Sample Xero screens and reports
Accounts Receivable in Xero
With all Invoices, Xero creates an Accounts Receivable that mirrors the amounts and Owners in Prism.
For Bill Payment via Prism Pay, the payment will automatically reconcile against Prism and Xero.
Where there is a bank to bank transfer, Cheque or Cash, you can manually mark as paid in either Prism or Xero and they will update both systems.
Accounts Payable in Xero
By contrast, the payable items will go to Bill item in Xero for each supplier. Normally, the bill is the group of expenses which have the same reference number. If that number was not defined, it will create a separate bill in Xero. Here is an example of a bill in Xero:
The same as invoicing, Xero will determine where to place expenses based on the inputs you provide relating to tax rates and account codes, thus reinforcing the importance of ensuring your have the right details in Prism to direct all revenue and expenses. The created bills will go to Account Payable as below:
Prism will feed Xero the key Horses Expenses and Owner revenue, with all other expenses and items captured directly in Xero; including BAS Reporting, Payroll, Leave, Accounts Receivable, Accounts Payable, Balance Sheet, Ledger Accounts and Profit and Loss. Key samples with imported data is highlighted below.
General Ledger in Xero
This report can be run in Xero.
For more details, check https://central.xero.com/s/article/General-Ledger-report.
Trial Balance in Xero
This report can be run in Xero.
Balance Sheet in Xero
This report can be run in Xero.
Profit and Loss in Xero
This report can be run in Xero.
For more details, check this https://central.xero.com/s/article/Profit-and-Loss-New
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