If you integrate with Xero and set up Vend gift cards, mapping a liability account is mandatory.
Not mapping the correct account to your account for liabilities in the Xero mappings page will prevent gift card sales and redemption flowing through to Xero.
To use Vend gift cards with the Xero integration, you will need to setup your store so that liability flows through to Xero when gift cards are sold and redeemed.
Follow the steps below:
Map the account to your gift card payment type
This is so that all gift cards sold will post liability across to Xero and that liability is reduced in Xero when gift cards are redeemed.
1. Navigate to Setup -> Apps and click on the Pencil button next to Xero. You should now be in your Vend - Xero Mappings page.
2. Scroll to the Liabilities section. Under the Gift Cards header, select Liability account from the drop down menu. This can be one you have already created in Xero, or click Add New Account to create a new one.
Vend will increase this liability account when a gift card is issued or topped up. Vend will decrease this account when a gift card is used to make a purchase or a gift card expires.
If you are using gift card expiry dates you will also need to choose your desired Revenue account underneath the Gift Cards header.
Setting this up will allow Vend to increase the revenue account when a gift card expires, while liability will be reduced in the Xero account you mapped with gift card liability.
4. Click Save Changes.
Now that this is setup, all gift cards sold will post liability across to Xero and every time a gift card is redeemed your liability will be reduced in Xero.
Liability will flow through to Xero when you close your Register for the day.
To create or make changes to a Xero liability account(s), you will need to login to Xero and navigate Accounting -> Chart of Accounts -> Liabilities, then select the account.