Powering the world’s best retailers

Lightspeed Retail – Accounting for Xero

Sync your sales data directly from your POS to your accounting software and reduce errors whilst saving hours of time. Available on Standard and Advanced plans or as an add on.

Cut down on wasted time and avoidable errors

Lightspeed Accounting integrates with your existing accounting software, housing all of your accounting data in one, single location

  • Track profitability in real-time: Cost-of-goods-sold (COGS) post to Xero and are tracked as your goods are sold. View your profitability against your wages, rent, marketing, and other expenses to understand your true performance.
  • Automatically sync daily totals: Save time and money. Daily sales, account sales, payment totals, inventory orders, COGS and customer details sync to Xero. Remove manual data entry and eliminate human error.
Illustrated image

Reconciliation and reporting made simple

  • Streamline bank reconciliations: Xero uses Lightspeed daily totals to recognize merchant payments coming into your accounts. Account sales and stock orders can also post to Xero. Reconciling is as easy as hitting OK.
  • Report on financials across stores and channels: Map your tracking categories into Xero, giving you the info you need to see and compare the performance of all your stores and sales channels.
Illustrated image

Seamlessly integrate your POS & Accounting

  • Lightspeed supercharges your Xero reports. Track products, employees and customers and monitor your business health and profitability. Integrate with Tracking Categories to monitor performance by outlet and channel.
  • Reduce risk. Easily view any discrepancies between banked cash deposits and daily cash totals sent to Xero — including cash payments, petty cash withdrawals and float movements.
  • Sync your contacts between Lightspeed and Xero. Any changes you make to customer information in Lightspeed will automatically update in Xero.
Illustrated image

Keep your financials in check

Enjoy reporting as simple or complex as you like it, so you can focus on growing your business.

  • Get a real-time view of your cashflow and reconcile in seconds
  • Log in online anytime, anywhere on your Mac, PC, tablet or phone and see up-to-date financials.
  • Use our mobile app to reconcile, send invoices, or create expense claims – from anywhere.
  • Xero imports and categorises your latest bank transactions. Just click OK to reconcile.
  • Get paid faster with online invoicing
  • Send online invoices to your customers – and get updated when they’re opened.
Illustrated image

How you’ll benefit

Stay on top of your numbers

See an accurate snapshot of where your business and P&L is sitting at the end of each day.

Centralise your data between POS & accounting

Have your sales and inventory data accurately reflect on your accounting platform.

Cut down on book keeping costs

Save hours on manual data entry and reconciliation.

How does it work?

Your time is worth just as much as your money. Connect your systems to create a thriving business ecosystem and enjoy the benefits.

  • Your total sales sync to your accounting platform at the end of each day
  • Included are total amounts attributed to each category
  • You can also see totals for each individual payment method: cash, credit card or gift card
  • This data is logged as a manual journal entry
Illustrated image

Integration Features

  • End of day register closures: Automatically sync daily sales totals, payment type totals and invoices to Xero, ready for bank reconciliation.
  • Cash management: Cash payments, petty cash withdrawals and opening and closing float balances from Lightspeed also automatically sync to Xero.
  • Cost-of-goods-sold (COGS): COGS automatically sync to Xero and are recognized as they are sold.
  • Account sales: Each time you make an account sale, an accounts receivable invoice will automatically post to Xero using customizable payment due dates.
  • Bulk account payments: Pay off multiple account sales or layaways against a single customer in a single transaction in both Lightspeed and Xero.
  • Stock orders: Send supplier inventory orders from Lightspeed to Xero as accounts payable invoices. Keep track of and reconcile any outstanding purchases.
  • Integrated retail: Invoice your customers from either Lightspeed or Xero. Receive payments and manage balances in either platform.
  • Account mapping: Use product level account codes to assign the sales and purchases of products to specific accounts in Xero.
  • Manage contacts: Import Xero customers and suppliers into Lightspeed. Update your customer information in Lightspeed and it will automatically sync to Xero.
  • Track liabilities: Loyalty and gift card transactions post to Xero with register closures for easy management of liability.
  • Tracking Categories: Report on transactions by outlet or channel by mapping Lightspeed to Xero Tracking Categories.

In terms of just admin, Lightspeed saves us two hours a week.

Jill Bowden

Co-owner of ShooShoos

1 location with Lightspeed

Illustrated image