The general Moss accounts enable automated posting for balance movements (top ups or credit repayments) and the payment entries for card transactions, invoices and reimbursements paid out of Moss.
To set up you would need to first add relevant accounts in Xero and sync them with Moss.
Why should you set up your accounting integration?
Quality: Avoid errors from manual booking of credit card statements.
Accounting automation: By using the Moss accounting automation for card transactions, bookkeeping is fully automated on our platform and can be exported directly to Xero.
Saves time: All supplier accounts are cleared, and Moss exports both invoice and payment postings to Xero. The Moss account is balanced with the primary company bank account.
How-to guides to set up different Moss accounts to integrate with Xero:
How to set up general accounts
Double check that he correct Entity is connected and press “Sync now” to sync General Accounts with Moss.
How to select platform account settings
You need to set up the Moss balance account and the top-up (or repayment account) for each of your Moss wallets/credit lines.
If you are using Credit
Choose the Moss credit balance account as the Moss balance account. This account will reflect the balance on your Moss platform. Credit repayments will be debited to this account.
Choose your company bank account or a cash in transit account as the Repayment account in Moss. Credit repayments will be credited from this account.
Note: If you are using a credit line and would like to pay for the invoices and reimbursements from you Moss balance, you will also need to set-up your debit wallet accounts.
If you are using Debit
Choose the Moss debit balance account as the Moss balance account. This account will reflect the balance on your Moss platform. Top-ups of the Moss balance will be debited to this account.
Choose your company bank account or a cash in transit account as the Top up bank account in Moss. Moss balance top ups will be credited from this account.
Make sure to assign all the remaining accounts
Default supplier account - the bills will be posted against this account if no other supplier account is selected. You can create this account directly in Xero or import it into Xero from Moss (see below).
Prepaid expenses account - prepayments will be debited and released against this account
FX fee account - fees for transactions and payments in foreign currency will be debited against this account if applicable
Line description export type - by default we append the merchant name and the card holder name to the Note/Booking text of every card transaction when we post it to Xero. If you want to only post what is written in the Note field without any additions, choose NOTES from the drop down menu.
Enable the needed settings
Disable Xero premium - if you are using Xero premium subscription but do NOT want to handle any multi-currency spend on Moss, disable this in Moss with the toggle
Enable supplier accounting for card transactions - if enabled we will require a supplier account assigned to every card transaction, so that you can track your card spend better. If disabled we will post all card transactions against the default supplier account you set up earlier.
How to import the default supplier account from Moss to Xero
With our two-way sync functionality, you can create and assign supplier accounts to any spend type (card transaction, invoice, or reimbursement) directly in Moss. The supplier account will only be imported into Xero once you export the spend from Moss to Xero, ensuring seamless integration at the moment of export.
The walkthrough below is an example of creating the default supplier account in Moss and exporting it to Xero.
Enable the supplier accounting for card transactions in Moss under Settings > Accounting
Create the supplier in Moss
Navigate to the “Suppliers” tab in the Accounting Settings and press on “Add/Import Suppliers”.
Choose Company as the type of the supplier
Type Moss default supplier as the supplier name and press "Add supplier"
Assign the supplier to a transaction and export it to Xero
Navigate to the "Review" tab of the Card transaction page and assign the relevant accounting details (Expense account, VAT, cost centre etc.). Make sure you assign the Moss default supplier to this transaction. Mark the transaction as Ready for export.
Navigate to the Export page, select the transaction and export it into Xero. This will create the Moss default supplier account in Xero.
Go to the Accounting Settings and press Sync now to import the supplier from Xero.
You will now see Moss default supplier as an option in the dropdown for the Moss default supplier account.
If you want to post all card transactions agains this supplier, disable the Supplier accounting for card transactions at the bottom of the page.
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