Clearing Account & Reconciling Payments

Clearing Account & Reconciling Payments


Clearing Account & Reconciling Payments

This is leaning more towards the accounting side of things. To avoid confusion or to help you understand a bit more we recommend working through this with your accountant/bookkeeper or a friend who is “pretty good at that accounting sort of stuff”. 

eXconnect marks Xero invoices as being paid once a payment has been processed, not when it is deposited into your bank account. This doesn’t impact the money you are being paid or received; however it can cause problems with how invoices are reconciled in your Xero account. 

To avoid this causing problems, it is a good idea (and good accounting practice) to create a clearing account in Xero.



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