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Bank Reconciliation - Ability to merge bank accounts

If a Xero client has a credit card that is cancelled due to scam or new card etc, the only option is to create a new bank feed for the card so you can continue to get the data. In this instance, you end up with two bank accounts on your Xero file, both with a balance. At the moment, you can only do a transfer to move 1 balance to the other, than archive the one not needed. It would be nice to be able to merge the two together so that the balance works and the transactions stay together as they are technically the same account. This only seems to occur with credit cards so far that I have seen.

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Carly Duckworth shared this idea  ·   ·  Report…  ·  Admin →
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  • Thomas Nichols commented  ·   ·  Report

    The merging of data tables with identical fields should be relatively straightforward, and I believe it would be very valuable.

    The HAZARD is that when a user has data in two Accounts which should be reviewed in context together, if they are unable to merge accounts, they may either not attempt to do so, or attempt to do so manually with the associated risks. The HARMs are that the user will be frustrated if they can't, or suffer financial loss if they make an error during a manual process.

    In implementation, there is a risk that the user will later realise that they should not have merged the accounts and wish to 'undo' the merge. There is a risk that when the accounts are merged, the user may need to know which items came from which source.

    Thought should therefore go into warnings to users when merging accounts, there should be deduplication support during the process. There should be a visualisation of the before and after before confirmation. There should be an audit trail to demonstrate that a merge happened, and an 'undo merge' button would be ideal; it would need to consider how to approach the issue of post-merge changes.

    After merging, the user should be able to identify easily that the account is one that has been previously merged, and a nice to have would be for the rows to have some indicator to surface which account they were originally from.

    In my case, the issue was that one of my businesses closed, a new one opened, and I had to try and move the records from one XERO account to a second XERO account. 9 months later I'm still unpicking the transactions because multiple new Accounts were created because of new synchronisation to the various API sources.

  • Samuel Eddinger commented  ·   ·  Report

    I have a similar problem when a feed is ended from a bank and then when the new feed is established, Xero considers the bank account a different account since it comes from a different back end feed. This happened to me when my bank changed from Captcha to Cloudfire and now I have a lot of work to do since I cannot merge the information together.

  • Charlie Driver commented  ·   ·  Report

    This is surely a basic feature that Xero should offer. I am disappointed that it is not avaiable.

  • Michael Wills commented  ·   ·  Report

    Data conversion from Qbooks brought in my bank account, but when connecting to my bank, I was not given the choice to connect the feed to that account! The only choice was to create a new account, which created a second account and thus the need to merge. Could easily been avoided, I simply allowing me to choose the account that already existed.

  • Karen Soxsmith commented  ·   ·  Report

    I honestly thought this would be a standard feature and have only just now found it's not. Unfortunately have to go with the workaround of transferring the balance, archiving the old account and working with the new.

  • Koren Wilson commented  ·   ·  Report

    Would be great to be able to merge bank accounts once you have an activated feed from previously user entered entries.