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Reports & tax

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Reports & tax

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41 results found

  1. Ability to process a manual journal in foreign currency and to pull the exchange rate on the date of the journal.

    Purpose: It’s beneficial for organisations who are dealing and operate with multiple currencies

    393 votes

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    Hi community, first off thank you for contributing and detailing why posting manual journals in a foreign currency is of interest to you all.

    We appreciate our customers would like to see more capability in accounting for and dealing in foreign currencies across Xero.

    In it's current form Manual Journals are a part of Xero that require some upgrade to uplift technology in order to provide capability for ideas like this to be considered. We have intentions of bringing attention to this over the coming year, however getting this done first is necessary before we can even think about adding newer functionality like journaling in another currency to the mix.

    To set the expectation here, there is no work planned over 2023 for this feature. We know it's of high interest and when we're in a place to reassess we will share with you here.

  2. The ability to assign contact in manual journals.

    Purpose: To enable to track journal entries with contact name

    304 votes

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    Hi team, we're pleased to share that this work is now underway.

    Our intention is to allow you to associate a contact per line in a manual journal.

    We appreciate there is a lot of interest in progress for this feature and I'll be back to share as soon as we have more news to update you on, here.

  3. Ability to set as default whether the "Show journal on cash basis reports" should be ticked or un-ticked on manual journals

    Purpose: Because accountants that does the annual journals for clients who do their own GST we don't usually want these journals to show the late GST claims

    277 votes

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    Hi team! We've been following the conversation here and appreciate you taking the time to explain the need for this feature.

    We understand you’re looking for a way to change the default setting for the ‘Show journal on cash basis reports’ checkbox in manual journals, so that it’s unticked, and that having this box ticked by default can create inaccurate cash basis reports, which is particularly challenging when you’re correcting entries or dealing with a high volume of journals.

    We may look into this with a finer lens further down the line, but want to share that there's no immediate works planned to enable changing the default for whether a journal is Cash basis.

    As many of you have noted, right now you'll need to manually untick the box for each journal entry.

    If any change is planned for this we'll be sure to share with you all, here.

  4. Remove the limitation on posting manual journal entries to bank/cash accounts. I end up spending way too much time on manual workarounds (payroll entries for example, you have to use a "bill" to replace the functionality of a journal entry). It ends up taking way more time working around the limitation than its worth. As a new user of Xero, I'm incredulous. I've worked with multiple accounting software platforms over the years, and never been exposed to such a massive limitation like this. It's almost a dealbreaker, and for some clients it certainly is. I've been looking for a viable…

    141 votes

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    Thanks for the added detail, everyone. It's good to be able to share this detail back with our teams.

    Appreciate why Bank Rules won't help for cash accounts and where you don't have a bank feed coming into the account.

    Being open, this isn't something we have plans for changing in the short-term. We'll leave the idea open for our product team to continue considering how we could improve efficiency in some of the situations you've described. If there are any updates we'll share this with you all here.

  5. To have an option to automatically update the reversing journal.

    Purpose: To save time and help avoid errors in updating both entries.

    56 votes

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    Hi community, thanks for your input and support into this idea for auto updating related journals when an auto-reversing journal is edited. 

    While the team began to look into work involved, priorities have shifted and this is not something we'll be looking to develop at this time. 

    We'll move the status back to submitted and keep you informed if there is any movement.

  6. The 300 line cap for importing journals is completely pointless and shortsighted. With MTD rules requiring digital links, importing of journals/transactions has become vital, yet Xero still retains this nonsensical limit. We are forced to manually intervene and adjust where journals are too long (makes a mockery of MTD). Excel can handle over a million lines (and has done for ~20 years now). Sage manages 999 (still limited in this day in age). Somewhere between the two would be great!
    Keep up Xero.

    34 votes

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  7. It would be beneficial to add an option for the projects to the manual journals

    27 votes

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  8. Adding description when users export Manual Journals in PDF.

    Purpose: Users’ can have better notes, as they can see the description in the PDF document.

    24 votes

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    Hi team, we appreciate the conversation however we want to be open that we don't have any short term plans for changing the export of Manual Journals in the near term.

    Not getting a lot of community support over time, this idea will soon be removed. If it something you feel very passionate about you are welcome to restart and see if there is renewed interest from the community.

  9. The template for importing journals is setup tax inclusive, but once imported, Xero defaults to tax exclusive and a journal including tax transactions therefore doesn't balance until you go into the draft journal itself and change back to tax inclusive!

    Would be useful to be able to globally set whether imported journals are tax inclusive or exclusive. Presumably in the "Tax Defaults" section of Financial Settings.

    23 votes

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  10. Manual Journals - Ability to to set Tax Defaults in Financial Settings like you can for sales and purchases. This will enable the user to set it to Tax inclusive and every time a new journal is created it will be tax inclusive instead of no tax.

    18 votes

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  11. Manual Journals - Export multiple journals

    Allow users to export all manual journals at once either in PDF or to excel format

    17 votes

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  12. The ability to use item codes when completing a manual journal.

    15 votes

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  13. I need the option to auto reverse repeating journals to be available. This is neccessary for accruals.
    Auto reverse is available on regular journals but not repeating.

    14 votes

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  14. Manual Journal - Copy details from line above- this is a tool in Sage so please could you consider it? :) it's a nifty action & allows a one click solution to repeat account & tracking categories and is especially useful for large entries such as payroll journals.

    12 votes

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  15. Currently there is no functionality to add a line anywhere in the Journal. The current system of dragging a line from the bottom is absolutely inconvenient especially where the Journal is very long and we want to add a few lines in the beginning of the Journal.
    There should be one button 'insert a line function' (next to current curser location - meaning anywhere in the journal - Like F7 in SAGE).
    Also, to move to below line, we have to use mouse. Can it not be possible to use arrow keys to move up and down?
    Thank you

    12 votes

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  16. Placeholders are really useful in repeating manual journal entry - could we please have them in regular manual journals?

    Oftentimes it will be necessary to repeat a series of manual entries when realising income in advance as revenue however the amounts will vary so a manual journal is required for each instance.

    Being able to have [Month] etc in the narration would make it much faster to populate each entry. [Example: "Revenue realised in [Month]"

    11 votes

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     ·  1 comment  ·  Manual journals  ·  Admin →
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  17. MANNUAL JOURNAL

    Please add a reference column for us to fill up so that posted journal are document in sequence number. The journal ID is actually act as audit trail Instead of journal reference number.

    Also, pleas please allow journal entries to be able to post entries to bank...its such a miserable, while journal entries supposingly existed to pass adjustment but doesn't allow pass entries....

    10 votes

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  18. I attended the 2023 Q2 QPU and I like that for placeholders you can add a number in the square brackets to modify the month placeholder (this was in repeating journals - is it the same in other repeating features, like Invoices/Bills?). I also wonder if you can modify the year placeholder in the same way.

    But I'd like also to be able to post repeating journals with a placeholder that uses a number-format for month (eg, 04 instead of April). Alternatively or additionally, it would be nice to be able to abbreviate the month to just the first 3…

    10 votes

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     ·  1 comment  ·  Manual journals  ·  Admin →
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  19. PREPAID/DEFERRALS MODULE

    I know that there are certain 3rd party apps which provide such features for the accounting of prepaid expenses/ deferred revenues.

    Also, Quickbooks offer similar feature.

    While we love Xero and the robust financial controls it offers, we believe it is extremely important to offer a plan which includes prepaids/deferral accounting assuming all entities faces these situations, to avoid manual accounting for these and reduce human errors.

    9 votes

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    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 🙂

  20. Can we get multiple date entries for manual journals?

    9 votes

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     ·  1 comment  ·  Manual journals  ·  Admin →
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