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Bank Account Changes Report Showing Contact's Name - Downloadable as a PDF

Would like a report showing a list of bank account number changes. This would show original bank account number, new bank account number, contact's name, date the bank account number was amended and who amended the bank account number and to be able to print this as a pdf. This would be of great benefit because of fraud and also our Auditor has asked if we can produce a list of bank account number changes for a selected period.

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Maree Foster shared this idea  ·   ·  Report…  ·  Admin →
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submitted  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi everyone, while we don't have a direct report for this, some changes we've made to History & Notes in Xero will help in achieving what you're in need of here. 

You can run the History & Notes, filtering by Type = Contact and typing 'Bank account number' in the Search to just view results for this action. 

If needed you'll be able to export your results to PDF or Excel. 

Though the contact name doesn't show on screen, you can right click on the Contact in the report to open the contact's record in a new browser tab, that allows you to inspect details without navigating away from your History & Notes results. 

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  • Les Harvey commented  ·   ·  Report

    Hello,

    I have previously raised a request that an alert be sent our when a bank accout is changed. This is an internal control process is needed due to the prevalence of fraudulent bank account scams.

    This facility is available in payroll, when will something similar in Accounts Payable?

    Regards, Les

  • Peter van Hout commented  ·   ·  Report

    The horse would have bolted by the time you look to get a report on who changed bank account numbers for contacts being paid. In my view, before a bank account number is changed for a contact, it needs to be authorized by someone other than the person changing it and that is also captured in history. While the two people could be working together to commit the fraud you are regarding the likelihood of that occurring.

    You also need a way to check that the same bank account number is not being used for more than one contact. One bank account may have several suffixes so check the main 7 digit account number would also be useful.

  • Tracy McIntyre commented  ·   ·  Report

    Can a BACS report be created for the companies that don't use the bank faster payment facility on Xero. We have recently transferred to Xero from Sage and having a BACS report that you can cross reference employees to their bank details would be helpful. If we have a new start or an employee who changes their bank details, we have no reference to this on the current Xero Payroll Reporting facilities. Currently we are having to record bank details on a separate spreadsheet to facilitate this issue.

  • Karen Nancarrow commented  ·   ·  Report

    It has also been a request from our auditors & I believe it is very important as it is often reported that this is when fraud can occur.

  • Markus Fels commented  ·   ·  Report

    Just raised a Case with Xero addressing the same thing...but they only directed me here.

    Obviously, the whole community is in need of such report, and we do need that for compliance.

    Hopefully, the Xero Team is finally working on it.

  • Justine Driver commented  ·   ·  Report

    Also, can there be an online authoriser to approve that the new bank account number or contact details have been changed correctly - so not just a print out and signed copy - but released and authorised by another xero user the changes are correct.

  • Kate Derrick commented  ·   ·  Report

    Can this please be prioritised by Xero as it is a requirement for many organisations to assist with the management of fraud.

  • Ruth Grealy commented  ·   ·  Report

    I've had auditors with me this week requesting that I supply a report from Xero outlining any/all changes to bank account details of suppliers and contacts. Being unable to comply isn't the best feeling. I am hoping that Xero will develop the capability to provide an audit report in the near future.

  • Reece Jory commented  ·   ·  Report

    Note you can achieve this somewhat using the History and Notes Report (under Advanced menu in accounting). Filter on Contact as the item and then search Bank Account. While it doesn’t show the contact name it does have a hyperlink to the contact that was changed. A reasonable solution until such information is available in a proper report format.

  • Carla Strachan commented  ·   ·  Report

    This is part of good business and reduces risk of fraud. It would be amazing to have such a report.

    Thanks

  • Peter van Hout commented  ·   ·  Report

    It is essential that a business owner checks and approves changes to bank account numbers when these are made for any existing or new contacts to avoid fraud being completed by someone.

  • Anna Rutherfurd commented  ·   ·  Report

    This would be very helpful report to help protect fraud risks for clients, and very much supported by auditors to have available.

  • Maxine Bird commented  ·   ·  Report

    For schools that are audited this is critical to ensuring that the bank account changing is transparent and clearly able to be audited.

  • Coy's Constructions commented  ·   ·  Report

    Yes! Absolutely critical. It's one of the most common aspects of fraud - changing bank details. We need to be able to track this.

  • Kelly Prevost commented  ·   ·  Report

    It is critical internal control to have this information available. It is great to have the notification emails when employee bank details are changed. Why at least can't we have the same for Suppliers? It would be so easy for an accounts administrator to change the bank details of a supplier to their own account. My clients are crying out for this notification. If we could produce an audit report with all bank account changes detailing who made the changes this would be fantastic.

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