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Reconciling in Xero

Video Demonstration on reconciling in Xero.

When you reconcile payments in Xero, invoices in Elixir are automatically updated as Paid. This means you only need to reconcile your bank accounts in one place. Below, we will go over times when you may need to reconcile invoices in Xero.

Eftpos Payments

You can reconcile Eftpos payments by following these steps.

Prerequisites

  1. Ensure your Elixir Xero account settings are correct. Go to Admin > Xero Account. In the Elixir Payment Account dropdown, select the bank account into which your EFTPOS payments will be settled. Xero Payment Accounts
  2. Mark all payments made via EFTPOS during the day as paid. You can do this after creating an invoice in a patient's file by clicking the “Mark as Paid” button. Mark invoice as paid

Reconciling in Xero

When the Eftpos payment comes into your bank account, this needs to be reconciled. To reconcile this payment to the invoices you marked as paid in Elixir, follow the steps below:

  1. Navigate to the Dashboard in Xero and click Reconcile x items Dashboard in Xero
  2. Find the Eftpos payment in the list of items to be reconciled
  3. Click Find and Match Find and Match
  4. In the Search by name or reference field, type in Payment. This will bring up all invoices that have been marked as paid in Elixir
  5. You can sort these by date to make it easier to find the date you are looking for
  6. Select all payments made for the day that the Eftpos payment is for Select all payments
  7. When your totals match, you can click the reconcile button. Click the Reconcile Button

Third Party Payments

When you receive a third-party remittance, you can reconcile it against the bank account transaction in Xero. When you reconcile these payments, the invoices will be marked as paid in Elixir.

For this example, we are going to use a Southern Cross Insurance payment.

Prerequisites

  1. When creating an invoice, ensure your Southern Cross Insurance billing contact is selected in the “billed to” section. This will create the invoice "To" Southern Cross. Third Party Invoicing
  2. When submitting a claim to Southern Cross, make sure you include the invoice number when it comes time to request a payment (clicking on the green $ symbol). This will result in the invoice number appearing on your remittance, making it easier to complete your remittance. Southern Cross Portal Invoice

Reconciling in Xero

  1. In Xero, navigate to the Dashboard in Xero and click Reconcile x items
  2. Find the Southern Cross payment that matches the total on your schedule
  3. Click Find and Match
  4. In the Search by name or reference field, you can type “Southern Cross” or the name of your billing contact in Elixir. This will bring up all invoices billed to that contact
  5. Have your Southern Cross schedule handy. Match the invoices on your schedule to the ones on the list. You can sort these by date to make it easier to find the date you are looking for

Reconcile in Xero 6. When your totals match, click Reconcile

This process can be used for any third-party remittance sent to you.