Xero Direct Deposit Processing SFM US: Chase Account …6629
Click Chase bank account & in the Reconcile or Bank statement tab, you will see the new bank feed transactions.
Recording Direct Deposits (BOQ/SO that have not yet been invoiced in Salesforce)
1. Review the transaction details
• Click More Details, as the BOQ/SO number may appear there.
2. Verify the payment details in Salesforce
3. Record the transaction in Xero:
Who: Company name
What: 2‑8832 Customer Deposit SF
Why: Enter “BOQ #” or “SO #” Do not use “INV” since it has not been invoiced yet.4
4.Click OK
Record/Update the Received Payment in Salesforce & Direct Deposit - EFT File"
Recording Direct Deposits (DEBTORS)
The order has been invoiced in Salesforce (SF), recorded in Xero, and is currently listed under ‘Awaiting Payment
Received payment from DEBTORS.
Xero often automatically matches the deposit with an existing transaction.
However, do NOT click OK immediately.
Always review the details to ensure the match is correct.
1. Open the transaction
When Xero suggests a match, click Find & Match.
2. Review the possible matches
You will see:
Transactions that Xero believes match the deposit
Or, if there is no automatic match, you can manually tick the correct transactions
Note - Remote Online Deposit refers to a payment received by cheque, deposited by Tami–US team.
If you’re unsure about a specific deposit, always ask Tami for confirmation.
3. Check for discrepancies
Sometimes the deposit won’t match due to:
Bank fees
Cents/rounding differences
Multiple invoices included in one deposit
4. If there is a small variation
Create a credit note or bank fee entry so that the deposit amount exactly matches.
This allows Xero to reconcile properly.
5. Reconcile
Once everything matches: Click Reconcile or
Click OK (only when you’re confident the match is correct from Xero but always check)
Creating a Credit Note for Bank Fees in Xero
Sometimes a deposit won’t match exactly because of a bank fee or a small variation.
To fix this, create a Credit Note so the deposit can be matched properly.
To Create a Credit Note
Go to Business → Invoices
Click “New Credit Note”
Enter the details:
Contact: Select the same customer
Description: Bank Fee
Account: Select the appropriate fee/expense account
Amount: Enter the bank fee amount
Approve the credit note.
Match and Reconcile the Deposit
After creating the credit note:
Return to Bank Accounts → Bank Feeds
Click Find & Match on the deposit
Tick:
The original invoice(s), and
The credit note you just created
Ensure the total matches the deposit amount exactly
Click Reconcile
Credit Card Payments Received via Xero (Stripe)
Credit Card Payments Appear at the Account Transactions tab when a customer pays using the Xero credit card payment link (Stripe):
The payment will show up on the bank statement as 3 separate Stripe transactions.
It usually takes 3–5 banking days before these Stripe deposits appear in the Xero bank feeds/Reconcile tab.
Once the deposit appears at the Bank feeds:
You will see “STRIPE” in the payee reference with the net amount received
(This amount is after Stripe fees).
Xero will typically automatically match the Stripe deposit to these 3 transactions.
Click Find & Match: review the matched invoice(s)
If correct, click OK to reconcile
Always verify the match before clicking OK, as Stripe fees can cause variations.
Record/Update internal records:
SF & Direct Deposit – EFT file: enter the exact order/invoice amount, not the net Stripe deposit amount
Xero Direct Deposit Processing SFM UK: SCULPTFORM LTD (30-54-66 • 46027568)
When a received payment appears in the bank feeds:
Record/update the payment in:
Salesforce - Same process as AU
Direct Deposit – EFT file
Process in Xero
-All Sculptform UK payments must first have invoices created by Sabi before reconciliation can be done at the XERO Bank Feeds. Because UK transactions require specific handling due to UK tax rules.
Fill out the details as per attached.
*Invoice date - Deposit received date
*Due Date -Deposit received Date
*VAT - 20%
*Reference - Put the SF SO Number E.g. 17395
Click save/Approve
Then Go the Xero Bank Feed to Appy the payment
Click ok
Or you can process directly from Bank feed same as US but will be 20 % VAT on it
Other process is same as US