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Financial Accounts - Switch rules effect notes

Would like to see switch rules work in the notes to the financial accounts the same way they work on the balance sheet - allowing for reclassification of accounts with negative balances, for example negative current asset to current liability or negative non-current liability to move to non-current asset.

These issues are particularly acute when an account goes from positive to negative and vice-versa between current year and prior year.

On the basis the switch rule does not operate correctly in the notes to the financial accounts, means that in many cases the switch rule is rendered an unusable feature - as switch rule will work in balance sheet but not in notes to financial accounts.

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Alexander Knight shared this idea  ·   ·  Report…  ·  Admin →
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In development  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi community, appreciate wanting an update from us here, and we'd like to thank those that have additionally added their support since our last update.

I’m pleased to let you know our reporting product team is working on a new synced notes experience that's intended to keep notes aligned with the source report, including carrying through switch rule behaviour.

We understand current behaviour means figures can stop matching when switch rules move balances between groups in the source report. - The work our team are doing is designed to solve that by allowing you to create synced notes from groups in a report. These synced notes will stay connected to the source report and respect switch rules, helping the related note figures stay aligned.

We've already started rolling this out for AU and NZ customers and I'll round back to confirm once it is live to all regions. 🙂

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  • Dean McKenzie commented  ·   ·  Report

    Same here, this should be a fundamental function for notes to the balance sheet.

  • Todd O'Connor commented  ·   ·  Report

    Yes, I've just spent all day trying to create a basic set of accounts only to fall at the final hurdle because the notes won't match the balance sheet. WTF?

  • Donnie Buchanan commented  ·   ·  Report

    Yeah I agree, it will be interesting to see if this gets delivered.

  • Zoe Giles-Jones commented  ·   ·  Report

    Yes - actually linking notes to the balance sheet and report codes from the balance sheet flowing to the notes, would allow for swing accounts between trade & other receivables and trade and other payables etc. to work in both balance sheet & notes (currently we’re restricted because the swing doesn’t work in the notes as receivable & payable are two separate notes that don’t connect).