Bank Reconciliation - Match multiple payments to one invoice
Ability to match multiple transactions to one invoice, then reconcile it.
Purpose: It’ll save users’ time when they’re doing reconciliation and matching the transactions.
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Sheila Thompson commented
Is anything being done about this problem? No feedback!
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Nick Hulme commented
We are in the same boat. We have over 2,000 transactions each month to match up to our sales invoices and it usually takes around two days to allocate them all. We do not want to move away from Xero, but are looking at alternatives as we know this volume will increase and we do not have this amount of time available each month.
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Leslie Peters commented
I currently receive up to 200 payments on a single invoice and it takes hours to match. Critical. Considering software change.
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Jo Carrazzo commented
On a singular day we may have 20 lines of a bank statement that relate to payment of only one invoice.
Split payments take time if we need to split it 20 times. It would be so much easier and save us so much time if we could reconcile it in bulk. -
Geraint Allport commented
My practice software produces an itemised invoice with different items with different VAT rates listed. Payments via credit card are made on a daily basis. It would be enormously helpfulll to be able to simply tag all the payments on the bank statement and then reconcile in bulk against the relevant single invoice. Perhaps a quick check that the amounts tagged match the invoice?
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Nick Hulme commented
It currently takes us days to reconcile the payments at month end. An essential task but very long winded at the moment. If we could get this down to half a day, our valuable time saved could be spent on something more important.
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Sandra Hamer commented
This feature would make things so much easier for us too. Even if they can make it recognise the name instead of trying to matching the amounts, it would be so much quicker. We have thousands of payments on account which need matching to one monthly invoice. It takes days to do and is so time consuming. It could be something similar to the way Xero picks up credits and lets you allocate them to an invoice. Come on Xero, make our lives easier!
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Sheila Thompson commented
We need to match multiple payments to one invoice. Maybe, going forward, you could look at making this feature available. Potentially we coud have 150 receipts in one month that all need to be allocated to 1 or 2 invoices and having to reconcile each receipt individually takes a lot of time. Once this job gets behind, as it has in our case, it becomes an almost impossible task. We need to be able to select multiple statement lines at once to allocate as a lump.
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Judith Skilbeck commented
Sorry, confused, at the point of reconciling in the bank I cannot see the ability to split for these circumstances, is that something that is only available in some versions or is it hidden in a drop down? Its the solution others are putting forward but many of us seem unable to do it.
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Tony Doyle commented
We have a client who pays one invoice by line, so they make 20 payments against one invoice.
Current solution:
- Click on "find and match"
- Enter search term to search for invoice
- Select tick box for invoice
- Click split
- Accept split on popup box
- Click ok to confirm
- Repeat all steps above 19 more times!It would be so much quicker and less repetitive to be able to tick a box that allows you select multiple payments against one invoice, just as you can select multiple invoices against a one payment.
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Zuzi Seoka commented
This should be a standard in Xero! In our line of work, clients make multiple payments to one invoice and it boggles me that Xero cannot handle this.
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Sandra Hamer commented
This would be a critical addition for us, as we spend a lot of time each month splitting invoices to allocate multiple payments. We cannot change the way we invoice or collect payments.
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Sara Price commented
I have the some issue with multiple transactions to 1 invoice.
We have implemented Expense Manager (www.expense-manager.com) as suited our business needs in relation to our company cards
Expense Manager is an Australian company, looking after both AUS and NZ. Majority of there customers are MYOB, they dont have any customers in NZ that use Xero that are facing the same frustrations we are.
Bankfeed is loaded weekly for users weeks spend, once completed receipt, details etc, its loaded via API to Xero and shows as a bill with multiple lines for each spend.
When we reconcile, we have to split the bill multiple times, so very consuming when you have 30 cards, each with 20-100 transactions per month
Has anyone experienced this and found an easier way to to do this? Any suggestions?
Or any suggestions on a new expense app? -
James Dell commented
Some purchase invoices(bills) have already been paid in several payments meaning that there are multiple statement lines in the bank feed that need to be applied to one bill
E.g. UK post office sends an invoice at the end of each month but takes payment per purchase.
This is currently very laborious as you have to reconcile by using the split function and repeating this for every bank statement line.
It would be excellent to be able to pick one statement line, choose the match but then add several other statement lines to match the bill amount reconciling several statement lines in one go. This would save a LOT of time. reducing a 10 minute job to a few seconds. -
Angela D'Aprile commented
I have a salary payment that was split into two payments. So there is one "match" that needs to cover two payments. I don't have "split" as an option so can not work out how to select two payments and reconcile them to the one bank statement