Introduction of a "posting date" field for manual journals, sales invoices and purchase invoices
Would be a brilliant idea to add a Posting Date field, independent of the Invoice Date, for all manual journals, bills, and invoices on Xero.
Currently, Xero’s reliance on the Invoice Date to drive General Ledger impact creates significant issues during month-end closes. Specifically:
Financial Integrity: When an invoice dated for a prior (closed) month arrives late, users are forced to choose between accurate aging (using the real invoice date) and accurate reporting (using a current date to avoid altering closed books).
Audit Compliance: A separate posting date provides a transparent audit trail, showing exactly when a transaction was recognized in the accounts regardless of the document date.
Accrual Accuracy: This feature would allow for better alignment with the matching principle, ensuring expenses are recorded in the period they were incurred without sacrificing the legal data on the source document.
Many mid-market and enterprise accounting systems already utilize this dual-date system. As Xero continues to scale with larger businesses, this functionality is essential for maintaining professional accounting standards and preventing "drifting" balances in prior periods.
Sophie Steadman
shared this idea
Thanks for submitting your idea on Xero Product Ideas. We appreciate you taking time to let us know how we could improve Xero for you.
Your feedback will soon be reviewed by our Community team, and in the meantime this can begin to build support with votes from other community members.
If you're interested to see recent releases or get a pulse on what's coming soon see The Long and Short of it. 🙂