OverviewGymMaster now integrates with Xero accounting software, making the management of your accounts easier than ever! You can now easily export your financial data recorded in GymMaster directly to Xero for reconciliation and keeping on top of your buisness.
Please note that this integration is currently in BETA so not all automation feature are active.
Initial SetupBefore we begin, you should know that in GymMaster, each club is treated as a separate financial entity. If you have multiple locations, you must go through the below process for each of you clubs one at a time.
Step 1) Connecting GymMaster to XeroFirst, we need to connect GymMaster and your Xero account so they can exchange data. Head over to the Integrations page on GymMaster found in your Settings dropdown, and move to the Xero Integration page. If you have multiple Xero accounts, please make sure you are logged out of Xero to ensure you connect GymMaster to the right one. Click on the ‘Connect to Xero’ button, and follow the on-screen instructions. Once that is complete, you should see the below image.
Step 2) Select CurrencyGymMaster currently only allows for one currency per site. As Xero can allow your Organisation to operate with multiple currencies, you will need to set up which currency all the financials will be exported as. If you only have one currency on your Xero, only one options should show up in the drop-down.
Step 3) Assign Xero Codes to GymMaster RevenuesWith the connection complete, you can begin mapping Xero codes to your Revenue streams in GymMaster. Theres a lot of customization here if you want it, but the quickest settup is to just select a Xero code for each of the major Revenue streams; Divisions (membership sales), Product Sales, Services, Class Bookings, Miscellaneous Revenue. The first four will be self explainatory, but the Miscellanous Revenue section groups things like;
- Mainenance Fees
- General Sales in the Point of Sale
- Suspension Admin Fees
Step 4) Assign Xero Codes to GymMaster PaymentsNext we need to set up where the payments recorded in GymMaster go. As GymMaster does not record your transaction or processing fees, these need to go into Clearing accounts in Xero. You can renconcile these fees against your billing provider and bank statements in Xero. You can customize which payment types are shown here from your GymMaster Settings -> Financial Configuration. Most gyms should only have Billing enabled, but if you take Cash/Credit Card payments over the counter too you will need these as well. Clearing accounts in Xero should be set up with the following, or as seen in the picture:
- Enable Payments to Account ticked (mandatory)
- Current Liability as the Account Type (recommended)