Reconciliation - Inter-entity loan reconciliation
Ability to identify transactions that are transferred between related entity loan accounts that have separate Xero accounts.
Purpose: a huge time saver for partners who are dealing with multiple Xero orgs.
AdminXero Team
(Admin, Xero)
shared this idea
-
Brett Wignall
commented
It would literally save Days of time. Needs to include the ability to recognise AUD and non AUD eg NZD base rates so that you can match / reconcile across different currencies
-
Julian Versloot
commented
Back in the 1990's I used a server based ledger system in Australia - Solution 6 (the original - not the renamed MYOB product).
It had the ability to link ledgers together so when I posted a journal for example (my imaginary XYZ Trading entity):
Debit - Accounting Fees
Credit - Loan ABC InvestmentsSolution 6 would then automatically open up the ledger of ABC Investments and post the following entry automatically:
Debit - Loan XYZ Trading.
I'd then need to allocate the Credit side of the entry to close the pop-up.This ensured that inter-entity loan accounts were always in balance, and it saved lots of time.
That was a fantastic feature of the old Solution 6 product, and it would be great if Blue Xero also had this feature.
-
Flynn O'Meara
commented
Totally agree. It could even be presented as a bank account, where transactions created in one entity appear (inverted) in the other entity ready to be reconciled, and vise versa.
-
Antoinette Micallef
commented
This would be a really helpful feature.
It would also be good if I could open different tabs and view our different organizations without Xero changing the organization that is open on the other tabs.
Currently, when I have 2 tabs open, one for each organization, the one that I am not working on will change to match the tab I am on. Having different tabs open for each organization assists me in ensuring that when transferring funds from one to the other in loan accounts, that everything matches as it should.