HOW OUR XERO INTEGRATION WORKS
Veeqo pushes orders from Veeqo into Xero as sales invoices. Orders from Shopify, WooCommerce, Magento, eBay and Amazon can be easily imported.
Set cost prices in Veeqo for your products and every time an order is exported, we will create a journal in Xero to decrease your stock value and put into your COGS on your profit & loss in Xero. So you get accurate profits showing in Xero.
Create a Purchase Order to your supplier and we will create a supplier invoice in Xero.
We do not push Shipping & Handling column data from Purchase Order CSV file to Xero
Map which accounts in Xero we should export your data into, we pull these from your Xero account.
Refunded orders do not update the order in Xero
We do not update stock quantity in Xero.
BEFORE CONNECTING XERO
Add Advisor Option - so you can view COGS journals and approve
Add Stock on Hand Account - this is where we will add new stock value for PO’s raised in Veeqo
Set Starting Balance - this is the starting value of current stock in Warehouse. We will add/subtract from this as PO’s/Sales Invoices are raised
We do not sync any actual Product Data or create line items - we only sync monetary values.
Veeqo should be your Product Information Hub
SALES INVOICES
Veeqo will send across any new sales invoices raised since the last sync. These will be sent either as a draft invoice (in which case client needs to authorise in Xero) or as an authorised invoice immediately depending on the settings
We will raise an invoice against the existing Xero contact if it exists or will create a new contact where necessary.
We will raise a Sales Invoice and automatically mark the order as paid providing you have set up a bank account with a code and set the preferences in Veeqo
Veeqo's integration with Xero will import your COGS into Xero, so you can see your gross profit in Xero for everything you've sold.
This is done by creating a journal for every sales invoice that's imported into Xero. This credits your "Stock on Hand" account and debits the "COGS" account.
This means we move cost of what you paid for an item from your stock account and put this amount into your profit and loss account.
You must post the Manual Journals once they have reached Xero