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In today's era of electronic banking and connected bankfeeds, it seems pointless to have to do a bank reconciliation. The transaction gets fed into the Xero ledger therefore the bank balance should always match what the bank statement says. I know that I have to allocate each transaction using rules or manually, so really they're just "Unmatched Transactions". To have to "Mark as Reconciled" or perform a Bank Reconciliation process seems redundant to me. The notion of Uncredited Deposits or Unpresented Cheques is surely outdated, as this was only to work out what my actual bank balance was at any given point in time (ie when datafeeds were impossible). Could the reconciliation process be done away with?

Or a keyboard shortcut! That would be way faster than

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A system like the Cash Coding system where multiple transactions can be selected and reconciled in bulk.

It would need to be more flexible than cash coding though i.e. searchable and sorted by more detailed data.

Agreed! Especially for those F&B company or those company that have many outlets.

Yes Russell you are right, good to get that clarified. I couldn't work out how a business with bills and invoices can use Cash Coding

I also see someone posted about manually marking transactions as reconciled. This also is not an answer for this topic. Manually marking transactions as reconciled is ONLY for transactions that can not be imported via an electronic bank statement. Most of us use the importation of electronic bank statements. You will mess up your bank reconciliation if you manually mark transactions as reconciled when those duplicate transactions come through via electronic bank statement. I hope this helps!

I'm posting this because a couple of people have responded with "cash coding" as the answer. Cash coding does not resolve what is being asked for here. Cash coding only works to create new spend and receive transactions. Cash Coding does not work for payments against invoices and bills already generated. What we're asking for is to make better use of screen space (or even a scrolling screen) with the ability to "ok" multiple matched payments at one time without a screen refresh between each matched payment. I hope that clarifies it.

Cash Coding already does this.

You can reconcile multiple lines in the Bank transactions tab but you need to enable the function. This article tells you how to do this - https://central.xero.com/s/article/Reconcile-an-account-transaction-without-an-imported-bank-statement#Enableordisablemarkasreconciled

Unfortunately, cash coding is not available if clients are on the Starter plan. :-/

You CAN actually do it with cash coding, but you need to turn that feature on in your account.

https://www.meruaccounting.com/blog/xero-use-cash-coding/

then you can see all the matching items that have been identified through bank rules and select them all and 1-click reconcile all of them.

It works, but you still need to manually shift-click all matching transactions which is clunky.

Still not as elegant or functional as if you had ONE button that says [Reconcile Bank Rule Transactions] and you're don.

For those that are afraid that it might "mess things up" to auto reconcile in bulk... Well... just make sure your rules are right and tight :)

Thank you for Aileen for suggesting Cash Coding.

I already do this through Cash Coding?

It would really save time, especially for those accounts which don't have a bank feed, to be able to multi select several transactions in the account transaction tab and reconcile. We can already multi select to remove and redo, surely we could have a reconcile option too?

I think this would be a great improvement but maybe it should be an 'advisor only' feature to avoid a big mess.

I also have to click the OK buttons thousand times. This would be such a time saver.

A big time saver!

Find & match for bank receipts - there is a tick box for 'select all on this page' ie. 50 - can another box be added for 'select all' (ideally providing the number of invoices in brackets eg 632) - this would allow users to search for a particular customer / reference (of which there may be hundreds / thousands of transactions) & reconcile with one tick

Find & match for receipts - there is a tick box for 'select all on this page' ie. 50 - can another box be added to 'select all' (noting the number in brackets eg 632) - this would allow users to search for a particular customer / reference (of which there may be hundreds / thousands of transactions with one tick )

This would save so much time. We have to click "OK" on literally thousands of transactions each month.

Please build this!

When setting up a bank rule it would be great to have the option to toggle a setting for "automatic reconciliation" of anything that meets the bank rule criteria. Having to click OK through hundreds of similar transactions per day (e.g., online sales) is not efficient. Quickbooks Online has this feature and it is most helpful. Thank you!