Virtual Bank Your facility

The account represents your Three Peaks facility in your accounting system, allowing transparency of all movement of money. (Collection, unpaid, charges and settlements ) (XERO Submissions only.)

• 1
  Add a bank account Search for the bank “Three Peaks”, then click on “Add it anyway”
• 2
  Complete the Add a bank account form as follow(s).

  Your Reference	Your Facility Reference
  Bank	Three Peaks
  Account Name	Three Peaks (Your Reference)
  Account Type	Other
  Account Number	Your Reference

Suspense Account Settlement/Contra

The suspense account is for Settlement value`s or transaction exceptions not accepted by XERO . The contra entry is the payment to your nominated business banking account * Three Peaks has no interaction on your actual business account.

This account is required and used for fees and settlements via your Three Peaks bank; the money (settlement) will be deposited into your nominated business bank account.

If you already have an existing account, skip this step and use the existing account.

Ensure “Enable Payments to this account” is ticked

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  Add a new Suspense Account
• 2
  Filling in the form

  Account Type	Current Liability
  Code	TPSUS
  Name	Three Peaks Suspense Account
  Description	(Optional)
  TAX	No VAT (0%)
  Enable payments in this account	Yes

Bank Charges Fees on facility

All fees raised on your facility are allocated to the bank fees account.

If you already have an existing bank charges account, skip the step and use your existing bank fees account.

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  Add a new Bank Fee Account
• 2
  Filling in the form

  Account Type	Expense
  Code	TPBANKFEE Example
  Name	Three Peaks Fees Account
  Description	(Optional)
  TAX	No VAT (0%)
  Enable payments in this account	No

Contact Group Debit Order Group

The contact group is to identify your customers for Three Peaks debit orders.

The contact group is used by Three Peaks Portal to identify the contacts on your XERO Accounting system and for Invoice Settlement via Debit Order.

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  Add a contact group
• 2
  Filling in the form

  Group Name

  Three Peaks Debit Orders

Three Peaks Contact System Interaction Contact

As a Third-Party Software Provider, XERO requires the interaction with your XERO Accounting system to use a contact.

Create a contact and set the name as "Three Peaks Contact". No other information is needed.

By creating the contact on your XERO Accounting system, you will allow Three Peaks Portal to interact with your XERO transactions.

• 1
  Add a new contact
• 2
  Filling in the form

  Contact Name	Expense
  Other fields	Not Applicable

Contacts Your Customers

A customer paying by debit order requires a unique reference. The customer account number in your XERO Accounts is used as the reference by default.

1. Account Number of the customer in XERO as a reference.
2. Manual Entry of Reference
3. Invoice Number (as per mandate)

Assigning a customer to the Contact Group

Assigning your customer to the "Three Peaks Debit Order" contact group will enable Three Peaks Portal to interact with your customer account.