For a comprehensive overview of how Receiptor AI extracts and processes documents from various sources, please refer to our article "How does Receiptor AI work?".
Here's a step-by-step guide on how the Xero integration works:
1. Initial Setup
Log into your Receiptor AI dashboard.
Navigate to the 'Integrations' section.
Select Xero from the list of available integrations.
Follow the prompts to authorize Receiptor AI to connect with your Xero account.
Choose whether to enable auto-export or manual export.
2. Document Extraction Process
Receiptor AI offers two types of extraction:
a) Retroactive Extraction
Run this to process historical documents.
Useful for catching up on past financial records.
b) Real-Time Extraction
Subscribe to this service for ongoing, automatic processing of new documents.
Ensures your financial data is always up-to-date.
3. Data Flow to Xero
After extraction, the process diverges based on your auto-export settings:
If Auto-Export is Enabled:
Extracted data is automatically sent to Xero without manual intervention.
If Auto-Export is Disabled:
Check extracted documents in the 'Documents' section of Receiptor AI.
Review and make any necessary adjustments.
Click 'Export All' to send the data to Xero manually.
4. Data in Xero
Receiptor AI creates Bills in Xero with the status of 'Draft.'
These drafts contain all the extracted and categorized information.
5. Review and Approval in Xero
Log into your Xero account and head over to "Bills" to review the imported draft bills imported automatically by Receiptor AI.
Verify the details and categorizations automatically provided by Receiptor AI.
Approve, modify, or cancel the entries as needed.
Once approved, the Bills become part of your official Xero records.
Benefits of the Xero Integration
Saves time by eliminating manual data entry into Xero.
Reduces errors in financial data transfer.
Ensures up-to-date books with real-time processing.
Simplifies tax preparation and audit readiness.
Maintains the accuracy and categorization of your Xero transactions.