AccountancyManager Xero Integration

AccountancyManager (AM) have recently launched their 2-way integration with Xero, including invoicing. Here's our review and comparison with other practice management and proposal systems.

Firstly, how does the integration work?

To turn on the integration go to tools > integrations, and select Xero, then follow the steps to integrate the correct Xero account.

Xero Integration Settings

Contacts

Once the initial sync is complete you will then be able to match the contact records between AM and Xero.

The % is an indication of the % of data in AM that matches Xero.

A contact created in AM from Xero will be added as a prospect. Prospects don't become clients until you mark them as 'Registration Fee Paid' under the 'Registration' section. If you don't charge a registration fee, you can leave the value blank.

The fields that are populated in AccountancyManager from Xero are:

  • Contact name
  • First name
  • Last name
  • Email address
  • Tax/VAT number
  • Telephone number
  • Telephone area code
  • Mobile phone number
  • Mobile phone number area code
  • Mobile phone number country code
  • Address

There is currently no way of adding contacts in bulk.

With the integration enabled, any updates you make to Contacts and Clients will be reflected in the other respective software.

Invoicing

When the invoice sync is enabled the invoicing style in AM will update to match that in Xero. As part of this additional text fields appear on the AM invoice:

The integration also provides the option of importing historical invoices. This is a one-time activity that is irreversible.

Invoices raised in AM will create a draft invoice in Xero. Invoices created in Xero will create an invoice in AM. If an invoice is updated in either system it will be updated in the other. If marked as paid in either software, this will be updated in both places.

AM service items are not mapped to Xero account codes, but you can choose the account code you want the line item to be mapped to when raising an invoice in AM. Xero tax rates pull through, but again there is no default mapping to service items.

For invoices to sync as expected a description must be entered.

Xero can be used for recurring invoices and these will pull into AM. AM can be used to chase unpaid invoices.

The sync takes place every hour, or there is a manual instant sync option.

Watch the AccountancyManager Xero Integration video

Summary of Integration and Benefits

The integration allows client managers that need to raise invoices for clients to do so without leaving the place where they are managing the work, whilst also meaning no access is required to the firm's Xero account.

Keeping contact data in sync removes the need for manual duplication, and also reduces instances where invoices may be sent to the incorrect contact address.

It is the only purpose built practice management system with a direct 2-way integration that allows you to raise invoices into Xero.

Overall it's a good first release of the integration and provides a base from which to build in enhancements.

How does the AM Xero integration compare with the Karbon and Senta integrations?

Karbon

Karbon does not currently have a Xero integration.

Senta

Senta has two levels of Xero integration - Practice and Client.

The practice integration is designed to allow you to import from your own Xero books using the "Sync with Xero" menu option and keep your records in sync by copying any changes to and from Xero. It will also enable a "Sales Ledger" tab on each client. This allows you to view outstanding invoices, not all invoices. Senta does not allow you to create or amend invoices in Xero.

The client integration creates a "Xero" tab in each client, where you can connect to your client's books, and see their financial data, reports and indicators.

How does the AM Xero integration compare to the GoProposal and Practice Ignition integrations? Download our comparison.

Fluidly’s Free 90 Day Automated Forecast – Our Verdict

Introduction

Here’s our detailed review of the forecasting element of the product. We do not cover the credit control or funding elements here, but you can see those, alongside the cash flow forecasting in our Insights Webinar.

Account Setup 

Speed of account creation

To sign up as an accountant you have to first fill out a basic info form on their website and then they create you an account. This isn’t instant. 

Sync with accounting platform

After you’ve connected to QuickBooks/Xero you get this message 

“This could take around an hour or two. But don’t worry, we’ll send you an email once your cashflow and insights are ready!”

It did take around an hour to two to complete, and we got an email to say we were ready:

The Integration – QuickBooks / Xero

Data sync

Fluidly syncs automatically around every hour. There is no manual sync option.

Chart of accounts 

All accounts with activity pull in with no issues. The order of display is alphabetical with no way to amend.

Bank accounts

These pull in with no issues and you can toggle on/off as required.

Customers & Suppliers

Customers and suppliers are pulled in and these can be selected across multiple account categories (income/expense/asset/liability/equity) when setting up new predictions

Debtors and creditors and pulled in with expected payment dates (these are based on the Fluidly calculation of when the invoice is likely to be paid rather than the due date in QBO/Xero), these can be adjusted in the forecast.

Classes & Location / Tracking Categories

This is not a feature.

The Base Forecast

You get some immediate data widgets. You can action them, but they can’t be moved or replaced with other metrics.

Moving down you get an easy to understand cash visualisation, with daily, weekly, and monthly summary views.

A overview of the monthly numbers relating to the graph is also provided.

The Automated Forecast

You get actuals for the previous 8 months, plus the current month, then a forward prediction of the next 3

In our test the automated forecast did recognise regular monthly payments, but amended the amounts to be different to what they had been recently. Overall the automated element was not accurate enough to be considered useful. More choice over the computation at the setup would be useful here, for instance the ability to set calculation preferences at a category or even a supplier level.

It isn’t possible to edit the predictions if they’re wrong, you have to hide them and then enter your own. An edit function, or copy to new prediction would be useful here.

Forecasting without the Automation

Customers and suppliers are pulled in from QBO/Xero and these can be selected across multiple account categories (income/expense/asset/liability/equity) when setting up new predictions. It is really simple and user friendly.
 

Scenarios

The newly released ‘Plan’ option is super useful, with relevant options from typical scenarios such as hiring a new member of staff or renting a vehicle, among others.

VAT

Fluidly does not currently handle VAT separately as part of the forecast.

However:

You can set up VAT reminders as emails and in-product alerts.

Summary

In summary we feel that whilst the automated element needs some work to be useful, as a free product it’s simple to use, with an easy-to-understand, client-friendly layout, that makes it easy to provide to clients.

Offering the free version to clients should act as a good lead into having more advisory conversations.

Our favourite feature is the recently launched ‘Plan’ which allows you to easily manipulate the forecast based on common scenarios, such as hiring new staff, expanding premises, launching new products, making investments and more.

If you want to find out more you can book in a 1 to 1 demo.