Supplier Accounts are used to assign specific suppliers to spend items. They enable advanced reporting on spend and are part of the double-entry accounting. In Xero, supplier accounts are managed as “Contacts”.
Invoices: Suppliers can be assigned to invoices and then be cleared in Xero with payment bookings after the export.
Transactions: If supplier accounting is enabled, supplier accounts can also be assigned to card transactions. The field is mandatory in that case. Supplier accounts are automatically cleared with every transaction export to Xero since Moss also exports the payment record for each transaction. But supplier accounting enables advanced reporting for finance managers.
Accounting automation: Accounting settings in supplier accounts enable accounting automation for recurring expenses for invoices.
Bank details: Bank details in supplier accounts enable users to pay invoices and reimbursements with SEPA files downloaded from Moss.
Note: New suppliers cannot be created in Xero. Xero automatically creates a supplier once a bill is booked on one contact. This can happen manually in Xero or through an export from Moss. In that case, suppliers would have to be created in Moss first, used for an invoice or transaction and exported to Xero. The supplier will then be added to the list in Xero.
How-to sync supplier accounts from Xero
Click on “Accounting” on the left side menu.
Click on “Suppliers” to open the supplier account list in Moss.
In order to sync Supplier Accounts (contacts) from Xero, click “Sync now”.
How-to assign accounting attributes to supplier accounts
To assign accounting attributes to supplier accounts you have two options. Either click on the "green + sign" next to "Invoices" or click on the "green + sign" next to "Accounting".
Benefits
Automation: pre-accounting by assigning accounting attributes such as Chart of Accounts or VAT rates to specific supplier accounts for invoices
Complete Overview: Allows exports of complete posting records to accounting software
On platform payment: Enables users to pay invoices or reimburse employees directly from the Moss platform (using a SEPA file to initiate payments from their online banking)
Features
Sync Suppliers from Xero: The API to Moss enables users to sync all existing supplier accounts in Xero with Moss. They can then be selected for transactions and invoices
Accounting: Supplier accounts are required for double-entry accounting and allow more advanced reporting on company expenses
Reporting: Supplier details can be collected and used by accountants to identify certain suppliers