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Xero Accounting Software

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XERO Accounting Package

LCU can facilitate a direct link with Xero Accounting Software for small businesses.

Xero provides accounting solutions for our members directly or through their nominated accounting firms on behalf of members.

Through Xero software, data can be made available automatically without the need to exchange it manually.

The Process

Log into your Xero account and from the Dashboard select Connect Your Bank account.

Xero will ask you to fill in an Authority to Disclose form, sign it, and send it back to Xero.

When Xero receives this form they will set up their internal process and then send the Authority to Disclose form to us.

We will then independently verify the details supplied to us by Xero and then set up our internal process.

Before we transfer any data to Xero we will call you to verify that the request comes from you and only after the verification is correct will we allow the data download via Xero.

For more information please contact us on 02 9859 0585.

Comments

avatar Glen Huber
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Hi,

Can this be done with Quickbooks?

I am considering opening another bank account with another bank to get this facility.
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avatar Susan
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Wow looks good
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avatar Jane Palmer
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Like Glen - I am considering changing to a different institution to get bank feeds from QuickBooks. Are you considering bank feeds with QuickBooks?
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avatar marketing
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Hi Jane,

Thank you for your feedback. We are currently still offering direct bank feeds for Xero only and do not have any immediate plans to offer connectivity with Quickbooks.

HOWEVER

Our providers have advised that this may be changing after the open banking legislation comes through and makes the sharing of data between FI's and other services a lot simpler. Of course as with anything else that has a timeline controlled by govt, we cannot be sure of the timing.

We do have methods of exporting transaction data from your internet banking in a format that is acceptable to quickbooks. Unfortunately it is still a manual process but it is quite quick. If you'd like further instructions on this please don't hesitate to get in touch with us. I will email you directly as well Jane in case you don't see this reply.

Matthew Thoms
Laboratories Credit Union

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