Configuration of Xero's chart of accounts
Xero has a chart of accounts. The chart of accounts shows the accounts of your organization that Xero uses to record financial information. A practice manager must configure ezyVet product records, product groups, and payment methods with the correct account. As a result, your financial information is more accurate in Xero.
Tip: You can use a different organization’s recommended
chart of accounts. For example the New Zealand Veterinary Association (NZVA) and
American Animal Hospital Association (AAHA) have a recommended chart of accounts (www.aaha.org/practice-resources/running-your-practice/chart-of-accounts).
Xero automatically makes a chart of accounts. If necessary,
you can configure the chart of accounts for the types of work that your organization
does. If you configure the chart of accounts, ezyVet customer support recommends the configuration that
follows:
Note: You must do this configuration in Xero.
| Range of account codes | Information about the account | Xero account types | Example code and name |
|---|---|---|---|
| 100 to 199 | Payment clearing accounts for different methods of payment (for
example, cash and electronic payment cards). Note: If your organization uses other methods of
payments, you must make clearing accounts for the other methods
(for example, vouchers). |
Current Asset |
|
| 200 to 299 | Accounts for your organization's:
Tip: If you want to use Xero's Profit and
Loss report, you must configure revenue
accounts. |
Revenue |
|
| 300 to 399 | Direct cost accounts for each type of product that you buy or
use. Tip: If you configure your
direct cost accounts to have a relation with your revenue
accounts, you can easily compare them. |
Direct costs |
|
| 400 to 499 | Accounts for your organization's expenses. | Expenses |
|
| 500 and more | Other accounts. |