How to connect Xero with Upmetrics?

Data Flow Diagram

Achieving a clear view of your financial performance in relation to planned figures is vital for any business. By integrating Xero with Upmetrics, you facilitate the automatic transfer of your financial data, allowing for an immediate comparison with your forecasts.

This connection provides the insights needed to make informed strategic decisions efficiently. This detailed guide will help you connect these platforms, enhancing your financial analysis capabilities.

Here’s how you can get started with Xero and begin forecasting with Upmetrics.

Before connecting Upmetrics to Xero, follow these steps:

TIP: For users who already have an existing Xero account, They can skip this step. There's no need to go through the account setup again.

1: Go to the Xero website and Create a Xero account if you don’t already have one.
2: After signing up, input your business details and set your accounting preferences. For detailed help, visit the Xero Help Center.
3: Once your Xero account and organization are set, link Upmetrics to Xero for automatic data synchronization.

Steps to connect Xero with Upmetrics:

1

NOTE: Before you move forward, please make sure your finance forecast setup is fully configured as well. If it is not configured Click here to finish setting it up.

2

Navigate to the finance forecast module and click on the "Actual" tab. Choose the Xero accounting system and click on the "Connect to Xero" option.

3

A popup will appear. Click on the "Connect Xero" option, which will redirect you to the Xero login page.

After Entering your login credentials, click on the "Allow Access" option.

4

Once logged in to Xero, you will be redirected to the Upmetrics finance forecast module, where the mapping page will open. On the mapping screen, select a financial stream (revenue, cost of sales, or expenses) by clicking on it.

5

The Xero charts of accounts will be shown on the left side and the corresponding Upmetrics forecast category details on the right. Categories that have not been mapped will be displayed as 'Unmapped'.

When you click on an 'Unmapped' category, options will appear allowing you to select the forecast streams to map with the corresponding Xero Chart of Accounts (COA). The system saves the data in real-time, so there is no need to save it manually.

Understanding Mapping Options in Upmetrics with Xero Integration:

Choosing an Existing Finance Stream of Upmetrics:

Upon reaching the mapping section, the System will show the first finance stream created in Upmetrics. To link this finance stream, click on it, and it will automatically map to your Xero account.

Exclude from Forecast:

When you select "Exclude from Forecast" for a specific finance stream or financial account from Xero, the system will not include this data in the comparison between your actual data and your planned data within Upmetrics. This option is useful if the particular data does not relate or contribute to your current forecasting needs, allowing you to maintain clarity and relevance in your financial analysis.

Add New Stream:

Upmetrics offers an "Add New Stream" option. This lets you create a new financial stream directly within Upmetrics. The name of this new stream will match the selected Chart of Accounts (COA) name from Xero. This feature is especially useful when you find a new financial source in Xero that isn't already included in your Upmetrics financial plans.

6

Ensure that the "Show Actual Data" option is enabled to allow comparison of your Xero data (Actual data) with your Upmetrics planned data. If it is not enabled, you can enable it by clicking on "Go to Actual Settings."

Once enabled, the "Show Actual Data" option will be visible in your graphs and reports within Upmetrics, facilitating a comprehensive comparison between actual performance and forecasts.

Disconnecting from Xero:

Maintaining a connection between Upmetrics and Xero means your data is automatically updated every time you log in.

If you decide to disconnect, here's how you can terminate your link with Xero, allowing you to control your data independently.

1

Navigate to the Finance Forecasting module in and select the “Actual” tab. Locate and click on the “Disconnect From Xero” option found under the mapping section.

2

After clicking “Disconnect From Xero,” a confirmation popup will appear. Select “Yes, Disconnect” to proceed.

This action will sever the connection with Xero and automatically redirect you to the “Connect” section. You can connect xero again if required.

FAQ:

Q1. How do I disconnect from Xero?

Ans. You can easily disconnect the Xero and Upmetrics connection from the "Actual" tab of the Upmetrics Finance Forecasting module.

> Actual > Mapping > Click on Disconnect From Xero

Q2. What doesn’t your integration do?

Ans. Our integration does not modify any data in Xero after connecting with Upmetrics.

Q3. How do payment processing fees appear in Xero?

Ans. We at Upmetrics do not use any Xero payment services, so no payment processing fees from Upmetrics appear in Xero.

Q3. How do I reconcile sales data synced to Xero?

Ans. We do not sync or fetch individual sales transaction data directly from Xero. We only fetch Profit & Loss and balance sheet report data. Users can compare the data using the "Actual" option in Upmetrics.

Q4. When and how does data sync occur? Is it manual, automatic, on login, in real-time. Are there any settings related to synchronizing?

Ans. Data sync between Xero and Upmetrics occurs automatically when a user visits their workspace (Xero-connected WP) after login, and the system will auto-sync the data from Xero. It is not scheduled to fetch the data at a particular time.

A manual sync option is available under the name "Sync Actual Data" in the connect section. Clicking on this option will manually sync the data from Xero to Upmetrics and make changes accordingly.