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Will there be an option to attach the bank statement as a reference? That would be helpful - you can attach files to all other transactions... this should be no different.

Thanks for adding this feature. I'm trying it and I noticed that if you copy and paste a value with a $ in it, it will not paste properly. Sometimes when you copy paste opening or closing balances from PDF it copies including the dollar sign.

Please allow to paste the value with the $ in it.

Also, there doesnt seem to be any way of deleting a draft period. Please consider adding a small garbage bin icon in the period list and inside the period.

Thanks!

All the other accounting software allow you to 'fix' the reconciliation and will alert you if any changes are made that affect the bank balance. This is the main feature I find lacking in Xero. Considering how often aswell there are times when the banks don't sync properly and therefore the balances don't match the actual paper statement I would like to do it and record it within Xero on a more regular basis

Coming from MYOB it totally surprises me too that Xero doesn't have the abilty to reconcile against an official statement issued by the bank (as opposed to just reconciling daily with the bank feeds), for all the reasons already listed in the comments. And to be able to mark it as reconciled, so that you have a record that it has been reconciled instead of having to keep another process going to check when the last reconciliation was done. So I end up printing the reconciliation and put it into Xero files along with the pdf of the bank statement. But it would be awesome to mark it as reconciled within Xero and attach the statement in the same process.

Hello everyone in our amazing Xero family! I'm truly blown away by the incredible accounting software that Xero has developed, with its multitude of outstanding features.
However, I can't help but feel that the lack of a feature for cross-referencing with actual bank statements is quite surprising.

Given the overall advanced nature of the software, I strongly believe that Xero should incorporate the ability to automatically download bank statements, match transactions with those already posted, and provide us with the option to review and ensure a perfect balance match between Xero and the bank statements.

It's important to address the errors currently found in the bank feed and statement importing to ensure a seamless experience for all users.

I have no doubt that Xero can make these improvements, and I'm excited to see the software continue to evolve and impress us all!

In quickbooks there is a reconciling option where you add your starting date, end date and bank balance (which I know Xero has this report), however in quickbooks you can then tick the transactions that apply and anything that hasn't cleared appears unticked (as shown below). Once reconciled if you change the transaction it tells you that it will affect your bank reconciliation. 1) it would be good to have this ticking option as it is easy to see what items are missing from your bank statement) and 2) prompting that any changes to the month will affect your balance is handy.

Xero Thinks a Bank feed is a statement- Considering this was supposed to be founded by an accountant, this is an unbelievably Bad lapse in bookkeeping procedure and a travesty for correct auditing of bank accounts.

Bank Reconciliation - Reconcile against Statement So that we can have entries linked to the statement number.
As xero imports Daily Feeds it thinks a statement starts and finishes that Day

with other sofware I can link each transaction to the statment number issued by bank and they stay linked to that statement number,and recorded in siftware, with start & finishing balances. and leaves any transactions that are not in the date range

To try and fix something with xero i have to go to multple pages that do not go back to reco page, and have to reload everything again to try and get back to statement date range again.

With so much that is well done with xero this is Soooooooo wrong and cumbersome.

A work around is to go to the Reconciliation report. match the dates to that of your monthly statement and input the statement ending balance. allows you to go back to previous months and find errors etc.

Be able to reconcile to the bank statement and have an opening balance and closing balance in order to figure out any discrepancies/adjustments etc.

I have bills that I've loaded into Xero, and which appear on my Xero dashboard, that have already been paid through my business banking account. Why does the system not automatically match these up?

I think this would be very helpful too

When doing a bank reconciliation, I have found it of far more use to be able to enter the balance at bank and have a definite unreconciled balance as opposed to the Xero assumed bank balance. Then to have the option to tick off the entered items for comparative purposes. This is especially useful when clients do their own bookkeeping and the bank doesn't balance and I have to find out why. Quickbooks bank reconciliation facility is very good - something like that would be far more user friendly.

Yes please. I cannot understand why Xero doesn't have a reconciliation process (in the same way you can reconcile an account in MYOB. )

The issues with the way it's done in Xero via bank feeds:

1) When there is a bank feed set up for a credit card. As Rivka said, sometimes the paper pdf statement shows some transactions from the closing date and some of them on the next statement and so it doesn't match with Xero in the Reconciliation Report. In this case we have to manually work out the differences.

2) When a credit card doesn't allow automatic bank feeds. In this we have to import the statements manually. However this causes problems with the pending transactions, and so transactions are often missed. Which once again means having to manually reconcile the statement. (And so therefore, the comment by Kelly Munro is not a solution).

So this means regularly having to manually reconcile the two credit card statements. Which seems to be very backward in a system as sophisticated as Xero.

PDF Bank Statement via Xero Bank Feeds

I don't want to compare, however, with QuickBooks, they seem to be so advanced that when you connect the bank credentials to their feed, it can also extract bank and credit card statements. Wondering if Xero is working on its way to make this possible so we don't have to be going bank and forth with logging in bank credentials and asking these sensitive information from our clients.

Ability to download the PDF bank statements within Xero for bank accounts that are connected for direct bank feeds. It would be nice to be able to do this so we don't have to request the PDF bank statement from clients.