Xero feed questions

Monzo Chat Business Banking
1

Could anyone answer a few questions about the Xero integration for a new Xero user?

I linked my Monzo account 2 days ago. It’s now synced twice (about 7am each day) but there are still no transactions in Xero. Does it only sync new transactions (I haven’t made any transactions since I linked it so if it only takes new transactions, that may explain things). And if that’s the case I presumably need to manually enter or import past transactions?

Anyone k ow how pots are treated in Xero? Does it show pots once synced, or just one account with the total (account plus pots) balance?

Thanks

2

Not sure how it works with Monzo but are these card purchases you’re waiting to appear in Xero? They’ll only show once they’ve cleared, not pending. If no transactions then there’s nothing to sync

Again not sure how it works with Monzo (so I’m presuming it’s this way) but generally pots are counted as the balance. You’ll need to create a new account in Xero for the pot and manually transfer

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3

Money Dashboard brought over historic transactions when linked. I wondered if Xero did the same, or just new transactions.

As for the pots I’ve always just had the one main account with Sage, if Xero does the same thing with the feed and just ignores pot transactions, that’s fine.

4

I think you need to do a CSV import

Xero central is very useful and it’s only talking about manually importing

Edit: https://central.xero.com/s/article/Convert-to-Xero-UK

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5

Thanks - that’s really helpful. From the bits I’ve set up so far (including Hubdoc) it looks a great improvement over Sage.

6

I eventually found this: https://monzo.com/help/business-accounts/pots-in-accounting-tools

This is how I hoped it would work, all we need now is for Monzo to sort out the actual bank statements so they’re fit for purpose.

Looks like a combination of Monzo, Xero and Hubdoc is going to save hours of messing about.

7

Nice!