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cash clearing and sales lines

Started by Ben Stevens -   in Getting Started

I run several restaurants and have used xero for about 18 months. during that time i have been unable to get my sales figures into the program. i now have an integration with xero accounting which puts the sales figures from my epos into a 'cash clearing' line.

The problem is i cannot get them from there into the sales line of xero, so i have no accurate P&L (or anything else).

There is no telephone support for xero, which is ridiculous.

How do i make the 'cash clearing' lines work with the sales in xero.

Please help.
Hi Ben,

The sale itself would show on your Profit and Loss under whatever account the line items of the transaction are coded to. Usually this is a revenue account with a name like "sales", or whatever you and your accountant set up for your business. If you're set up as an accrual basis business you'll see the value when the invoice is approved, and if you're set up as a cash basis business you'll see the value when the invoice is marked as paid.

Clearing accounts are used for payments. Usually when an add-on uses a clearing account invoices are paid to that clearing account which raises the value of the account. The clearing account is usually a current asset account, so will show on your Balance Sheet. When a bank statement line is imported showing the amount deposited, you'll use the Create tab in reconciliation to code the deposit to the clearing account. This will reduce the clearing account and create a receive money transaction increasing the value in Xero of the bank account which will also show on your Balance Sheet.

For a write up on how clearing accounts work from an add-on perspective, please see the Handling payment processor receipts how-to article we have in our Developer Center. If you still have questions on how this will work after looking at the guide, please email support@xero.com and our accounting Support team will be happy to assist you.

I hope this helps.

Thanks,
Angela
 

Angela Marshall (Xero Staff)  

Thanks Angela, but i'm not creating invoices. That's the thing. I have three outlets all taking daily cash and credit card sales. Xero accounting integration adds these daily sales totals to a cash clearing line, which means one line shows only income in the form of invoices with a debit amount. Then, separately to this, my bank balances show in a bank account, which gets reconciled against a 'cash in hand' account set up by my accountant. but i cant find a way to marry the two together. Should i be reconciling the bank with the cash clearing account instead of the cash in hand account? there are no instructions on how to do this. there are no instructions on how to deal with multiple lines e.g. the last 18 months worth of daily sales figures to marry up. any help greatly appreciated
 

Ben Stevens  

Hi Ben,

In a clearing account situation the cash clearing line would be on an invoice that would be marked paid to your cash on hand account. Then when you reconcile the statement line to the cash on hand account the two would marry up. However, if you aren't getting these line items on an invoice but instead they're listed on a receive money bank transaction or a manual journal, then the answer would be different for what you need to do. Can you please send in a case to support@xero.com with the company you're working on and the details of what transaction type is being created by your integration to record sales and we'll be able to better advise you.

Thanks
Angela
 

Angela Marshall (Xero Staff)  

Hi Angel, I am in a similar situation to Ben. How was he able to resolve this issue?
 

steve seto