Instructional Walkthrough Video
Set up CreDec–Xero integration
In this step, you authorise CreDec to access your Xero organisation.
- You will receive an invitation email and SMS passcode;
- Click the link in the email and follow the on-screen instructions;
- When taken to Xero, be sure to select the correct Xero organisation;
- You will be brought back to CreDec, where you will see progress of your CreDec Virtual Account and bank feed being created in your Xero organisation;
- When you see the success message, you are ready to start making payments from Xero!
The CreDec-Xero integration also supports batch payments. Batch payments enable you to pay multiple bills in one transaction.
Pay dates must not be in the past.
See notes below about reconciling batch payments, and handling payments that may fail in a batch.
For more details about Xero’s batch payment features, see Xero batch payments help guide.
In some instances, a payment may fail (e.g. if the payee details were rejected by the receiving bank).
Single (non-batch payments):
When a single (non-batch) payment fails, you will receive a notification from CreDec so you can delete the Xero payment. Batch payments:
When one or more payments in a batch fail, you will receive a notification from CreDec with instructions to edit the original batch payment and remove the failed individual payments. Any successful payments in the batch will be represented in your CreDec Virtual Account as a single statement line. The edited Xero batch payment and the single statement line can then be reconciled as normal.
Making payments from within Xero is easy – just create a payment as normal and use your CreDec Virtual Account as the source, making sure the pay day is in the future:
- Choose a supplier bill in Xero;
- Add a payment to the bill, using:
a) Your CreDec Virtual Account as the ‘from’ source account;
b) A pay date that is not in the past.
- Your Xero payment will be fetched by CreDec within minutes;
- You (or users registered to your CreDec portal) will receive notification to approve and fund the payment;
- As long as sufficient funding is present in your CreDec Virtual Account on pay date, the payment will be made.
You can also do a spend money payment in Xero with CreDec, just make sure you choose the CreDec Virtual Account and include a reference when recording the spend money transaction.
Reconciliation is quick and easy, using the usual Xero interface.
- Go to your CreDec Virtual Account in the bank accounts area of Xero, and click the ‘Reconcile’ tab;
- Xero should suggest matching payments and bank statement lines.
Note that Xero batch payments reconcile against a single statement line (see note below regarding failed payments in a batch).
For more details about Xero’s reconciliation features, see Xero’s reconciliation help guide.