Agent contras in Xero, done in minutes
When an agent is both your supplier and your customer, you agree a contra and settle only the net. HedgeFlows does the Xero bookkeeping for you — every bill and invoice marked paid, one balance to pay or collect.
Early access
Xero has no contra function. Your finance team does it by hand.
Freight forwarders settle with overseas agents, co-loaders and partners every month: dozens of bills one way, dozens of invoices the other, and a single net payment. In Xero that means marking off every document individually against a clearing account, then paying the balance separately. For one agent that can be 80 documents a month.
- Net payables against receivables, agent by agent
- Every bill, invoice and credit note marked paid in Xero in one batch
- Pay or collect only the balance, in the same currency
- Contra statement sent to the agent for a clean audit trail
- Works with your existing HedgeFlows–Xero connection
Pick the agent
Choose any Xero contact that is both a supplier and a customer. HedgeFlows shows what you owe them and what they owe you, in the same currency.
Select bills and invoices
Tick the bills, sales invoices and credit notes to include. The net balance and who pays whom update as you go.
Send the contra statement
One statement listing both sides and the net goes to the agent for agreement, so there is a clear record before anything is posted.
Settle only the net
Once agreed, every document is marked as paid in Xero against a contra account, and you pay or collect just the balance — through your HedgeFlows payment run or your own bank.
