Bank | Ability to reconcile period - Regions outside CA and US
Ability to reconcile transactions to a bank statement at the end of a period, and closing it to prevent transactions being deleted or unreconciled in that period.
This feature is currently available to US and CA organizations(https://central.xero.com/s/article/Reconcile-a-period) - This idea is asking for this feature to be extended to all regions.
AdminXero Team
(Admin, Xero)
shared this idea
Hi community, with reconcile period being the most frequently requested feature by our Xero customers in the US and Canada, this feature was released to these regions as a primary. We know in these regions this workflow is more familiar than Xero’s existing bank reconciliation workflow where you categorize and match transactions as you go.
We're evaluating the need for the feature in other regions but at this stage no decision has been made. Our product teams will continue to track the support for this on the idea here, and I'll be sure to share if there are any updates on expanding this feature to other regions.
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RAJAN CHETTIAR LLC
commented
We would like to request the addition of a "Reconcile Period" feature in Xero for users outside the US and Canada. This feature is essential, as reconciliation reports are a key part of our monthly financial processes—from the beginning to the end of each month.
Having the ability to set a specific reconcile period would greatly improve our workflow. It allows for more efficient comparison and reconciliation against monthly bank statements, ensuring accuracy and completeness in our financial reporting.
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Suk Fang Chong
commented
I am surprised that there is no bank reconciliation function outside of CA and US. This function ensures the integrity of financial records by locking in reconciled data, providing a clear audit trail, and safeguarding against unintentional or unauthorized changes after the close of a reporting period. How can this be happened? no plans to apply this feature globally???
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Robyne van Wyk
commented
Please add this to all regions ASAP, makes the reconciliations of bank accounts 100% easier and faster!
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Optimus Fintech
commented
You can seek experts guidance from Optimus Fintech Team - to simplify the reconciliation process outside US region.
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Mandy M
commented
This is an important for all regions. Credit Card statments are always for differeny periods and they are very hard to reconcile and balance at the moment