How to Use the Summ (formerly Crypto Tax Calculator) + Xero Integration
Managing crypto transactions for your business just got easier. If you're on a Summ (Summ) Business Plan, you now have access to a powerful integration with Xero — one of the leading cloud-based accounting platforms.
This integration allows you to seamlessly export categorized crypto transactions from Summ into Xero, helping streamline your bookkeeping and simplify your accounting workflow.
What You’ll Need
A Summ Business Plan
A Xero Blue account
Why Use Summ with Xero?
Summ helps you import, categorize, and manage all your crypto activity. QuickBooks Online provides a robust accounting platform to handle financial reporting, tax tracking, and general business health.
When combined:
Summ manages the crypto-specific bookkeeping
Xero handles broader financial and tax accounting
How to Sync Summ with Xero
1. Import & Categorize Transactions in Summ
Start by importing your crypto transactions into Summ. The platform automatically recognizes common transaction types such as:
Trades
Income
Mining
Staking rewards
And many more
You can manually categorize transactions as needed to ensure accuracy before exporting.
2. Connect Summ to Xero & Map Accounts
Once your transactions are categorized:
Navigate to the Accounting Integrations tab in Summ.
Under Connect Integration, choose Xero Online.
Follow the prompts to authorize the integration and link your client’s Xero account.
After connecting, you’ll need to map Summ’s default accounts to your Xero Chart of Accounts.
Default Account Mappings:
Summ Account | Purpose |
Cash Account | Represents fiat received or paid when selling or buying crypto. (Crypto-to-crypto trades don’t affect this account.) |
Fee Account | Captures fees paid on transactions. |
Realized Gain Account | Tracks profits from the disposal of crypto assets. |
Realized Loss Account | Tracks losses from crypto disposals. |
Missing Purchase History Account | Used when an asset is acquired without an associated payment (e.g., airdrops), with cost basis calculated using market value. |
These mappings ensure exported data flows into the right accounts within Xero.
3. Choose Export Settings
Before syncing, customize how your data is exported:
Rollup Settings: Choose how to bundle journal entries:
None – Export every transaction individually
Daily – Group transactions by day
Monthly – Group transactions by month
Allow Transactions with Warnings: Toggle this on if you'd like to sync transactions from Summ even if they contain warnings.
4. Export Transactions to Xero
Once mappings and settings are configured:
Go to the Transactions page in Summ.
Use the filter options to review transaction statuses:
Synced – Already exported to Xero
Ready to Sync – Categorized, mapped, and ready for export
Not Ready to Sync – Unable to be synced due to missing mapping
Out of Date – Previously synced but has since changed in Summ. This can happen when making manual changes to an already exported transaction or making a change that affects that transactions cost base.
Failed – Attempted sync failed; retry or contact support
For each transaction:
Click into it and select Chart of Accounts
Assign the appropriate account for each asset
Click Sync to Xero on the right side of the transaction
To export in bulk:
Select multiple transactions
Use bulk tools to apply mappings and sync all at once
Summ will then create the appropriate journal entries in Xero, aligned with your mapping and grouped based on your export settings.
Integration Benefits
✅ No more manual data entry
✅ Accurate and consistent account mapping
✅ Easy reconciliation of crypto with business records
✅ Streamlined tax prep and audit readiness
✅ Clean, professional financial reporting
Important Reminders
This integration is exclusive to Business Plan users on Summ.
Ensure your Xero Chart of Accounts is fully set up before mapping.
Sync regularly to maintain accurate and up-to-date records in both systems