Objective:
- Xero Accounting Set up
Environment:
- Clio Manage
Additional Information:
n/a
Answer:
For Xero, the Chart of Accounts is used to map Clio entities to Xero. The types of account from the Chart of Accounts that Clio entities are mapped to are:
- Time Entries: Revenue and Asset
- Expense Entries: Revenue, Asset, and Expense
- Interest: Revenue and Asset
- Credit Notes: Revenue and Asset
- Payments: Bank Account
The sub types that Xero supports for these account types are:
- Revenue: Other Income, Revenue, Sales
- Assets: Current Asset, Fixed Asset, Inventory, Non-current Asset, Prepayment
- Expenses: Depreciation, Direct Costs, Expense, Overhead
Note that there appears to be an Accounts Receivable account with type Current Asset created in Xero that is not included under the asset account options.