Xero
Xero/Loft - Common FAQ's
In Article Navigation can be found to the right of this article or via the buttons below Xero Support Xero User Roles Xero Bank Feed Setup Bank Feed Support Bank Account Importing How Data is Shared Loft to Xero GL Posting Xero Income Statement ...
Xero Settings & Mapping
In Article Navigation can be found to the right of this article or via the buttons below Bank Account Mapping G/L Mapping Tax Mapping Batch Post Schedule Setup Office(s) Mapping Chart of Accounts Front End Mapping You’ll notice that you now can see ...
Multiple Brokerages/Xero Accounts Connection
In Article Navigation can be found to the right of this article or via the buttons below Scenario 1 Scenario 2 Scenario 3 As multi Brokerage user or Accounting firm assisting our clients, the new connections in Xero can get a little complicated. ...
Xero Connecting/Disconnecting
In Article Navigation can be found to the right of this article or via the buttons below Connect to Xero Disconnect Xero Integration Multiple Xero Account Connection Connecting to Xero Head to Integrations>Xero Click the green 'Connect Xero' button ...
Xero Contact Mapping
In Article Navigation can be found to the right of this article or via the buttons below Syncing Rules Linked Xero Contact Fields Contact Matching Because we hold accounting records it is important that we do our very best not to duplicate contacts ...
Setup a Xero account
In Article Navigation can be found to the right of this article or via the buttons below Sign up Financial Settings Add Chart of Accounts Add Office Setup Taxes Invite Loft Settings/Mapping Sign up for Xero Navigate to ...
What journal entries does Loft post to Xero?
Processing transactions through Loft automatically generates the accounting entries in Xero. The following descriptions show you the results of Loft activities in your Xero accounting records. Deposits When you post a deposit to Loft you will see the ...
Popular Articles
Adjusting your tax settings
Adding/Updating Brokerage Tax ID Head to your Brokerage menu (the menu with the gear cog), click Edit Settings Add/update your Brokerage's Tax ID Turning on Tax Reporting In your Brokerage Menu>Settings, scroll down to the Allowable tax year field ...
Best Practices for Month End Bank and Subledger Reconciliations
There are 4 steps to completing a month end review and bank reconciliation. Scroll to section 5 for Tips to troubleshoot differences. 1. Complete the bank reconciliation report in Xero. 2. Run the Subledger report in Loft. 3. Run a Balance Sheet ...
RECA Trust payout for Outside Brokerages
The Real Estate Council of Alberta(RECA) may dictate Outside Brokerages to be paid in 2 steps and this article provides help on how to deal with this scenario in Loft. In this example the Brokerage holds $5,000.00 in Trust and will need to pay this ...
Partial Payout
To partially pay a deal, head to the payout commissions page and expand the line item to override the commissions and fees. Once you pay it out Loft will create a new payout line for the balance owing. * Important, if you're backdating your partial ...
How to Enter Commissions Correctly
How to use the Commission Page correctly Sales Price Use either the % or Flat Fee $ fields, if using the % fields, you can then use the Flat Fee/Bonus field to add an additional bonus No Sale Price Must use Flat Fee $ field Each Commission Side ...