Creating Tax Rates in Tofu
Step 1: Create or Add a New Tax Rate
Go to Entity > Settings > Accounting > Create Tax Rate,
ORcreate it directly from Invoice Review by selecting a document and clicking Tax Rate dropdown > Create New.
Fill in the details: Name, Components, and Rate (up to 4 decimal places).
Step 2: Verify in Your Accounting Software
Check if the new tax rate created in Tofu has synced to your accounting software:
Go to Organization > Tax > Tax Settings > Manual Tax Rates and confirm the new tax rate is listed.
Note: The create new tax rate option will be hidden when Xero Organization was set to No Tax.
Creating Chart of Accounts in Tofu
Step 1: Create or Add a New Account
Go to Entity > Settings > Accounting > Create Account.
ORcreate it directly from Invoice Review by selecting a document and clicking Account dropdown > Create New.
Fill in the required details:
Account Code, Account Name, Account Type, and (optional) Description
Step 2: Verify in Your Accounting Software
Check if the new account created in Tofu has synced properly:
Go to Organization > Accounting > Chart of Accounts and confirm the new account appears.
Note: account code and account name need to be unique, Tofu will warn you if the ones you typed in already exist.
Creating Currencies in Tofu
Step 1: Create or Add a New Currency
Go to Entity > Settings > Accounting > Create Currency
ORcreate it directly from Invoice Review by selecting a document and clicking Currency dropdown > Create New.
Choose from the list of available currencies.
Note: Once a currency already exists, it will no longer appear as an option to select. Also, the create new currency option will be hidden when Xero Organization was set to Single Currency.
Step 2: Verify in Your Accounting Software
Check if the new currency created in Tofu has synced successfully:
Go to Organization > Accounting > Accounting Settings > Currencies and confirm the added currency appears.
Creating Contacts in Tofu
Step 1: Create or Add a New Contact
Go to Entity > Settings > Accounting > Create Contact
ORcreate it directly from Invoice Review by selecting a document and clicking Currency dropdown > Create New.
Fill in the required details:
Contact Name, Currency (optional)
Note: Currently, Xero doesn't assign whether the contact is a supplier or customer, so it won't be selectable in transactions yet.
Step 2: Verify in Your Accounting Software
Check if the contact created in Tofu has synced successfully:
Xero: Go to Organization > Contacts > All Contacts and confirm the new contact appears.
