How does the Airwallex connection to Xero work?

When you connect your Xero account to Airwallex, you give Airwallex permission to send transactions to your Xero account.  A bank feed will be created in Xero for each currency balance you connect.

The first sync will pull in the transactions from the last 24 hours, and going forward your transactions will sync to Xero hourly. 

What is a sync or bank feed?

Airwallex pushes our customers’ transaction data to their connected Xero account every hour. This is called a sync. So your Airwallex transactions for each currency sync hourly to Xero. All these synced transactions are referred to as bank feeds in Xero. 

The bank feeds are any transactions that affect your Airwallex wallet balance, including deposits via global accounts, conversions, payouts, card transactions, adjustments. Each wallet has its own stream of bank feeds in Xero based on the currency of the transaction. 

You can NOT, however, create separate bank feeds in Xero for individual global accounts or cards. This is because there is no start and end balance/credit in our global accounts or virtual/physical cards, they act only as a gateway for fund flow.

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How will deposits, conversions, transfers and card transactions show up in Xero? 

Deposits
Deposits via your Global Account will sync through to Xero as "received" showing Transaction Date, Reference, Description, Transaction Amount and Transaction Type, see example below:

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Conversions
Conversions performed in your Airwallex account will sync through to Xero as "spent" OR "received" depending on the currency pair combination and which currency balances you have connected showing Transaction Date, Description, Transaction Amount and Transaction Type, see example below:

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Transfers
Transfers performed in your Airwallex account will sync through to Xero as "Spent" showing Transaction Date, Payee, Reference, Description, Transaction Amount and Transaction Type, see example below:

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Cards
Card Transactions made via your Airwallex account will sync through to Xero as "Spent" showing Transaction Date, Reference, Description, Transaction Amount and Transaction Type.

The Reference will include the Company name for Company cards or the Employee cardholder name for Employee cards, as well as the last 4 digits of the card number (this can assist you in setting up rules in Xero to automatically code certain card transactions to specific GL codes, see more information about setting up rules in Xero here). 

Please see the example below:

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Card Transactions using Convert and Pay feature

Card transactions that auto convert from another balance in the wallet will pull from the wallet balance of the default currency. For example, if a transaction is incurred in HKD on a card and the HKD balance in your wallet is empty or insufficient, the card will pull from your selected default currency. The same fields as regular card transactions will be populated in Xero.

See our article: What is the automatic conversions for cards? to learn how to change your default currency. 

See example below of HKD transaction drawing from AUD wallet balance:

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