Yes, you can add banking details to a Xero invoice, and doing so helps you get paid faster by removing the need for clients to ask for your bank information. You can add them either to individual invoices or, more efficiently, to your invoice template so they appear automatically on every invoice you send.
Why Add Bank Details to Invoices
Including your bank details on an invoice reduces friction in the payment process. When a client receives an invoice, they can immediately set up a bank transfer without having to email you or search through old correspondence. This is especially useful for businesses that deal with clients who prefer direct bank transfers over credit cards or online payment gateways. It also helps maintain a professional image, as all necessary payment information is presented clearly and consistently.
How to Add Bank Details to a Single Invoice
If you only need to include bank details on one invoice, you can do it directly on the invoice page. Here’s how:
- Open the invoice you want to edit from the Sales menu.
- Click the Edit button (pencil icon) to open the invoice in edit mode.
- Scroll to the bottom of the invoice, where you’ll see a section titled Invoice Settings or Footer.
- Look for a field labeled Bank Account or Payment Details. If it’s not visible, click Show next to it.
- Enter your bank account name, BSB (in Australia), account number, or SWIFT/IBAN (for international payments). You can also add a reference or note, such as “Please use invoice number as payment reference.”
- Click Save to apply the changes.
This method is useful for one-off invoices or when you need to use a different bank account for a specific client.
How to Add Bank Details to All Invoices (Template)
To avoid adding bank details every time, you can update your invoice template. This is the recommended approach for most businesses.
- Go to Settings (gear icon) and select Invoice Settings.
- Click on the Invoice Template tab.
- Choose the template you use for your invoices (e.g., Standard, Professional, or a custom one).
- In the template editor, look for a section called Payment Details or Bank Account. If it’s not there, you may need to add a text field or use the “Footer” area.
- Enter your bank details. You can also include payment instructions, such as “Bank transfer only” or “Please email proof of payment.”
- Save the template. All new invoices created using this template will automatically include the bank details.
Note that changes to the template only affect new invoices, not ones already created.
Common Problems and How to Solve Them
Many users encounter a few common issues when adding bank details to Xero invoices:
- Bank details not showing on the invoice: This usually happens when the bank details are added to the template but the invoice was created before the change. Edit the invoice and manually add the details, or recreate the invoice.
- Field not available: In some templates, the bank account field is hidden. You can enable it by going to the template settings and checking the box for “Show bank account details.”
- International clients: If you deal with overseas clients, you may need to include SWIFT/BIC and IBAN codes. Xero allows you to enter these in the same field, but you might need to add them manually to the footer if the field is limited.
- Multiple bank accounts: If you have more than one bank account, you can only set one default for the template. For specific invoices, you can manually change the details.
Security and Accuracy Considerations
When adding bank details to invoices, keep these points in mind:
- Double-check the numbers: A single digit error can send money to the wrong account. Always verify the BSB, account number, or IBAN before saving.
- Be cautious with public documents: If you share invoices publicly (e.g., in a portfolio), consider whether you want to expose your bank details. You might prefer to use a payment link instead.
- Use a separate account: Some business owners use a dedicated bank account for invoicing to keep their main account details private and to simplify reconciliation.
- Update details when they change: If you switch banks or close an account, update your Xero template immediately to avoid sending outdated information.
Alternatives to Adding Bank Details
If you prefer not to display bank details on invoices, you have other options:
- Online payment links: Xero allows you to include a payment link (e.g., Stripe, PayPal) that takes the client to a secure payment page. This avoids sharing bank details and can speed up payment.
- Email the details separately: You can send bank details in a separate email after the invoice is sent. This is less convenient but may be necessary for security reasons.
- Use a payment portal: Some businesses use a client portal where customers can view invoices and pay online without seeing your bank details directly.
Template
Below is a blank template for adding bank details to your invoice. You can copy this into Xero’s invoice footer or use it as a reference for what to include.
| Field | Details |
|---|---|
| Bank Name | ____________________ |
| Account Name | ____________________ |
| BSB (Australia) | _____-_____ |
| Account Number | ____________________ |
| SWIFT/BIC (International) | ____________________ |
| IBAN (International) | ____________________ |
| Payment Reference | ____________________ |
Sample (fictional):
| Field | Details |
|---|---|
| Bank Name | Example Bank |
| Account Name | Jane Doe Pty Ltd |
| BSB | 123-456 |
| Account Number | 987654321 |
| SWIFT/BIC | EXBKAU2S |
| IBAN | AU1234567890 |
| Payment Reference | Invoice #1001 |
Frequently Asked Questions
Can I add bank details to a Xero invoice without changing the template?
Yes, you can edit the individual invoice and add the details in the footer or payment section. This is useful for one-off invoices or when you need to use a different bank account.
Why aren’t my bank details showing on the invoice?
This usually happens if the invoice was created before you updated the template. Edit the invoice manually and add the details, or recreate the invoice. Also, ensure the “Show bank account details” option is enabled in the template settings.
Can I include different bank details for different clients?
Yes, you can manually edit each invoice to change the bank details. However, the template will always use the default details unless you override them.
Is it safe to put bank details on an invoice?
Generally, yes, but consider the risk of fraud. If you’re concerned, use a payment link instead or set up a separate bank account for invoicing.
Does Xero support international bank details like IBAN and SWIFT?
Yes, you can enter these in the bank account field. However, you may need to add them manually to the footer if the field is limited in length.
What if I make a mistake in the bank details?
If you haven’t sent the invoice yet, simply edit and correct. If you’ve already sent it, contact the client immediately with the correct details and apologize for the error.