Pleo and Xero: A match made in accounting heaven
Xero changed the game for accounting software. Pleo is changing the game for expense management.
Put them together and you get the most comprehensive way to manage all of your business spending.
It’s all down to a shared focus on the user, something Xero has built its reputation on.
Pleo is a company spending solution that offers prepaid cards for all your employees. Our software eliminates expense reports and simplifies spending in a way everyone will love.
We also put the user first, in everything from our design to choosing what new features to prioritise to… well, this post.
We know you’ve likely come here because you use Xero and want to figure out if Pleo could work for you.
The short answer is yes. The not-much-longer answer is below.
How Pleo works with Xero
It couldn’t be easier to connect your Xero account with Pleo, including importing your nominal codes and tracking categories.
Our Direct Feed will let you get an up-to-date picture of what’s being spent and where.
Export your data to Xero easily
When you’re ready to push your expenses data to Xero, it’s incredibly easy to do. Any expenses that are missing receipts or codes are flagged.
Make the most of Xero
If you’re already a big fan of Xero, this is a chance to get even more value from the software you’re already paying for.
Setting up your Xero integration on Pleo
The first thing to do is to turn on the Xero integration from within Pleo.
1. When logged in to Pleo, go to Settings. You can find Settings on the menu running down the left hand side of the page, under your profile picture.
2. You’ll see a list of services that Pleo can integrate with. Choose Xero from the list and click on ‘Connect’.
3. You’ll be prompted to grant Pleo access to Xero. Once you accept, you’ll be taken back to Pleo.
4. A Pleo account has just been created in Xero automatically. That simple.
But don’t forget: Don’t change the coding of PLEOBANK and PLEO in your chart of accounts. We need these to stay the same – but it’s for a good reason, honest.
Matching up Xero codes in Pleo
Let’s get started on matching up those expenses in Pleo with the correct accounts on Xero. Doesn’t take long!
1. When logged into Pleo, go to the Categories page.
2. Create and map your categories in Pleo to reflect your Xero nominal codes. Keep categories as straightforward as you can. This will help employees to choose the correct one when they’re using their Pleo cards.
3. Once you’ve applied the nominal code, you will see your default tax code from Xero applied.
How to overwrite VAT in Pleo
In case you want to overwrite the VAT rate attributed to an expense, you can do so easily in Pleo.
1. When logged into Pleo, go to the Expenses page.
2. Find and click on the transaction that needs to be amended. Click the receipt, which will bring it up on the left hand side of the screen.
3. Check the details and overwrite the VAT as required.
How to export from Xero to Pleo
It’s that time again! You’re ready to export your expenses from Pleo to Xero and get a reminder of just how smoothly things are running.
1. When logged into Pleo, go the Manage Expenses page.
2. Select the date range that you want to audit and check. Once you hit Apply, you’ll see a really nifty display detailing what transactions were recorded on what dates.
Along the top are some handy totals too: how much was spent all together, how many receipts are missing and any missing account numbers too.
3. Once you’ve resolved any outstanding issues, click Export in the top right hand corner and select accounting system. Select Xero and all of your transactions will be pushed there.
How to account for transfers into Pleo
Accounting for transfers into your Pleo account in Xero couldn’t be simpler. It might help to think about it as a normal bank transfer between two business accounts.
1. When logged into Xero, go to your Bank Accounts.
2. Click Transfer Money.
3. Input the same transfer (same transfer value and data) as you did in your bank transfer to Pleo. This time do it from your normal business bank account in Xero to the Pleo Account (also in Xero).
4. This creates a “Spent” account transaction under your business bank account in Xero. You can then reconcile it with the matched line from your business bank feed.
5. In Xero, check under Pleo Account. You should see this transfer as a “Received” account transaction. You can mark it as reconciled if it matches the transfer date and value in your wallet page in Pleo.
A little more on the benefits of the Xero-Pleo integration
We recently launched our Direct Feed integration with Xero.
In case you’re not already familiar, that means that, once you enable the feature, all statement data will be automatically imported from your Pleo account into Xero, twice daily (9am and 2pm UK time).
You get greater oversight of business spending, with live data tracking enabling you to make faster decisions and offer more up-to-date analysis.
If you already value Xero, chances are you’ll value Pleo
If you’ve never used any accounting software other than Xero, you might not appreciate just how much it changed what was expected of these systems.
In the past, accountants had faced workdays spent working on dense, dull spreadsheets that just weren’t user-friendly enough.
Xero flipped that. They put the user at the heart of what they were doing and the great design was just one part of it.
They also wanted their users to try tools that were exciting and would help them do cool things. Tools like Pleo.
We’re not sitting still with our Xero integration.
As well as the new Direct Feed feature, we’re working hard to make sure that Pleo and Xero grow together.
And we’re here to help you through the whole process, from first signing up with Pleo to making sure your Xero integration works flawlessly.
How we made it
Pleo is a cool product on its own.
But what kicks it into a whole new level of useful is the ability to integrate (and integrate well) with accounting software like Xero, e-conomic and Sage 50.
We knew that the key benefit of Pleo for finance teams was going to be how much time they could save.
But just how useful was it going to be?
The best way to find out was to test it with our own finance team.
Guillaume Simard, our Engineering Director, cooked up a prototype integration (initially with e-conomic, but with a mind to doing the same for other accounting systems) during a hackathon.
Our finance team loved it and so, as Guillaume puts it, “the next logical step was to bring this joy to our customers.
“It was fun to work on the project because we knew how valuable it would be.”
Xero and Pleo: Customer Testimonials
Xero Marketplace reviews make clear the value of integrating Pleo with Xero.
Plug and play
“Integrating Pleo with Xero saves so much time in my business, where every second counts… Only takes a few seconds to sort everything out and to integrate is so easy”Jason Cairns
“We’ve set up very specific account codes in Xero to map to the account codes in Pleo, which means we have a much clearer idea of what the staff member has bought – so more checking if that spend was subsistence, client entertainment or a travel expense”Lisa Dickson
Helping accountants offer more to clients
“As an accountant focused on business growth and efficiency, we find working with Pleo an amazing experience. One of the key benefits of having Pleo as one of our partners is the product’s integration with Xero. This integration supports our business processes by providing valuable insights to the client but also ensures the painful process of expenses becomes significantly more efficient.”Joe David, Nephos Accountants
Makes your month-end better
“Collecting receipts and coding transactions at the point of sale, has removed a bulk of work at the accounting end of our business. Without the export feature into Xero, it wouldn’t have had the same impact.”Matt Dunkin
“As usual the mainstream banks are rigid and slow to keep up the advancements, it’s companies like Pleo that help businesses progress and move forward these days…. The simple integration with Xero means it’s a perfect solution.”Robert Rowland