XERO Integration - Mapping Rent Book charges of type OTHER to custom chart of accounts

XERO Integration - Mapping Rent Book charges of type OTHER to custom chart of accounts

Currently this is not supported through the platform. The only work around is for the client to manually do this with £0 balance invoices to move money from one chart of account to another. See the guide below.

Preparation

  • Create a suspense/clearing account just for this purpose
  • Pull the latest chart of accounts into the XERO synchronisation
  • Map them under Chart of Accounts mapping for rent book item OTHER

For each invoice

STEP 1 - Find the invoice in XERO (the one COHO created to your generic OTHER chart of account), you want to allocate and copy it.



STEP 2 - You will need to duplicate the line item on the invoice and make the initial one a negative number (so you are taking money out of the suspense account).



STEP 3 - Approve this invoice confirming a £0 balance (aka, no payment is expected on a bank account for this invoice)



STEP 4 - Review your profit & loss to see the money moved to the correct chart of account.


    • Related Articles

    • Payment disbursements / Bulk payment disbursements using COHO with the XERO integration

      Crezco integrates with Xero and is an open banking payment solution for online payments up to £1,000,000. Crezco initiates domestic and international bank-to-bank transfers seamlessly and securely. Funds arrive in seconds, and payments instantly ...

    • Rents → Reversing a settled rent due charge

      So you have a rent charge (or “other” charge) on a tenant’s rent book (rent collection panel) and you have disbursed the money related to this to the property owner (or to your organisation) and possibly also disbursed management fees. All of these ...

    • Rents > How to issue a refund for an overpayment

      This guide is based on a tenant paying more rent than they should have and you need to issue a refund. This works with the XERO integration, but is NOT intended as a way to handle deposit deductions and refunds. It is intended as a way to handle ...

    • How do I record a rent increase on COHO?

      Q. How do I record a rent increase on COHO? Steps to resolve: Navigate to the tenancy that you wish to record a rental increase for and click 'Change rent' under the Active Tenancy. Rent change date: Here you can enter the date the rent change is to ...

    • A tenant has moved out but COHO is saying there is rent due, why?

      Q. A tenant has moved out but COHO is saying there is rent due, why? A. This is likely due to not updating the rent schedule when moving the tenant out on COHO. Steps to resolve: Use the search function on your account to navigate to the tenancy. ...