Workflow
Workflow tends to vary from business to business depending on how you prefer to operate. Generally, printIQ and Xero will interact as follows:
Customers / debtors
- Sales invoices are generated and emailed out of printIQ. Data from each invoice is then posted to AR as an invoice awaiting payment.
- All payments, credit control, overdue email reminders and statements, aged trial balance reports are generated out of Xero.
- printIQ will check for overdue invoices, past a certain threshold, and place the account on hold in printIQ to stop quotes being accepted.
- Staff can check the outstanding balance of an invoice from within printIQ. This is a real time call to Xero which is used in a payment on delivery workflow.
Suppliers/Accounts payable
- Suppliers are generally not integrated and simply added manually in both systems due to volume.
- Inventory is managed and POs are generated in printIQ.
- Supplier invoices related to these POs are entered in printIQ and push to Xero as an invoice awaiting payment. Generally, invoices unrelated to raw materials and outwork are processed directly in Xero.
- Checks/payments and reconciliations are completed in Xero.
Integration points / data sync
- Customer data sync for new customers with printIQ as the master pushing to Xero.
- Sales invoice and credit note push from printIQ to Xero.
- printIQ invoice amount due check from printIQ to Xero.
- printIQ credit card payment push to Xero (optional). This may be used when the credit card gateway in printIQ is used. We can process the payment in Xero. We tend to advise against this though as the funds have not yet reached the bank account which is the Xero standard workflow for cash application.
- printIQ check to Xero on overdue invoices to place the account on hold in printIQ.
- Supplier invoice push from printIQ to Xero.
Manual journal posting – 3 manual journals to raise
- Run the printIQ Work in progress report at the end of period and use this as your accrual journal for accrued revenue.
- Run the Inventory valuation report as the basis for the asset value for stock.
- Run the Cost of Goods Sold report which is a job by job based report.
printIQ Xero FAQ
Q. What
happens when the invoice has been sent to a customer from printIQ, exported to
Xero and the customer subsequently pays by credit card in printIQ?
A. As the
payment is processed through printIQ, we mark the invoice as paid. printIQ credit card payment push to Xero (optional). This may be used when the credit card gateway in printIQ is used. We can process the payment in Xero. We tend to advise against this though as the funds have not yet reached the bank account which is the Xero standard workflow for cash application.
Q. Can
printIQ tell if an invoice has been paid by cheque in Xero?
A. Yes, there is a feature which allows you to select one or more
invoices and “Check for payment”. We
have a real time API call that connects to Xero and returns the amount due on
the selected invoices. We take this
approach as Xero cannot push information to printIQ. See the information guide for more details on
how this works.
Q. Do my
operations staff need to know if a customer has paid an invoice?
A. This is
only important if you have a payment on delivery workflow in place. If the customer is paying their account by
cheque because they have credit terms with your company, payment of the account
is irrelevant to the job as your terms of trade will protect you in the event
of non-payment.
Q. Can I
use my credit card gateway within Xero?
A. Yes,
Xero supports Windcave (previously Payment Express) and some of the gateways offered in the US. This allows you to utilise the same gateway
in Xero as you use in printIQ. This is
helpful where you send invoices or statements from Xero as you can add a "pay by
credit card" link. Setup information is
available from Xero.com
Q. How do I
reconcile payments between printIQ and Xero?
A. As all
payments are made in Xero, there isn’t a reconciliation available. We do however have an option to check for
payment on specific invoices. Please
note that even when printIQ processes a payment via credit card, Xero does not
see this as being paid until the funds reach the bank statement 1-3 days
following.
Q. How do I
reconcile credit card payments processed in printIQ with my bank statement?
A. Use the
Payment Report in printIQ to generate a transaction listing of all payments
processed through the payment gateway. In theory, this will balance to the settlement amount from your credit
card merchant(s). In reality though,
there may be timing differences and some merchants do not settle the following
day. Other merchants settle net of
commission which makes reconciliation a little more difficult.
Q. Does
printIQ or Xero generate the customer account statement?
A. Account
statements are produced from Xero as Xero receives the payments and applies
them to the relevant invoices. It is
Xero that manages the account balances and overdue invoices.
Q. Why does
printIQ not send customer statements?
A. printIQ
generates and sends invoices to customers and then passes the details to
Xero. Payments are then received via
credit card, wire and cheque.
Once
payment is received, payment application takes place in Xero, so it is the source
of truth for account and invoice balances.
Q. How do I establish the initial connection between printIQ and Xero so that they can talk to each other?
A. Setup process is handled by printIQ personnel. A step by step document will be supplied to you to complete the setup.
Q. How do I
setup my tax types in printIQ so that they pass through correctly to Xero?
A. Obtain a listing from your Xero account, and enter the appropriate information in Accounts > Invoice Admin > Tax Types.
Tax Types must match between both systems.
Q. How do I
setup my payment terms in printIQ so that they pass through to Xero
A. Obtain a listing from your Xero account of the payment terms and enter the appropriate information in Accounts > Invoice Admin > Credit Terms.
Credit Terms must match between both systems.
Q. When trying to export an invoice, I received an error "INV002055 rejected by Xero - The status \'ARCHIVED\' is not valid for contacts." what does this mean?
A. It means the customer or supplier connected to the invoice is inactive in printIQ.