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Manual Journals - Ability to post journal entries to ALL Accounting Ledgers
I agree that there should be no restrictions to posting journals to bank accounts but that should also "extend to CUSTOMER, SUPPLIER and ALL other accounting ledgers too". Its vital and a great time saver. All other established software providers have this facility as standard.

Journal Entries.
Currently you can't do journals to all the ledgers for example Bank Accounts, Customer Ledgers etc...
As an advance user i.e. Accountant it would be great if you could do a journal to any ledger without restrictions which would give much flexibility and speed. These functions are standard in other established accounting software like VT and Sage etc

It seems this has been a request on numerous occasions from companies (over the past few years), but nothing seems to be done. Journals are required to be processed on customer/supplier accounts. Please note this is a critical function as raising credit/debit notes will raise red flags to auditors and SARS And likewise a proper detailed ledger for suppliers and customers are very important!!!

Your users have been asking for this for years. What is the problem? Daily I have to import my clients activity from there POS to Xero. I import a journal entry from a .csv to save a lot of time and minimize mistakes. At the end though I have do a separate receive money transaction. Adding additional effort and an additional avenue for errors. Reading through some of responses from Xero it is obvious that they don't understand that most bookkeepers/accountants don't have online access to the bank accounts to maintain bank feeds. Xero, we are the professionals and we are asking for this. Please make it happen.

I'm wondering now if part of the reason Xero doesn't allow for it is because they want clients to get the more expensive plans. Since folks on the starter plan are limited to 5 bills/month and sometimes the "spend money" function doesn't always suit the needs of what I need to record, they force folks to upgrade rather than giving us the option to make manual journal entries.

I strongly agree with so many of these comments. If (seemingly) all other accounting softwares allow for manual journal entries to be made for bank/cash accounts, why doesn't Xero? There's no good answer to this. Sure, make it an advisor only privilege, but someone surely needs to have the ability to be able to do this within the organization.

You need to remove this limitation and at least allow Advisors (Bookkeepers and Accountants) to post journals directly to bank accounts. I am not aware of any other general ledger software that does not allow users make journal entries to the bank. I have never encountered this limitation in my 30 year career in Accounting. I have a new client who has only been using the Xero software for payroll and customer sales. No expenses have ever gone in the system and the Accountant kept this information separately in their system. Now I am trying to get the bank balances and liability accounts correct but I cannot do an adjusting journal to show the correct bank account balance and match to the Accountants figures.

We are a retail business that uses a drop safe. We move funds from cash-on-hand at the end of the day, to a drop safe. The cash company that manages the drop safe does a weekly deposit into our bank account, minus the fees. This limitation means I would need to sacrifice bank feeds & create a current asset bank account, to handle the drop safe. This creates unnecessary additional work and your workarounds don't solve the problem. At this point, Xero really needs to pick up the socks. The "value" we moved to Xero for is gone but the subscription will have you believe it's still there.

Agree, it is absolutely absurd that Xero neuters what should be a very powerful tool. This needs to be fixed asap.

New user, experiencing the same limitations, ugh. The bank deductions for payroll include officer & employee salaries, which we have to report-out separately for the Tax authoritays. Wish I could just go into the GJ and create these with split entries for payroll, but there does not seem to be a way since the "Bank" designation restricts from GJ entries. I came from QB Desktop which is feature rich for small-medium biz, QBO is too dumbed down imho and Xero is also throwing up limitations that don't need to exist.

This is definitely v frustrating. We have just moved over and the first company I am in needs this to be a feature to save manual work. Importing journals is a large part of the day to day transactions for me so now having to balance them by using a 'holding' account and then transferring this money over in the bank rec is a very peculiar way to do things.
No system I have ever used has this rule? Equally, why can we mark transactions as reconciled manually in the banking screen but actually not reconcile manually via journals in the first place?!

I also find this frustrating. When entering YE Adjusting journals, we need to be able to code directly to the subledgers (in QBO you can do this, there is a subledger acct field on the JE line so it can tag to the correct supplier/customer, and you can't post the JE without populating that field).

It also allows you to flag the JE with a checkbox indicating it is an Adjusting entry and it appears in the "Adjusted Trial Balance" report, where you can see ALL of the adjusting JE's and verify.

I am not aware of any other general ledger software that does not let users make journal entries to cash. I have never encountered this limitation in my 30 year career in accounting. Standing out like this is not a good thing for xero , they need to eliminate this limitation.

Enable manual journal entries to post directly to the bank accounts and accounts payable.
AP: You cannot create a supplier credit like recommended if you are only recording opening balances & have no other information.
Bank Accounts: YE entries are sometimes posted to a bank account to record transactions that were unavailable at the time to rec the bank for the new fiscal year.

Wow this is crazy. I was really impressed with Xero and wanted to start my own practice sometime and focus on Xero however.... Not sure now. Seems like this system has quite a few limitations including Hubdoc. It's horrible compared to Dext.

I should have read this before signing up the subscriptions. Luckily its not too expensive and will work on QBO until XERO fix this non-sense.

Working in both Xero and QBO I'd love to see this fixed.

Xero's preferred payroll provider in the US uses bills for a workaround. The way JE come into the bank feed in QBO is much more seamless than how Gusto comes into Xero.

Xero bills must be split manually, and 2 transactions matched to the bill.

In QBO, all transactions are matched and it just needs to be approved. While this doesn't sound like a big deal, it would make things more efficient if Xero could do the same thing.

The workaround would be for Gusto or other payroll providers to only match one transaction to the bill, but this isn't how it has been working.

Or if Xero was smart enough to auto match 2 bank transactions to a single bill.

I agree that this would be very helpful not only with bank accounts but also with accounts recieveable and payable.

I want to add to what Scott noted. As a user of QBs (and a Controller) for many years and just now using Xero, I don't agree with not having this functionality. It is a critical function to be able to record journal entries to cash. From my example, we factor our invoices so there are various dates from when the invoice is prepared to when the invoice is factored and payment is received. I need to record journal entries upon the specific dates of flow through of the factored invoices, which require entries to cash.

I AGREE! What kind of **** is this, I hate this function. There should be a way for accountants to turn on the ability to make journal entries to a bank or cash account easily.