Xero Reconciliation Information

Apxium Clearing Account

This is where deposits are being transferred from your bank account and where we pay invoices from.

Apxium Fee Account

If you are passing on the fees to your clients, they are paying more for the invoice than just the face value of the invoice. The Invoice amount goes to the Clearing Account and we journaled those fees into the Apxium Fee account automatically provided that you set up the Xero Rule.

The fee account continues to grow as further payments are made by your clients. You can let it build up or allocate it out against our invoice with the transaction fees on it. You can also tell us to put the fees in a different account in Xero if you wish.

Apxium Unallocated Payments

This is where the invoice payment is taken in Apxium that was not able to be receipted to the invoice in Xero and therefore has been deallocated from the invoice and receipted to the "Apxium Unallocated Account". In most cases, this happens when we processed the payment but when we try to allocate the payment in Xero, the invoice has a manual allocation in Xero.

The purpose of putting the failed payment in the APXUnalloc (unallocated) account is to allow the firm to then allocate themselves as per the particular situation with the payment. Unlike the previous process for failed payments, this process allows the firm to allocate themselves once the other payment is removed. We are not able to allocate it for you, you will need to allocate it from the APXUnalloc account to whichever invoice you wish.

Apxium SOR Clearing Account

This is where the SOR Disbursement is being disbursed when the client accepts the SOR agreement.