You can now connect Landlord Studio with your Xero accounts. This one-way integration automatically synchronizes all transactions entered into Landlord Studio with your Xero accounts.
Take advantage of the time-saving income and expense tracking and property management tools of Landlord Studio as well as the industry-leading accounting and reporting functionality of Xero.
Note: If you’ve already got your Xero Chart of Accounts, Bank Accounts, and Tracking Categories set up, please check out our guide on Integrating Landlord Studio With An Existing Version Of Xero.
How to Integrate Landlord Studio With A Clean Version Of Xero
In order to push your transactions from Landlord Studio to Xero, you will need a Xero account with a chart of accounts set up and all of your tracking categories prepared.
Step 1: Log in to Xero or create a new account
Note: this integration is for Xero Cashbook and Xero Ledger. Please speak to your accountant to check if you are eligible for this Xero product.
Step 2: Click on “Accounting” in the navigation bar.
Step 3: Select advanced in the advanced settings, star chart of accounts, and tracking categories, this will pin them to the accounting menu.
Step 4: Go to Chart of Accounts
Step 5: Create or import a new chart of accounts.
We recommend using this chart of accounts templates. This can be uploaded directly to Xero and is designed specifically for tracking rental property accounts.
Step 6: Confirm your imported accounts and your bank accounts.
If you used our COA template there will be three existing accounts - you can edit, delete and add new ones later.
Step 7: Add or edit bank accounts
Step 8: Go to Tracking Categories
Step 9: Set up a tracking category called Properties and a new tracking item for each property.
Tracking categories are logical ways for grouping your transactions. Setting these up is essential for fully utilizing Xero’s reporting functionality.
We recommend you set up a tracking category for each of your properties and name it as the property address as shown in the screenshot above. This will allow you to create and filter reports on a property-by-property basis which is essential for understanding your finances and reporting income and expenses at tax time.
Once this is done your initial Xero setup is complete.