If you use credit cards in your business you may want to add them to Xero alongside your other bank accounts. Xero makes this easy to do. In this guide, we will add a credit card to Xero’s demo company.
Bank Accounts Section in Xero
To get to the right area of Xero, go to Accounting → Bank accounts from the main menu:
How to Add a Credit Card
On the main Bank Accounts screen in Xero’s demo company, you should see that there are two bank accounts and no credit cards set up. To set up a credit card, click on the + Add Bank Account button on the left-hand side of the screen:
On the next screen, you will see a Find your bank tool that lets you search for banks and other institutions by name. For this exercise, we will add a credit card for the ANZ bank. Although you should see ANZ in the drop-down list, ignore it and type credit card into the tool. Select ANZ (AU) – Commercial Credit Cards (Direct feed) from the drop-down list:
In the next screen, we need to enter some details for the credit card. For the purposes of this exercise, enter the following details:
- Account Name: type in Company Credit Card.
- Account Type: choose Other.
- Account Number (BSB): type in 000000.
- Account Number: type in 1234.
- Currency: leave as AUD.
- I’ve set up batch payments: leave un-ticked.
As this is a credit card, we have only entered the last four digits of the card number for security reasons.
When you are ready, click on Continue to be taken back to the main Bank Accounts screen. Here, you should see your credit card underneath the other two bank accounts:
That’s all you need to do to add a credit card to Xero.
Next, you may need to enter the opening balance of the credit card if you have already been using it. You can do this by following the steps in this tutorial on how to add an opening balance to a bank account, credit card or PayPal account.
Once you have entered the opening balance, you can go ahead and import the transactions either by setting up an automated feed or by manually uploading the bank statements.