I have added an asset in AssetAccountant™ and I am trying to understand the links through to Xero. For example, how is the bank reconciliation handled? Where should the payment be coded off to inside Xero because I don't want to code the purchase to the Fixed Assets account in Xero only to have Asset Accountant also create a journal recognising that new asset in the Fixed Assets account.
I guess just trying to be clear on how the payment of the asset is handled between the 2 systems.
Use AssetAccountant™ as your source of truth for fixed assets.
Reconcile your bank statement as normal in Xero and this will get the asset into the "draft assets" tab in AA
Choose "Add Asset" or "Ignore" as appropriate in AA
Periodically delete draft assets in Xero to clear out the draft assets list (make sure all assets you want in the FAR are incorporated into AA first though)
AA will post the journals from there