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For small businesses: Accounting features

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Intercompany Account Bank Feed

There should be an ability to set up an intercompany account using the bank feed function between businesses that are 'connected'. This would save countless hours manually journalling transactions. You should be able to create a transaction in the bank feed, or mark an invoice as paid by the intercompany account and the corresponding transaction should show on the respective other company.

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Luke Martin shared this idea  ·   ·  Report…  ·  Admin →
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  • Jess Wagner commented  ·   ·  Report

    I'm the accountant for a joint venture, we have a Xero file for the Joint Venture, and then another bookkeeping file for one of the participating corporations. There are an assortment of Due to/from transactions for the company and it creates a lot of double entry for me as I must record every transaction in both Xero files manually - it would be ideal if the files could be linked and the transactions made in one file auto generate in the other file.

    Thanks!

  • Wendell Beuke commented  ·   ·  Report

    I would love to be able to link the bank accounts of entities in the same group of companies / entities. If a payment is made from one entitiy to another in the same group , it avoids the manual entry of a receipt in the other. It seems such a simple feature but will make life much easier for entities in the same group...