- First steps for setting up your business’s bank or credit card accounts in Xero.
- Find out if a direct feed is available to pull in statements from your bank automatically. If not, you can manually import statements yourself.
10 Steps to Add Bank Accounts With Bank Feeds to Xero
- In the Accounting menu, select Bank accounts.
- Click Add Bank Account.
- Start typing your bank’s name:
- If you can select the bank name from the list, feeds are available for your bank. If you’re connecting a direct feed, check the name to use for your particular bank.
- If the name of your bank doesn’t appear in the list, click Add it anyway. This means there are no feeds available for this bank, so you’ll need to manually import bank statements into the account.
- If you see a screen prompting you to log in and connect your bank accounts to Xero, follow the workflow on the screen. Otherwise, follow the steps below to complete the process. This may require downloading and signing a form which you then need to upload.
- In Account Name, enter a name for the account to identify it in Xero. This name is used in reports and displays on the dashboard. Each bank or credit card account name must be unique. If you have different accounts with the same name, change the name to make it different, such as adding a number or letter to it.
- If prompted, select the account type. If your account type isn’t shown, select Other. Bank feeds aren’t available for these account types. If it is a credit card, then select Credit card as the account type.
- In Account Number, enter up to 20 digits.
- Select the currency for the account. If you need to, add a foreign currency to your organisation so you can select it for the account. You can’t change the currency of a bank account once it’s set up.
- If your bank has direct feeds available and you have multiple accounts to add for this bank, click Add another [bank name] account.
- Click Save or Continue.
Pro Tip
Click on the bank account in the chart of accounts to add a unique code to identify it in reports.