The Pin Payments bank feed automatically imports your Pin Payments transactions into Xero to help you reconcile.
If your account is already connected with Xero, but you can't see the Enable Bank Feed button in your Pin Payments dashboard, you may need to disconnect your Xero account then reconnect to update to the latest version.
1. Log in to your Pin Payments account and navigate to Account > Xero.
2. Follow the on-screen instructions to connect your Xero account, unless already connected. You will be prompted to select four Xero accounts:
3. In Account > Xero, click the Enable Bank Feed button. To allow you to reconcile payments from your bank feed, you need to change the ‘Invoice payments and refunds’ account to ‘Pin Payments (AUD)’ or ’Pin Payments (NZD)’ depending on your country. Do this by clicking the ‘Change accounts’ link.
Once enabled, your Pin Payments bank feed will appear in your Xero account under Accounting > Bank accounts. You will need to refresh this page, if it was already open when you enabled bank feed.
After each transfer from your Pin Payments account, transactions from the transfer will be imported into your Xero bank feed.
Transactions will be displayed as two or three bank statement lines:
There will also be a statement line representing the total transfer amount. We’ll use this to reconcile the actual deposit into your business bank account.
Transactions from before your bank feed was activated are not imported.
Once transactions are visible in your feed, click the Reconcile button to begin the process of matching transactions with invoices in Xero. Learn more about reconciling in Xero here.
This is where you find and reconcile payments you have received from us. You do this within the Pin Payments bank account in Xero.
Next you'll locate the transaction fee that was associated with the payment, and associate it to the appropriate account in Xero.
If you are using the Xero add-on with surcharging enabled, there will be an additional bank statement line to represent that your customer paid the transaction fees, labeled 'Pin Payments fees reimbursement...'. These can be reconciled the same way as regular fees, and because they are a 'receive money' transaction, will cancel out the 'spend money' transaction from the other bank statement line.
The final step is to reconcile the total transfer amount in your Pin Payments bank account with the deposit in your actual business bank account in Xero.
Contact our support team to request a bank statement file that can be imported into your Xero account.
It's not possible to connect your Pin Payments bank feed to an existing bank account in Xero that you were using to reconcile payments from us. We recommend that, after you have enabled the Pin Payments bank feed, you do the following:
Yes. Your Xero invoices will continue to be marked as paid following your customer processing their payment online. However, to be able to reconcile the payments in your bank feed against the invoice, you will be required to select 'Pin Payments (AUD)' or 'Pin Payments (NZD)' (depending on your country) as the Payment Account from your Xero settings in your Pin Payments account.
No, the Xero bank feed only works with Pin Payments accounts that have transfers set to automatic.
Please contact our support team.