After you've completed our Connecting To Xero guide, you'll be greeted with a screen that looks similar to the below.
Any items that have a green traffic light are in good order, but we need to get all the traffic lights green before we can start synchronising your business data with Xero.
Let's go through each item, you can skip over any areas that are already showing a green traffic light.
Your base currency is the primary accounting currency of your business and it is essential that these are set the same on Omono and Xero. It's not possible to change the base currency for either Xero or Omono after you've signed-up, so you may need to register for a new account on whichever system is incorrect.
If your business uses multiple currencies these must be configured in Omono and Xero separately. Omono will not automatically create currencies for you in Xero as it's not possible to remove them once added.
Please note, Xero only allows the use of multiple currencies on their 'Premium' subscription plan. If you intend to use multiple currencies in Omono, you must ensure you Xero account is subscribed to a suitable plan.
You will notice that Omono lists any missing currencies on Xero towards the end of the traffic light line. In this example it appears we are only missing the Australian Dollar (AUD):
You will need to add any currencies shown to Xero, if you are unsure how to do this, please refer to the Xero Help Centre guide here - Add a foreign currency in Xero
Once you have added the missing currencies to Xero, head back to Omono, then click the 'Re-Run Status Checks' menu item. After a few seconds the traffic light for this item should turn green.
Financial Year End Dates
It's important that your financial year end date is correct and matches in Omono and Xero, this will ensure reports are accurate and aligned across both systems.
If you need to change your financial year end date in Xero, please refer to the Xero Help Centre guide here - Set up your organisation's financial settings
Once you have aligned your dates in both systems, click the 'Re-Run Status Checks' menu item. After a few seconds the traffic light for this item should turn green.
Revenue / Expenses Account Mappings
Omono uses Sales and Purchase Analysis Codes to categorise your stock and line items. These must be mapped to your chart of accounts in Xero.
You can either map each analysis code to an existing chart of account in Xero or Omono can automatically create a new chart of account for you using the name of the analysis code. Omono will automatically generate the account code number with best endeavours to keep it close to other accounts within the same account type/classification.
We'll go through mapping the revenue accounts in this example, but the process is essentially the same for the expenses account, so you'll need to repeat these steps for both.
On the Omono Integration for Xero page, hover over the 'Integration Settings' menu item and click 'Revenue Accounts Mapping' or 'Expense Accounts Mapping' as appropriate.
The following modal window will appear displaying a list of your analysis codes.
Work through the list choosing the appropriate Xero account from the drop down list.
We attempt to choose some sensible defaults for you based on the following logic:
- If an account already exists in Xero with exactly the same name as the analysis code in Omono, it will be automatically selected.
- For Revenue Mapping: Any others will default to 'Sales' (but only if an account with this name exists in Xero)
- For Expenses Mapping: Any others will default to 'Cost of Goods Sold' (but only if an account with this name exists in Xero)
If you would like Omono to automatically create a new chart of account in Xero using the same name as the analysis code, simply select the relevant 'Account Type' listed towards the bottom of the dropdown located underneath the 'Create a New Account in Xero' header (as shown below).
Once you have mapped all analysis codes, click the white tick at the top right to save.
Remember to repeat the above for the expense accounts mappings!
Once you arrive back at the integration status checks, things should be looking much greener now!
The final stage, let's get your tax rates mapped!
Please note, Omono will not create tax rates in Xero for you. Please check with Xero's Help Centre regarding how tax in Xero works for your region.
Also bear in mind that Omono does not currently support tax components or compound/stacked taxes, therefore it may not be suitable for certain tax jurisdictions.
On the Omono Integration for Xero page, hover over the 'Integration Settings' menu item and click 'Tax Rates Mapping'.
The following modal window will appear displaying a list of your tax rates.
Work through the list choosing the appropriate tax rates from the drop down lists.
In order to ensure the appropriate type of tax is chosen, the revenue tax rates list will only include tax rates that can be applied on sources of income. Likewise, the expenses list will only show those that can be used for outgoings.
You will also need to map the 'VAT Exempt' tax rate (which is a system defined rate). This is used specifically for stock items that have been designated as VAT exempt within Omono's stock module.
Once you have finished, click the white tick at the top right to save. Hopefully the status checks should be all green, which means your setup is complete and your business data can be synced to Xero.
We recommend you check out our guide on Monitoring Your Xero Sync next.
If you need any assistance with getting your Xero integration working - don't hesitate to get in touch with our support team via the online chat or by emailing [email protected]