Bills: Batch Payments - Batch pay multiple foreign currency bills
Ability to have batch pay for multiple foreign currencies.
Purpose: Because some organisations are dealing with foreign currencies, and it’ll save users time to be able to mark a payment in batch for their customers/clients.
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Carolina Perisse commented
If a suitable solution for handling multiple foreign currency bills is not available, we will be left with no choice but to pursue an alternative system. This requirement holds paramount significance for us as it directly impacts our ability to efficiently manage the regular inflow and outflow of international bills. Therefore, it stands as a crucial necessity for the smooth operation of our business.
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Connie Macaskill commented
The inability to do this would have prevented me from making the switch to Xero at the start of this year. I receive and pay multiple bills in Euro every week
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Alex Axentiev commented
I see! Marking invoices in multiple currencies as paid is a natural part of the workflow we already do so happy to make it available on our platform for free use if this is such a frequent problem for Xero users.
Just email me at alex@hedgeflows.com if you are interested and we look at enabling if there is enough demand.
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MoGio Bookkeeping and Admin commented
Alex, is about marking the the Bills as paid which are expressed in multi currency not GBP and in batches within Xero nothing to do with individual's banks batch payments. In my case anyway.
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Alex Axentiev commented
Thank you very much for your feedback, Sarah and MoGio Bookkeeping.
I would argue it is not Xero but your bank providers that would have to do the work first. I imagine it is hard for Xero to support payments with 100s of payment providers worldwide in multiple currencies, when many banks don't yet support batch payments in foreign currencies (most only support flat file uploads for foreign payments).
At the same time, as you can see from the video, batch payments can be done with Xero invoices - you CAN process batch payments, and we create specific payments for your invoices in Xero, auto-reconciling them (see screenshot). We also can generate remittances for you without you having to wait for the overnight bank feeds. So it CAN be done with your Xero ledger, and as you can see from the reviews for our app (https://apps.xero.com/uk/app/hedgeflows/reviews) - it works for companies looking for a solution to the batch payment issue.
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MoGio Bookkeeping and Admin commented
Alex, I watch the video too. Informative but does not resolve the issue most people have expressed in this thread. Xero please listened to this customer request, it is business critical nowadays with businesses dealing with multi currency! Thank you!
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Sarah Lumb commented
Thanks Daniel, watched the video but this is not the issue I am complaining about.
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Alex Axentiev commented
Have a look at our demo video for payment runs solution that syncs two-way with Xero - https://youtu.be/h5aq8g6_ZT8
Best wishes,
Alex
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Sarah Lumb commented
I am leaving Xero now due to this issue, come on developers sort it out.
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Daniel Harcombe commented
.
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MoGio Bookkeeping and Admin commented
Would save so much time avoiding manual payment of individual transactions!
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Robyne Dole commented
This would save a lot of time
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Tanya Holtham commented
Very frustrating for many of my clients whom use foreign suppliers and have to manually pay each one via their banking, so time consuming.
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Jo Hansford commented
I don't understand why this isn't considered essential. Who doesn't buy at least some things from overseas these days? Even if its only packaging.
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Stuart Grostern commented
I wholeheartedly agree with the comments below, it is such a basic function to be able to pay and send remittances for foreign currency invoices and payments and I actually cannot believe it has not been prioritised and developed already.
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Stephen James commented
As you offer Xero as a multi currency accounts package it doesn't make sense that I can't batch pay multiple invoices in a foreign currency.
I am not creating payments/files from XERO, simply posting a batch payment in another currency. I would also like to email remittance advices in a foreign currency as well.
Please make this available.
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Ag Stephenson commented
People have been asking for this for a long time. For us it is not possible to continue using Xero without this functionality. Are you targeting domestic companies only? certainly seems that way.
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Shannon Rands commented
Here's a conversation from Xero Support. Great timely communication, but the answer is hot garbage. Seems like people have been asking for this: Batch Payments for Foreign Accounts for a long time here, and Xero has no answers.
14 Feb 9:50 PM
Hi SThanks for reaching out.
As you've found, currently it's not possible to include foreign transactions in Batch Payments or Batch Deposits, or pay them to a foreign currency bank account in Xero. This is a request that's already been raised with us and I've found an idea that's similar to what you’re suggesting in our Xero Product Ideas. This is where our customers can share and support ideas for change.
I’ve included a link to this where you can view and support the current idea or create a new idea to share your thoughts.
Xero Product Ideas: Bills: Batch Payments - Batch pay multiple foreign currency bills
Kind regards
27 Feb 3:29 PM
Thanks, but when will foreign currency payments be available in batch form? I sincerely hope this is extremely high on the list of the developers and would like to see this implemented before Spring.27 Feb 6:31 PM
Hi SAs we make such a wide range of changes based on such a wide variety of factors, we can't always provide firm dates for when new services will be developed.
I’ve included some links to some Xero Central articles and the Xero Blog for more information.
Xero Central articles:
Xero releases
Partner Product releases
Xero Blog: How does Xero prioritise product improvements and feature requests?
Kind regards
Today 11:32 AM
Hi, is the batch payment option something that is currently being worked on/address/going to be added in 2023 to Xero? This is a new accounting system for us, and we are incredibly frustrated that foreign currency batch payments are not an option. I see many people complaining about it on the forums. I would hope that this is top priority for Xero developers. I do not find the answers given to me thus far to be even remotely acceptable.
Today 2:24 PM
Hi SCurrently, we're unaware of any updates, development roll out dates, or what stage of development this feature is in.
We suggest adding your comments to the Product idea surrounding creating Batch payments in foreign currency as they're directed to our Product team.
Also adding your vote to the Product idea helps flag that this feature is in high demand.
Kind regards
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Jimmy Hempenstall commented
Where functionality exists for the base currency it should be available for all in a multicurrency system.
The only variable should be the exchange rate and gain/loss posting.
Shouldn't be that complicated and should be standard for a global software solution.
I also need to be able to send remittance advices in foreign currency as well and this is connected I presume.
I am not creating payments/files from XERO, simply posting a batch payment in another currency.
If the batch were single currency restricted, this would be acceptable if that made the code simpler.
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Claire Parker commented
This would be super useful for our business too. I guess the contacts bank account details would need to include fields for SWIFT codes etc. We have several freight forwarders that invoice in both AUD & USD. Would be great to do one batch payment.