Bank Reconciliation | Suggestions - Matching by invoice number rather than amount
Reconciliation to be matched by INVOICE NUMBER rather than amount
Ruth Carter
shared this idea
Hi community, appreciate the interest for being able to match based on the invoice number, even if the amount of the statement line and transaction in Xero differ. While this isn't something we have plans for at this stage, it'll be good to get a sense of the interest for this here.
Just to confirm for everyone coming across - The way suggested matches work currently is based on the amounts of the statement line and transaction being the same and also looking at most of the fields of a statement line and comparing with transactions entered to show a preferred match.
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JOHN KALLINICOS
commented
When importing bank statements from other programs Xero allocates the payments to the customers on the basis of amount in preference to other variables like customer code, invoice number or name of customer. This preference to amount creates a lot of miss matching of payments and requires extreme caution as payments end up being allocated to the wrong customer. The payment should default to invoice number then customer reference then customer name. It should never be allocated by amount owing as this is not unique.
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Jessica Crombie
commented
it would be great to be able to create bank rules for part bill payments such as monthly payments against a larger bill. alternatively suggestions on open supplier invoices that the payment may be related to on the bank feed.
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JOHN KALLINICOS
commented
On further consideration I have to agree invoice number is definitely the best option because it’s unique. It’s a shame Xero seems to think this is not a big deal. The current match based on amount creates a lot of work and errors. It’s a shame they do not understand the problem.
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JOHN KALLINICOS
commented
Invoice number will not necessarily fix the problem but it’s better than basing the matching on amount. In reality it should match in the following order reference, name, invoice number. Amount should never be used as it’s too remote.