You are now ready to prepare your payables on Spendesk and export them to Xero.
Bookkeep your payables
You can bookkeep your expenses using all of your familiar Xero accounts and values. Once you are ready to export your expenses to Xero navigate to Bookkeep > Export and select the desired period to export.
When pushed to Xero, these expenses are created as Bills on Xero, with status 'Draft'. After reconciliation with the payment, the status is automatically changed to 'Paid'. This is how the integration works:
The payable is exported to Xero;
When the payable is successfully exported, Spendesk pushes the settlement;
When the settlement is successfully exported, the bill is marked as 'Paid'.
Important notes:
Spendesk exports recognized expenses - expenses that passed all configured approval flows and were prepared by finance. We do not create any accounting entries for expenses that are still under review.
The current functioning is that payables and payments are exported to Xero in wallet currency (using Spendesk's conversion rate) by default. Xero is rounding the amount with their own rules, we cannot change this rounding on our side.
Wallet loads (wire transfers to top-up your Spendesk wallet) are not exported to Xero. You can read this article to know more about the manual export process.
If you export an expense claim that has been marked as 'Paid' in Spendesk but that was actually paid outside Spendesk (e.g you exported a SEPA XML or CSV file to pay for it via your own bank), then Spendesk creates a Bill with the status 'Awaiting payment' in Xero. You will have to import the payment made in Xero and do the reconciliation manually.
For card payments, if you are using the 'Accounting date' feature on Spendesk, your card payments might be exported to Xero as 'Unpaid'.
Bank fees are exported to Xero only after the settlement is successful on Xero.
Push your payables to Xero
You will see a preview of the payables ready to be exported. Click Push to Xero to export them in bulk. You can also export a single payable. In general, payables will be exported as Bills. Payments will be exported as Bank account transactions in the Bank account you previously configured.
Expense claims are exported as Bills. Reimbursements of expense claims are exported as Credit notes.
Invoices and Credit notes are exported as Bills and Credit notes in the journal selected for invoices. Invoice payments made from Spendesk are exported as Bank account transactions.
Card purchases and Card refunds are exported as Bills and Credit notes in the journal selected for Card purchases. Corresponding Card payments are exported as Bank account transactions.
FX, ATM & other bank fees are exported as Bank account transactions.
You should now be all set up to use this integration with Xero and export your payables every month or when you need to.