EdgeCTP is where a business performs all their day-to-day trading activities, such as client contacting, product making, buying, selling, deliveries, documents + certificates generation etc. Xero is where a business records (accounts for) all their financial transactions and positions + balances, including connecting with bank accounts and associated payments + receipt.
EdgeCTP considers Xero as the reconcilable “books & records, golden source”. Therefore, EdgeCTP only:
- Pulls in ‘static data‘ from Xero to support trading activities. EdgeCTP does NOT bring in account or bank balances because these values are NOT required for trading
- Updates Xero with financial ‘transaction data‘, required to maintain “books and records” quality for accounting purposes, and where necessary, ‘static data‘ (changed or added as a result of trading) is synchronized between Xero and EdgeCTP
The diagram below summaries the data flow categories that pass between EdgeCTP and Xero when the two systems are connected: