Changing the Item or the Account for any of the options in Settings, changes the relationship with how Commerce Sync transfers to Xero.
|Receivables||Denotes that Commerce Sync uses the default Xero Accounts Receivable (code 120) to track outstanding balances against sales Invoices.|
|Sales Income Account||
|Default clearing (asset) accounts used to track payments by tender type (Credit Card, Cash, Check and Other). Learn more.|
|Customer||Default customer entry used for sales transferred to Xero.|
|Sales Tax||Allows you to decide whether you wish to track tax information on sales transferred to Xero.|
|Tips||Similar to Sales and Discounts, Commerce Sync provides the ability to track your tips in a third Income OR Liability Account.|
|Discounts||Negative revenue from discounts on (again, taxable or non-taxable) products and services are tracked in this separate Sales Account.|
|Refunds||Negative revenue from credits, returns and refunds applicable to previous sales of products and services are tracked in this separate Income Account.|
|Settlement-Related (Square & Stripe Only)|
|Bank Account||Settlement amount net processing fees and uncategorized income / expense is tracked in a dedicated Bank Account.|
|Merchant Fees||Fees for credit card processing tracked using a dedicated Expense Account.|
|Uncategorized Income||Any other income associated with settlement activity is tracked using a separate Income Account.|
|Uncategorized Expenses||Any other expense associated with settlement activity, such as a chargeback or capital withholding, is tracked using a separate Expense Account.|
Updating Settings: making the change!
Access your Settings by opening Commerce Sync from your point of sale account (Clover, Stripe, etc.) and click "View" under Settings.
Once you have selected options from the drop-downs in Settings, you can take two actions from the bottom of the page:
- "Cancel" discards any changes made and returns to the Dashboard.
- "Save" updates your profile with any changes made. All changes take effect starting with the transfer on the following day.
Note: Not all settings are available for all Commerce Sync accounts, because not all settings apply to all the POS systems- you will see one set of settings, depending on whether you use Clover or Stripe.