Step 1


 On the Portfolio page, head to the portfolio you want to synchronize Xero into. 


Step 2


 From your portfolio screen, click on the "Accounting" tab and select Gateways.




Step 3


On the Gateway page, click on the "Connect" button for Xero and sign in to your Xero account to create the connection.






Step 4


Once the Xero API is connected, click on the Xero logo to view the general ledger account mapping setting. You will need to classify the transactions you want to map from Cryptoworth directly to your Xero account. Make sure to classify the transactions in Cryptoworth using the Cryptoworth Classifications feature. You will need to create at least two classifications. 

Please see this article on how to classify transactions in Cryptoworth:


https://help.cryptoworth.app/support/solutions/articles/70000587075-creating-and-assigning-classifications






Step 5


Head back to the Xero connections by clicking on the Accounting tab and the Gateways button. Then click on the Xero connection.




Step 6


It is important to map the Cryptoworth Classification to general ledger (GL) accounts in Xero if you want to push transactions to specific GL accounts in Xero. 

It is also required to select a default classification from Cryptoworth to represent the Crypto Assets in Xero. Select the default Classification under "Crypto Asset Classification". Once you do this, you will be asked to map that classification to a GL account in Xero. Map the classification to the desired GL account. 

Then you can map other classifications to other GL accounts or leave them unmapped. 


You will also be required to map your Capital Gain and Capital Loss account from Cryptoworth to Xero.

Once you are finished classifying the transactions you intend to map to your Xero account, you can exit out from this page by clicking the "X" symbol on the top right corner.




When mapping accounts, ensure that the Chart of Accounts on Xero that is being used is not locked, otherwise the sub-accounts won't be created on Xero. The accounts that are locked on Xero's COA are the ones with the lock symbol, those accounts will not allow the creation of sub-accounts whilst locked.



Step 7


 Head to the Transactions tab.



Step 8


Select all your transactions by clicking the topmost check box and run a calculation. You will need to run a calculation.





Step 9 


Select your calculation method, in this example, we are using the default Cost Basis FIFO and for the Objective of the calculation, we are using Trailed Start. Click on calculate.




Step 10 


Select the Reports tab, then click on "Tax" in the dropdown menu. 




Step 11 


Select the "Sync to Xero" button to push your calculated transactions to Xero as general entries.



The calculation will queue and once complete, will automatically be updated into your Xero account.


Step 12 


Head into your Xero account and you will see the most recent transactions synchronized from Cryptoworth.