HOW TO INTEGRATE WAY2VAT WITH XERO
SIGN UP TO W2V
WAY2VAT makes it easy for you to reclaim your foreign VAT.
Once you sign up to the WAY2VAT service and set up your Xero integration, your invoice data and images will be sent automatically to WAY2VAT, to be processed for VAT reclaim.
The WAY2VAT Xero integration is a one-way synchronisation with your selected Xero organisation. Our API pulls relevant paid invoice data and images from Xero accounts you have selected as containing foreign expenditure and imports them into the WAY2VAT system.
SETTING UP YOUR XERO INTEGRATION
- Step 1: Find WAY2VAT in the Xero marketplace and click “Get WAY2VAT” to sign up to the WAY2VAT service
- Step 2: Set your user name and password for WAY2VAT, and confirm your email account
- Step 3: Inside the WAY2VAT app, go to Settings > Connections and click “Connect to Xero”
- Step 4: Enter your Xero credentials and select the Xero organisation that you wish to connect to WAY2VAT
- Step 5: Configure the Xero integration by selecting the accounts that include foreign travel expenditure
- Step 6: Click “Import” to import the data to WAY2VAT
- Ongoing: Once connected, following the initial data import, new paid bills are automatically sent to WAY2VAT
USING THE WAY2VAT APPLICATION
After you’ve set up your WAY2VAT Xero integration and you’ve imported data, you will be able to do the following:
- View expenses and their corresponding invoice images
- View the status of VAT reclaims
- Produce a report of your overall VAT reclaim status and potential
Q: How often data is transferred from Xero to W2V?
A: On the first use, we will import historical data. This refers to all the expenses present in the selected Xero organisation which match the criteria for reclaimable VAT. After the first data import is complete, we will go on to import only new expenses which match the same criteria, whenever new expenses are available.
Q: How much historical data is pulled?
A: The “fiscal year” when it comes to foreign VAT is typically September to September, so the integration would pull foreign VAT data back to the previous September.
Domestic VAT typically expires after 4 years, so the integration would pull all domestic VAT data for the previous 4 years.
If you would prefer to start reclaiming VAT from a more recent date than the default, you can custom set the dates for the historical import.
Q: How do you identify foreign travel expenses?
A: Foreign travel expenses are identified according to the chart of accounts that you select when setting up the integration.
Q: How do I disconnect from Xero?
A: You can easily disconnect from Xero through the Xero integrations menu, just like for any 3rd party application.
Q: How can I know which expenses have been qualified and reclaimed?
A: The status of expenses can be viewed in the Expenses tab. You can filter expenses according to their status:
- New – New expense which has not yet been processed
- In Process – An expense which is missing some information and/or pending some updates, such as acquiring an original invoice, matching the supplier, etc.
- Ready for Claim – An expense which was processed and found eligible for VAT reclaim. These expenses are on hold until it’s the right time to submit them to the authorities.
- Lost Potential – An expense which had the potential to qualify for VAT reclaim, but which cannot be recovered due to incomplete information.
- Refunded – An expense which was approved by the authorities and has already received a VAT refund.
Q: Where can I get an overall view of my VAT reclaims status?
A: In the Dashboard, you can view the updated status of all items imported from Xero, whether they’re in process, ready for claim, refunded, or have already been submitted and are pending approval.
You can also get insights into ‘Lost Potential’ invoices, and discover the most common issues preventing invoices from being eligible for VAT reclaim.