Connect Xero
Finconsol connects to Xero directly and only reads from it. You sign in to Xero once and choose which organisations to add as companies in your group. Finconsol then syncs each organisation daily, and again whenever you refresh.
Who signs in
Sign in as a Xero user with the Standard, Adviser or Administrator role, the Connected Apps permission, and access to reports. One sign-in can cover several organisations, and you choose which of them Finconsol may read.
Connect and add the organisations
- On the Companies screen, choose Connect an accounting system, then Xero.
- Sign in to Xero and choose the organisations to share with Finconsol.
- Back in Finconsol, Companies you can add lists each organisation with its currency. Choose Add as company for each one that belongs in the group. The price for the extra company is shown before you confirm.
- Map each company's accounts to the group chart. Mapping accounts explains how.
Finconsol takes each company's name, currency and financial year from Xero, and you can correct them later. Refresh list asks Xero again for organisations you have just shared.
What Finconsol reads
Finconsol reads each organisation's details, its chart of accounts and its figures for each month, and checks them against Xero's balance sheet and profit and loss. The access it asks Xero for is read-only, and it never changes your books.
Receivables and payables aging and intercompany matching by document are not available for Xero companies, so their intercompany is eliminated at account level.
How often it refreshes
Every organisation syncs daily, and again whenever an administrator chooses Refresh now on the Data Health screen. When figures refresh has the details.
When someone adds an account in Xero
When the next read finds an account that has not been mapped to the group chart, Finconsol stops the months it affects and names the account, so no account is left out of the totals without you knowing. Once it is mapped, the months carry on.
Organisations Finconsol cannot read directly
- An organisation whose financial year does not end on a month end. Add it as a company that uploads a trial balance each month instead.
- An organisation already used by another Finconsol client. Write to the Finconsol team if it should move to your group.
Disconnect Xero
Remove connection on the Companies screen disconnects Finconsol from Xero. Nothing changes in your Xero books, and the change log records the disconnection. A connection still used by companies in the group cannot be removed until they use another connection or leave the group.