Configuring Xero GL Accounts

This article will explain which accounts to create in Xero to match the data from Oolio POS, including examples of how to set these up.

Updated over a week ago

Summary

The Oolio POS - Xero Integration set up relies on Xero having the desired GL accounts pre configured so that the sales and takings can be imported. In Oolio POS the sales can then be 'Mapped' to these GL accounts.

Included are some descriptions and explanations of what needs to be created so that the bookkeeper or accountant can make sure that the desired GL accounts are set up in Xero prior to the integration.

*The integration can not use GL accounts that are 'Header' accounts or 'Locked' accounts such as a bank account.

*Xero will create one export file per shift, however both exports rely on the same configuration so they will always go into the same Xero account.

This guide provides examples of how to set up the GL accounts in Xero and explanations of what information can be mapped to them, however these accounts should always be confirmed with a qualified bookkeeper or accountant.


Sales Account Set Up

Some customers prefer the sales to be exported into separate food and beverage GL accounts in Xero instead of just one sales account, and this can be achieved mapping Reporting Groups separately.

If Reporting Groups are already assigned to products in the Oolio POS, they can be viewed inside the integration settings to map them to their respective sales GL accounts.

Below are some example account set ups.

Food SALES Account

Account type

Revenue Account

Name

POS Sales Food

Description

Food Sales data from the Oolio POS

Tax

GST on Income

Payments

Enable payments to this account

Beverage SALES Account

Account type

Revenue Account

Name

POS Sales Beverage

Description

Beverage Sales data from the Oolio POS

Tax

GST on Income

Payments

Enable payments to this account


Payment SURCHARGES Account

Whilst normal discounts and surcharges are included in the sales figures above, payment type surcharges are exported separately to Xero and can either be mapped to the sales revenue GL account or alternatively they can be posted to a separate GL account as described below.

Account type

Revenue

Name

POS Payment Type Surcharges

Description

Surcharges on Payment Types from the Oolio POS

Tax

GST on Income

Payments

Enable payments to this account


Takings Accounts

These clearing GL accounts are used so that takings can be reconciled against the actual funds that are deposited into the bank account(s).

*Payments can not be mapped to a bank account or a locked account.

Below are some example account set ups.

Cash TAKINGS Account

Account type

Current Asset

Name

POS Cash Clearing Account

Description

Cash takings from Oolio POS

Tax

BAS Excluded

Payments

Enable payments to this account

Card TAKINGS Account

Account type

Current Asset

Name

POS Card Clearing Account

Description

Card takings from Oolio POS

Tax

BAS excluded

Payments

Enable payments to this account

Online TAKINGS Account

Account type

Current Asset

Name

POS Online Payments Clearing Account

Description

Online takings from Oolio POS

Tax

BAS excluded

Payments

Enable payments to this account

Other Clearing Accounts

Variance Account

The variance GL account is used to record any takings variances when closing a shift in the Oolio POS so that the total takings can be balanced against the funds deposited into the bank account.

Account type

Current Liability

Name

POS Variance Account

Description

Reconciliation variances from the Oolio POS

Tax

BAS Excluded

Payments

Enable payments to this account


Cash Rounding Account

This GL account records any rounding that has occurred for cash sales in the Oolio POS.

Account type

Current Liability

Name

POS Cash Rounding Account

Description

Cash rounding adjustments in the Oolio POS

Tax

BAS excluded

Payments

Enable payments to this account

Money In/Money Out Account

Money In/Money Out is a feature in the Oolio POS that allows venues to manage and record cash movement within a venue that is outside of normal payment types, such as petty cash, float in/out and tip payouts. This GL account is a balancing account, meaning that the information is not sent individually, but negative and positive activity are grouped and then posted to the invoice as two line items.

Account type

Expense

Name

POS Money In/Money Out Account

Description

A balance account to record manual cash movements in Oolio POS

Tax

BAS excluded

Payments

Enable payments on this account

Tip Account

This GL account records the tips that have been added to transactions in the Oolio POS.

Account type

Current Liability

Name

POS Tips Account

Description

Tips received from the Oolio POS

Tax

BAS excluded

Payments

Enable payments to this account


Did this answer your question?