Introducing our New Xero Bank Feed Integration
November 14, 2018
Introducing a whole new Xero integration
We’re pleased to announce the release of our slick new bank feed integration for Xero. We now have a Xero certified bank feed to simplify your admin even more.
Automatically feed transactions from your Tide accounts to Xero every two hours. Manage your active connections through a simple web interface. Best of all, it takes a minute to set up – we timed it, and it took one of us in the team literally 19 seconds to connect!
How does it work?
Every two hours, we’ll automatically post all cleared transactions from your Tide accounts to your Xero organisation. We’ll match your Tide accounts to any existing accounts in Xero (if you have not yet created these accounts in Xero, we’ll do this for you).
Automatic transaction syncing replaces manual statement sharing, allowing you to “click and forget” and avoid the end-of-year rush to reconcile transactions.
How do I connect?
We’re releasing this feature through Tide on the Web. To get started, visit web.tide.co/accountancy-software (to access your account, you will need to scan the QR code from within your mobile-app) and click on “Accountancy software” in the left-hand navigation bar.
- After you click “Connect”, you will be redirected to Xero – you’ll need to enter your login details, to select your organisation, and grant Tide access. Once this is complete, you’ll be taken back to Tide to enter your sync settings.
- Select which of your Tide accounts you’d like to create a bank feed for. We’ll match your Tide accounts to any existing accounts in Xero. Don’t worry – if you haven’t yet created these accounts in Xero, we’ll do this for you. Please note that, at this stage, we only support GBP accounts.
- Choose the start date for the sync, or else feed your entire transaction history to date. Note that the initial sync may result in duplicates if transactions within the chosen date range have already been uploaded to Xero.
- Tap “Sync” accounts to finalise. Tap “Accountancy software” for an up-to-date summary of the sync status of your accounts.
How is this different to Tide’s existing Xero feature on iOS?
In the first stage of our partnership with Xero, we built an integration to reconcile your transactions automatically, based on their categories in the Tide app. This worked well for companies with low transaction volumes, but less well for companies with higher volumes, or those giving their accountants access to Xero. If you’d like to know more about our first Xero integration and why we upgraded it, see here.
Our friends at Xero have given us early access to their bank feed API – and so we listened to our members’ feedback, and built a slick integration that regularly syncs transaction statements.
You can still use the existing integration on iOS, but please note that it can’t be used alongside the new bank feed integration (you will be prompted to disable the existing integration when setting up the bank feed).