How to publish tax rates to Xero

When you publish an item to Xero, Receipt Bank will send the Tax value and Tax rate that was extracted from the submitted paperwork.

Note: this functionality is only available for Business Plus and Premium Receipt Bank Accounts, or Streamline and Optimize partner accounts. Find out more about the different Receipt Bank products here.

You can specify how Receipt Bank behaves when displaying and publishing tax information to ensure that items are described in the correct way to suit your Xero account.

1. Showing your tax rate lists
2. Publishing tax data

Showing your tax rate lists

After integrating, Receipt Bank will import all of the Tax Rates you've set up in Xero. You can display this list of Tax Rates on the Item Detail page by:

1. Navigating to the 'Account Settings' page
2. Accessing the 'Integration' page
3. Using the 'Publishing tax data' dropdown menu
4. Turning the 'Use tax list' setting to 'ON'.

Publishing tax data

You can specify whether tax on submitted items should be calculated in Receipt Bank or Xero using the 'Publish tax data' option in Receipt Bank.

Change the tax settings by:

1. Navigating to the 'Account Settings' page
2. Accessing the 'Integration' page
3. Using the 'Publishing tax data' dropdown menu

You're presented with 3 options:

1. Allow Receipt Bank to decide

Receipt Bank will always extract the tax value from submitted paperwork. After the item is published, Receipt Bank's extracted tax rate will always be displayed in Xero.

2. Allow Receipt Bank to decide with exceptions

Receipt Bank will always extract the tax value from submitted paperwork. After the item is published, Receipt Bank's extracted tax rate will always be displayed in Xero, unless;

• The tax value of the item is 0.
• The tax amount field is blank
• The default tax rate for a nominal code in Xero is zero-rated

3. Allow Xero to Calculate

Receipt Bank will extract the tax value from submitted paperwork but when this is published Xero will overwrite this value and recalculate the tax according to the tax rate of the nominal code.