Setting up chart of accounts in Xero via a CSV

Setting up chart of accounts in Xero via a CSV

All the chart of accounts can be created in Xero using a single CSV file. A CSV file available here is used to create all the chart of accounts in Xero in one go. Please find all the steps of setting up below - 

  1. Download the template CSV here.
  2. Open the CSV in google sheets or microsoft excel.
  3. Mandatory Header explanations in the CSV -
    1. Code - Use letters, numbers or symbols, up to 10 characters. You can use symbols within the code, but not at the start
      The account code must be unique.
      Xero uses Tracking instead of subcodes.
    2. Name - Use letters, numbers or symbols, up to 150 characters. You can use symbols within the name, but not at the start.

      The name must be unique.

    3. Tyep - You must use one of these types (spelled and formatted the same).

      Xero only uses one Accounts Receivable system (control) account and one Accounts Payable system (control) account. If you previously used multiple control accounts, you'll need to merge them in Xero.

    4. Tax Types - Add a tax rate for each account. If you don't select a tax rate, Xero imports the account with the rate No GST, which you can update later. For bank accounts, use the code No GST. If you use a custom tax rate, include the rate value in brackets. For example, 'Tax on Expenses (8.5%)'.

  4. Optional

    1. Reporting Name - The name doesn't  have to be unique. Reporting name only appears on new reports and report templates. The option is available for all accounts except bank accounts, PayPal and credit card accounts.

    2. Description - Consider adding descriptions to accounts your users can choose when they enter receipts into expense claims. This helps users who are unfamiliar with the chart of accounts.

    3. Dashboard - Specify if the account should appear in the Account Watchlist on your dashboard. Enter only Yes or No. For bank accounts, this field must be No or left blank.

    4. Expense claims - Specify if the account should appear in the drop-down list of accounts when entering an expense claim receipt. Enter only Yes or No. For bank accounts, this field must be No or left blank.

    5. Enable Payments - Specify if the account you're creating should appear in the drop-down list of accounts when you're entering a payment directly on an invoice, bill or expense claim. Enter only Yes or No. For bank accounts, this field must be No or left blank.

    6. Balance - If you want to import account balances, enter the balances immediately prior to your conversion date. Xero imports positive balances as debits, and negative balances as credits. Xero ignores symbols and non-numeric data, other than negative signs and brackets (showing a negative balance). If you don't want to import balances, leave the Balance column blank.

  5. Save the file as a CSV

  6. In the Accounting menu, select Advanced, then click Chart of accounts.

  7. Click Import.

  8. Select Xero as the system you're importing from when using a Xero chart of accounts template.

  9. Select whether your file includes balances. If Yes, enter your conversion date.

  10. Click Browse to locate your saved file on your computer.

  11. Click Import.

  12. Review the chart of accounts file import to ensure your accounts don't have errors.

  13. Click Confirm.

  14. If your import file includes bank accounts, select your bank account type (Bank, Credit Card, or PayPal) and add your bank account number.

  15. Click Save.

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