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This is important for our organisation that is tracking grants made to individuals. In some cases the organisation acquires an item for the individual. At the moment, reporting by contact will not pick this up. I wanted to do a journal to assign this expense to the individual but can now see that the contact field is not available on the journal. This is a problem for us.

Suggesting a feature for Xero related to inter-company manual transactions and comparing it with QuickBooks Online (QBO), which seems to offer a more seamless solution for businesses that frequently handle inter-company transactions.

Inter-company transactions can be quite complex, especially for companies that need to manually process them between different entities. It’s common for businesses to need to allocate expenses, revenue, and other financial data between multiple entities, such as subsidiaries or branches, within the same organization.

QuickBooks Online is known for offering robust features that streamline inter-company accounting, which is likely a significant reason why new companies might opt for QuickBooks over Xero. Xero, on the other hand, may need to improve or add specific features in this area to appeal more to companies needing such functionality.

In terms of addressing this, a few potential improvements or features that could help Xero compete more effectively in this regard might include:

Automated Inter-Company Transactions: The ability to automatically generate inter-company journal entries for transactions between companies, which would reduce manual input and minimize errors.

Multi-Entity Management: Offering a more seamless way to manage and reconcile inter-company accounts within Xero. This might include the ability to generate consolidated financial statements that automatically account for inter-company transactions.

Improved Reporting: Customizable and detailed reports that allow users to track inter-company transactions across multiple entities, ensuring transparency and accurate reconciliation.

Integration with Other Software: Allowing easier integration with third-party software to manage inter-company transactions, so that Xero can become more of a central hub for financials across entities.

Enhanced Support for Manual Entries: A user-friendly interface or workflow that guides users through the process of manually handling inter-company transactions and ensures compliance.

If Xero were to enhance their features in these areas, they could make the platform a more attractive option for companies involved in complex inter-company transactions.

Can we get an update on this feature request please, this will be a great addition.

Agree fully with the necessity for Customer and Supplier Journals and detailed Ledger Reports.

Please Xero, this is a basic accounting necessity!!!

It's been over a year and no response from Xero on this? This is really critical, it affects so many use cases. We are nearing the end of 2024 and we still can't add a contact in a Journal entry. This is unbelievable!

Manual/Repeating Journals - Is it possible to add a Contact name to a manual journal posted as it is easier during audits and helpful while reviewing the General ledger. We are facing this issue especially for prepayment/accrual/deferred income

This feature is critical, Xero please implement!!

Yes, please add this. Would definitely make life one helluva lot easier when trying to recon with supplier accounts.

Without the ability to schedule amortization within a bill or invoice, proper accounting of just about any SaaS revenue or spending MUST be done via a manual journal. Without any ability to tag these journals with a contact name, there is no way to do any sort of decent revenue/expense reporting by contact within Xero, nor via any third party tools which rely on imported data, resulting in countless hours of manual work-arounds each month.

This feature would but down on manual work so much because I could filter by contact name on manual entries. I spent so much time trying to match up accrual journals with the real income from clients. it's sort of riculous and needless

Please add this feature. It helps a ton when you have multiple companies and there are lots of inter-co loans. I have to do double the entries to get to the same outcome. Please help! Conisdering going back to QBO.

Totally agree and have commented on this on numerous occasions!!!

Please Xero this is an absolute necessity

VERY frustrating...

Maybe not a big deal for other users, but for accountants and bookkeepers, journals to supplier and customer accounts is really useful.

Please add this feature ASAP

This is an important feature assigning the customer name or supplier name to Journal. This effects the customer or supplier accounts . Kindly incorporate this feature ASAP

Thanks

Another vote for this. I've just moved over to Xero an am amazed such a basic feature, a feature available on all other accounting systems I've used, isn't available.

I am one of many who have requested this feature and agree that it is CRITICAL!!

Please make this feature available quickly. We recently switched to Xero and cannot link our journal entries to the respective creditors or debtors. Xero Team, please address this quickly, Thanks!

This is a standard feature across ALL accounting software I've ever worked on. It's a critical function and should be addressed urgently!! Get the must haves right please before adding fancy nice to have features.