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Silverfin provides two sync options for Xero to meet various accounting needs. This article explains how each sync works and how each one handles transactions and financial year settings.

Table of contents 

What types of Xero syncs does Silverfin offer?

  • Regular Xero sync: ideal for companies without foreign exchange transactions.
  • Xero TB sync: designed for companies with foreign exchange transactions (FX transactions).

How does Silverfin calculate transactions?

  • The regular Xero sync processes each transaction individually. To view these transactions, click the View Ledger button on the account.
  • The Xero TB sync retrieves the trial balance at the end of each period, instead of bringing in detailed nominal data.
  • The financial year start date is defined in Xero, while Silverfin provides the endpoint date for the balance. For example, entering 2022-07-31 fetches the year-to-date (YTD) balance according to Xero's fiscal year definition.

What happens if the financial years in Xero and Silverfin do not match?

Xero's API does not expose foreign exchange adjustments, so the sync may not align if the financial year definitions in Xero and Silverfin differ. To resolve this, make sure the financial years in Xero match those in Silverfin. If aligning the years is not possible, consider using the regular Xero sync, provided foreign currency transactions are not an issue.