Recurring Transactions in Xero

In Xero, recurring transactions are a feature that allows you to automate and schedule the entry of regular, repeating transactions, such as invoices, bills, and purchase orders. This can save you time and reduce errors by automating the process of creating these transactions. Here’s how to set up and manage recurring transactions in Xero:

1. Create a Recurring Transaction:

  • Log in to your Xero account.
  • Navigate to the “Business” or “Accounting” section.
  • Depending on the type of transaction you want to create (e.g., invoice, bill, purchase order), select the corresponding menu option. For example, to create a recurring invoice, go to “Sales” > “Invoices.”
  • Create a new transaction as you normally would, filling in all the necessary details, including the contact (customer or supplier), account codes, and amounts.
  • Before saving the transaction, look for an option that allows you to set it as a recurring transaction. This option may be labeled as “Make Recurring” or something similar.

2. Configure Recurring Transaction Settings:

  • Once you’ve selected the “Make Recurring” option, you’ll be prompted to configure the recurring transaction settings.
  • Specify the frequency (e.g., daily, weekly, monthly) at which the transaction should recur.
  • Choose the start date for the recurring transactions. This can be set to start immediately or on a future date.
  • Set the frequency and interval for the transaction. For example, if it’s a monthly invoice, you can choose “Monthly” and specify the day or date of the month it should occur.
  • Define any end conditions, such as the total number of occurrences or an end date if the recurring transactions should stop after a certain point.

3. Save the Recurring Transaction:

  • After configuring the recurring transaction settings, save it. Xero will use this template to automatically generate and record the recurring transactions at the specified frequency.

4. Review and Approve Generated Transactions:

  • As the recurring transactions are generated based on the template you’ve set up, they will appear in your Xero account.
  • You can review each generated transaction to ensure accuracy and make any necessary adjustments or additions to the transaction details.
  • Once you’re satisfied, approve and save the generated transaction.

5. Monitor Recurring Transactions:

  • Keep track of your recurring transactions within Xero to ensure they are generating as expected and that there are no issues with the automated process.

6. Modify or Delete Recurring Transactions:

  • If you need to make changes to a recurring transaction template or stop the recurrence of a specific transaction, you can do so by editing or deleting the recurring transaction in Xero.

Recurring transactions in Xero are particularly useful for automating routine financial tasks, reducing manual data entry, and ensuring that regular transactions are processed accurately and on time. By setting up and managing recurring transactions, you can improve efficiency and reduce the risk of errors in your financial records.

Please note that the availability and specific features related to recurring transactions in Xero may have evolved since my last knowledge update in September 2021. Therefore, I recommend checking Xero’s official documentation or contacting their support for the most up-to-date information and guidance on setting up and managing recurring transactions in your specific Xero version and region.

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