The Professional Fee Funding (SOR) Clearing Account in Xero is automatically created by Apxium in your chart of accounts—no manual setup is required.
Each time a client makes a successful monthly payment to Apxium, the transaction is recorded as a debit (DR) to the SOR Clearing Account and a credit (CR) to the client’s invoice(s). As monthly instalments are received, Apxium automatically applies the payments, reducing the outstanding balance accordingly.
This process ensures that the SOR Clearing Account accurately reflects the reduction in liability as payments are successfully collected from your clients. This account represents a contingent liability—funds received on behalf of the client but not yet earned.
How to Allocate your SOR disbursement in Xero
To balance the invoice allocation journal entries from the SOR Clearing Account, the corresponding SOR disbursement must be journaled back to the same account.
When you receive your first SOR (Professional Fee Funding) disbursement from Apxium, you’ll need to set up a bank rule in Xero as per below to ensure these deposits are consistently allocated to the SOR Clearing Account. This is a one-time setup.
In your Xero bank feed, allocate the amount received as a credit (CR) to the SOR Clearing Account by selecting it from the dropdown menu.
You might also see the SOR disbursement as "Direct Entry Credit Item". Click the more details to confirm the SOR Disbursement description.
Create the bank rule as per below.
Who: Apxium
Why: Sale of Receivable
What: Please select Apxium/Onebox SOR Clearing Account from the dropdown.
Once this rule is created, Xero will automatically apply it for all future Apxium SOR disbursements.
📌 You do not need to do anything further with this SOR Clearing Account.