banner informing you that you were successfully disconnected. Click the Close button to close the message.

7. FAQ