Simpro Payments and Xero

Overview

Set up Stripe processing fees to ensure Simpro Payments are exported and reconciled correctly in Xero.

In Australia, the GST charge is typically applied in addition to Stripe's posted product and service fees. This varies in different countries. Learn more in the Stripe support documentation.

A supplier is required to start exporting the Stripe processing fees, this is important for allocating fees and transferring the fees across to the correct accounts without impacting stripe payments.

To create a Stripe Supplier within Simpro Premium.

  1. Go to People > Suppliers and create a supplier as normal.
  2. Once the Stripe supplier is created, go to Utilities > Xero > Transfer and export this supplier to Xero.

If a supplier already exists in Xero for finance charges, ensure this account is mapped in Simpro Premium in the account mapping page of the Xero Interface.

The supplier name in Xero must match exactly with what is in Simpro Premium. Any differences can cause issues with exporting.

Stripe processor charge accounts need to be set up in Xero to ensure finance charges are allocated correctly.

  1. In Xero, go to Accounting > Advanced > Advanced Settings > Chart of Accounts.
  2. Create a new account.
    • This will typically be an Expense account type.
  3. Ensure Enable payments to this account is ticked.
  1. In Simpro Premium, navigate to System Setup > Defaults > Financial.
  2. In the Stripe Processor Charge account field, enter the account code where Stripe fees should be posted in Xero.
  3. In the Xero Contact for Stripe Processor Charge field, select the supplier in Simpro associated with Stripe finance charges.

This calculator is designed for Stripe payment processing fees. It helps determine the Finance Charge percentage you need to apply to your invoices to ensure that Stripe's processing fees are set up correctly.

Download: Stripe Transaction Fees Calculator

Go to Utilities > Xero > Account Mapping and check that each Xero account is mapped correctly.

You can configure the following:

Defaults

Click Defaults to map your Default Account Name in Simpro Premium to the one in Xero. If set up correctly, financial defaults automatically populate.

Learn more in How to Set Up Financial Defaults.

Cost Centres

Click Cost Centres to map each Cost Centre Name in Simpro Premium to the one in Xero. If set up correctly, cost centre account names automatically populate.

Learn more in How to Use Cost Centres.

Payment Methods

Click Payment Methods to map payment methods in Simpro Premium to those in Xero. If set up correctly, account names automatically populate.

Learn more in How to Use Payment Methods.

Accrual and Deferral Accounts

Learn more in How to Set Up Accruals and Deferrals of Revenue.