UPDATE - check out our brand new Xero integration here: tide.co/blog/xero-integration 114
What are we releasing?
Our partnership with Xero, which we announced a few months back, has come to fruition in two phases. Phase one launched successfully earlier this year. A big thank you to everyone who helped us test it - your feedback has helped us build something even better. Which brings us to today, and phase two.
We’re delighted to announce an enhanced Xero integration for iOS users. In phase one, as a reminder, we allowed you to link Tide to Xero and automatically sync all your transactions and attachments. With phase two, we go deeper. You’ll be able to map categories from Tide to Xero. And to help you keep on top of your bookkeeping, you’ll also be able to keep your account fully reconciled from Tide.
How does it work?
In order for you to access the new version of the integration, you will need to update your app through Testflight - we’ll be sending instructions out on how to do this.
Then, follow these steps:
- Log in to the Tide app and select the More tab
- Tap the Accountancy software section
- Select Integrate with Xero
You’ll be asked to enter your Xero credentials into a secure log-in screen. This gives Tide permission to share your transaction data with your Xero account.
To begin syncing your transactions with Xero, you will need to connect each of your Tide current accounts to a “bank account” in Xero. And if you don’t already have a Xero “bank account”, you can create one directly from the Tide app. Once your Tide current accounts are connected to your Xero “bank accounts”, Tide will start to share your transaction data with Xero daily.
How does it look in Xero?
In Xero, synced transactions will appear in the “Account transactions” tab. Although this makes it harder for you to reconcile your transactions in Xero than if they were in the “Reconcile” tab, we’ve made it easier to keep the account reconciled from Tide.
Tide will automatically reconcile transactions in Xero if they are (i) cleared, (ii) categorised and (iii) belong to a Tide category that is mapped with a Xero category.
Mapping your Tide and Xero categories ensure that we push your transactions to the right category in Xero, making it easier for you to produce your management reports. You can do this by tapping the “Categories” button and selecting the Xero category dropdown.
If a transaction category in Tide doesn’t map to any Xero category, we will automatically assign the transaction to “General Expenses". The transaction will remain unreconciled until you map the category.
Currently, Xero’s API doesn’t allow us to automatically reconcile transfers between your Tide accounts. You will therefore need to manually reconcile these transfers. You can do this in your Xero dashboard by selecting the account, going on to the “Account transactions” tab and then selecting the unreconciled transaction. Once you’re in the transaction, simply click on the “Options” button and then “Mark as Reconciled”.
We’ve worked hard to make sure your Tide and Xero accounts are connected as well as possible, however there are a few things that don’t work perfectly.
The Tide/Xero integration currently doesn’t allow us to match Tide transactions to invoices raised in Xero (and therefore we can’t mark those invoices as paid). This means that if you manually mark an invoice as paid in Xero, and Tide syncs the transaction, you will have a duplicate transaction in Xero. For the time being, we would suggest manually deleting the synced Tide transaction from Xero. This can be done by selecting the relevant transaction in the “Account transactions” tab and then clicking “Remove and redo”.
We appreciate this isn’t an ideal solution and will be working hard to correct this once we integrate into Xero’s new bank feed API.
We’d love to hear your feedback on this integration and experience. We’ve been focussed on making sure the functionality works well and in the future will focus on improving the user experience. We would therefore love to hear your suggestions on how this could be improved!
If any of your transactions are not syncing the way you expect them to, please get in touch with our Help team via the in-app chat.
The Tide team