Multicurrency- Batch payments of Foreign Currency Bills.
Batch payments of Foreign Currency Bills.
Dear Xero,
Please consider the feature of being able to batch up foreign currency Bills. We often pay multiple invoices in one go, having to reconcile and mark as paid 10 invoices is extremely time consuming.
Hi everyone, thank you for all the interest and we appreciate the needs for those using foreign currency to have more efficiency in how you process these bills for payment. Your feedback and votes here have not gone unnoticed - We have a team that have been doing some ground work in this space and at this time we have beta that we'd like to invite any UK customers to join and feedback to our team on the experience. If you'd like to be a part of this please fill in our form here and we'll be in touch.
We appreciate this idea is farther reaching than UK alone and while the beta is limited to this region for the time being, based on results we will look at expanding this to other places.
We'll keep you updated of further developments here.
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Optimus Fintech commented
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Claire Parker commented
I also agree with Andrew. Xero, you have missed the point yet again!
We pay our FX directly through NAB to take advantage of the exchange rate fluctuations. All we want from Xero is the ability to do a batch for those paid invoices so we can send remittance advice on the day and not wait until the following day to reconcile the bank. We also 'pay' a lot of foreign invoices via a clearing account as it comes off our remittance for invoices we've issued. We do not actually make the payment but would like to use the batch method to record it. -
Clare Wilson commented
Agree with Andrew - I don't think making the payments via Xero is the focus - being able to match a payment out of the bank to multiple currency invoices would be the ideal solution.
We pay all our FX suppliers via Convera, we do daily payments which can be 1 to 50 invoices at a time - it is frustrating when you have multiple currencies as we then have to go into each invoice, mark it as paid, then go and reconcile.
If we only pay one currency, we are able to select all of the invoices being paid from the reconciliation screen which is a much quicker process. -
Andrew Finnie commented
I don't believe this is what is being asked for. You seem to be offering a method that relies on payment via Xero's chosen provider Crezco. What we need is the ability to batch foreign payments in USD or EUR from an existing GBP bank account in Xero. This would mean we can post payment and send remittances when making payments, rather than having to wait for the GBP payment to show up in the bank feed and reconcile it so the payment is posted and remittances become avaialble.
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Kelly Britton commented
Where’s the form for Beta?
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Antona burgras commented
Please consider the feature of being able to batch up foreign currency Bills. We often pay multiple invoices in one go, having to reconcile and mark as paid 10 invoices is extremely time consuming.
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Lee Mathers commented
Adding our vote to this feature. It is somewhat amazing that Xero charges a preimum for its service, but then ignores pretty simple and basic functionality for years. The first comment on this feature request dates back over 2 years.
Possibly part of the frustration with Xero is that there's zero road map or information provided to its user base as to when these features are likely to be considered, built, tested, released etc. So that builds resentment.
But there's obviously enough new customers signing up that they don't care if they start to lose some because features like this never get built and they treat us like mushrooms with respect to communcation.
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TRINET FINANCE commented
Is there any update on the functionality for multicurrency batch payments of foreign currency bills? This is a fundamental feature that should be provided, especially given our subscription.
It is extremely time-consuming to process foreign currency payments one by one. Could you please clarify what the software development team is doing to address this issue?
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Jo Davison commented
I can't believe that this hasn't been sorted out. How else can we get a batch payment file to upload to the bank Xero? Is it on a road map anywhere yet? It is fundamental for most firms already paying for your foreign currency plan
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Danielle Hammac commented
This is a critical need. The inability to batch pay foreign currency creates a significant bottleneck for our clients with international activity. So much so that we are considering not using Xero for these clients as other platforms do this (and foreign currency JEs). The time it takes for our team to work through and around these limitations is significant and clients are not happy with the passed-on billing costs of our extra time.
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Monica Brewer commented
We have been processing payments in Foreign currency pretty much since we moved from MYOB to Xero.. The fact that we cant process a batch payment when you can process single invoice payments is beyond ridiculous and a big disadvantage when our overseas suppliers need a remittance to be sent with the payment. Makes Xero look unprofessional
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Matt Woodbridge commented
Seems like a pretty basic requirement - i was very surprised this wasnt possible.
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Dean Hodgett commented
Can't understand why this wouldn't be available when it can be done in domestic currency. Would be a massive help to have this consistent across all currencies used.
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Tina Hart commented
Very inconvenient not having this feature. It would be good to have this again
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Peter Hall commented
This would be a great time saver if it can be added.
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Ken Leech commented
I have a bank account set up in the foreign currency. Surely I should be able to pay invoices in bulk from that bank account that is in the same currency? I can understand it being complicated if you are paying suppliers in multiple currencies, but if all invoices are in the same currency and the bank account you are paying from is in that currency this should be easy peasy!
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Darren Davis commented
At the very least i need to send remittance advise to US suppliers listing all invoices that have been paid in a pay run. I understand it is difficult to make this a batch file payment to overseas accounts. The option to batch pay and send a single remittance should be an option.
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Hannah Green commented
This would be a great time saver when dealing with foreign currency payments.
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Cody Herdman commented
Please add - would be a very useful feature and massive time saver!
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David Campbell commented
this is needed, most companies in Australia need to deal with foreign companies