Automatic bank reconciliation beta

3 results found

1. Allow Multi-Currency Reconciliation Across Different Invoice & Payment Currencies

   Currently, when a supplier invoice is recorded in one currency (for example, INR) but the payment is made from a foreign-currency account (such as USD), it can be difficult to reconcile the transaction smoothly. It would be very helpful if Xero allowed reconciliation of a payment made in USD directly against an INR supplier invoice, with automatic handling of exchange rates and clear tracking of any realised currency gains or losses.

   This feature would be especially valuable for businesses working with international vendors and multi-currency bank accounts, as it would reduce manual adjustments and improve reconciliation accuracy.

   2 votes

   vote vote vote vote

   We're glad you're here

   Please sign in to leave feedback

   Signed in as (Sign out)

   Close

   Close

   vote

   We’ll send you updates on this idea

   1 comment  ·  delete…  ·  Admin →
   How important is this to you?

   Not at all You must login first! Important You must login first! Critical You must login first!

   We're glad you're here

   Please sign in to leave feedback

   Signed in as (Sign out)

   Close

   Close

   Submit Rating
   Idea review  ·  AdminKelly M (Community Manager, Xero) responded

   Hi 👋 your idea is being looked into by our Community team. We'll be in touch soon to update you once your idea has been reviewed.

   Did you know you can join our Xero Research panel to be involved in early testing and research? Find out more and sign up through our website 🙂

2. Enhancement Request for Transactions Reconciliation and Cash Coding

   Dear Xero Product Team,

   I hope this message finds you well. I would like to propose an enhancement to the reconciliation process within Xero that I believe would significantly improve efficiency for all users.

   Currently, when reconciling transactions, it can be quite time-consuming to match multiple received payments or spent amounts against their corresponding invoices or bills. To streamline this process, I suggest implementing additional filter options on the Bank Accounts page, specifically under the “Reconcile” tab.

   Here are the key enhancements I propose:

   1. Filter Improvements: Introduce separate fields for "Spent" and "Received" amounts, as well as for "Bill Numbers" and "Invoice Numbers." This separation will allow for clearer visibility and easier tracking of transactions.

   2. Multi-Selection Capability: For each transaction listed, include a checkbox on the left side. This will enable users to select multiple transactions at once, facilitating bulk allocation or reconciliation against their respective invoices or bills. As an illustration, if a large invoice is generated for 500K or 600K, users often have to match numerous individual payments, which can be tedious and time-consuming. This proposed change will help reduce the manual effort involved.

   3. Cash Coding Tab Enhancements: Similar to the Reconcile tab, I highly recommend adding fields for invoice or bill numbers in the "Cash Coding" section. This addition will enable users to quickly allocate multiple payments to the relevant invoices or bills as needed.

   I am confident that these modifications will significantly reduce the time and effort required for reconciling transactions, thereby facilitating a more seamless and user-friendly experience for all stakeholders utilising Xero. If needed, I am open to discussing this further to clarify my suggestions. Please feel free to contact me by phone for a more in-depth conversation.

   Thank you for considering this enhancement. I am confident that it will benefit many businesses using Xero.

   Best regards,
   
   Waqar Ahmad

   Dear Xero Product Team,

   I hope this message finds you well. I would like to propose an enhancement to the reconciliation process within Xero that I believe would significantly improve efficiency for all users.

   Currently, when reconciling transactions, it can be quite time-consuming to match multiple received payments or spent amounts against their corresponding invoices or bills. To streamline this process, I suggest implementing additional filter options on the Bank Accounts page, specifically under the “Reconcile” tab.

   Here are the key enhancements I propose:

   1. Filter Improvements: Introduce separate fields for "Spent" and "Received" amounts, as well as for "Bill Numbers"… more

   2 votes

   vote vote vote vote

   We're glad you're here

   Please sign in to leave feedback

   Signed in as (Sign out)

   Close

   Close

   vote

   We’ll send you updates on this idea

   0 comments  ·  delete…  ·  Admin →
   How important is this to you?

   Not at all You must login first! Important You must login first! Critical You must login first!

   We're glad you're here

   Please sign in to leave feedback

   Signed in as (Sign out)

   Close

   Close

   Submit Rating
   Idea review  ·  AdminKelly M (Community Manager, Xero) responded

   Hi 👋 your idea is being looked into by our Community team. We'll be in touch soon to update you once your idea has been reviewed.

   Did you know you can join our Xero Research panel to be involved in early testing and research? Find out more and sign up through our website 🙂

3. Auto Bank Reconciliation - Option for manual editing

   Currently when the upload from the bank includes all relevant fields, Xero automatically posts and reconciles. I need to be able to have the option to edit before posting and reconciling as there is additional information - e.g. additional lines for account coding splits, forex etc, that needs to be inputted for each transaction

   1 vote

   vote vote vote vote

   We're glad you're here

   Please sign in to leave feedback

   Signed in as (Sign out)

   Close

   Close

   vote

   We’ll send you updates on this idea

   0 comments  ·  delete…  ·  Admin →
   How important is this to you?

   Not at all You must login first! Important You must login first! Critical You must login first!

   We're glad you're here

   Please sign in to leave feedback

   Signed in as (Sign out)

   Close

   Close

   Submit Rating
   Idea review  ·  AdminKelly M (Community Manager, Xero) responded

   Hi 👋 your idea is being looked into by our Community team. We'll be in touch soon to update you once your idea has been reviewed.

   Did you know you can join our Xero Research panel to be involved in early testing and research? Find out more and sign up through our website 🙂