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Banking & chart of accounts

Customer ideas for bank accounts, bank feeds and chart of accounts

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Banking & chart of accounts

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  1. The auto reconciliation feature in Beta is great but it would be appreciated if you could tailor what to reconciliation. Eg only auto process things that match not create new invoices (from memory). We need to upload tax invoices on all purchases, by auto creating it is skipping this important step. If people have already uploaded (via expenses) then its ok.

    4 votes

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    Hi Uri and Annabel, thanks for your feedback and letting us know the changes that matter most for you. We will move this idea to gain more support from the community so other users who want this change are also able to add their vote and comments on it. You can share this idea with your friends and colleagues as well so they can add their votes!

  2. On the bank account transactions pages, when someone has paid one of my invoices, it displays as 'Payment: Joe Bloggs', it should display as 'Receipt: Joe Bloggs' as i have received the monies not paid them.

    5 votes

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    Thanks for your feedback and for pointing out how the term "Payments" can be confusing—especially for those new to Xero or bookkeeping.


    We get that using clearer terms like "Receipt" or "Payment Received" might feel more intuitive and help reduce confusion when working through allocation of payments on an invoice.


    Right now, this idea’s open for feedback and support, so feel free to keep voting and sharing how a change like this could help in your day-to-day.

  3. Assign multiple transactions to a project in cash coding. There should also be a projects field on the main page, rather than having to go to "add details>assign to project>search for project>click project>click ok>click reconcile".

    As with many travelling workers, many of my transactions for a trip are all bunched together and it would save me so much on bookkeeping time and fees to be able to select multiple statement lines or transactions and "assign all" in one click. Under cash coding makes sense because the checkbox already exists for each line, Projects just becomes another column.

    4 votes

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    Thanks for sharing your idea, and letting us know the changes that matter most for you. We appreciate you explaining how bulk assignment to projects during cash coding improve your workflow especially with grouped transactions from travel or project work.

    We've reviewed your idea and now it's up to the community to get behind and support it. Make sure you share your idea with any colleagues that this could benefit so they can add their vote too!

    Along with votes, other members can now comment to share additional detail about how your idea could improve their experience with Xero.

  4. Please could the 'Uncoded Statement Lines' button be reinstated on the new bank feeds page, rather than hidden under the ... menu?
    It makes for an extra click every time and there's plenty of room on the page for it.

    4 votes

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    Thanks for your feedback on the Uncoded Statement Lines button placement. We appreciate you explaining how this could streamline your workflow and better use the available space.We've reviewed your idea and now it's up to the community to get behind and support it. Make sure you share your idea with any colleagues that this could benefit so they can add their vote too!

    Along with votes, other members can now comment to share additional detail about how your idea could improve their experience with Xero.

  5. Being able to attach files to a reconcile period. This would be useful to easily reference supporting documents like the statement the period has been reconciled off.

    23 votes

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    Hey team, thanks for raising the idea on the ability to attach files to a reconciled period. We appreciate the continued conversation and support for this idea. Our product team is currently looking into this, and we hope to have an update for you in the near future.

    Along with votes, other members can now comment to share additional detail about how your idea could improve their experience with Xero.

  6. Would it be possible to add a feature to colour code our chart of accounts - especially expenses? When I am at the petrol station adding a receipt for a fuel purchase, it would be great to scroll down to a colour (with the account number). Another idea would be to have a favourites for expenses - we could add the ones we use most often.
    Thanks from a small business owner.

    11 votes

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    Thanks for sharing, Timothy.

    We've reviewed your idea and now it's up to the community to get behind and support it. Make sure you share your idea with any colleagues that this could benefit so they can add their vote too!

    We'll share if there are any updates for this here.

  7. Set up mortgage or long term bank loan accounts as Non-current liabilities but still enable the user to connect a bank feed. This will ensure the coding and processing burden is reduced when reconciling loan accounts and will ensure the Cashflow statement is correct.

    2 votes

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     ·  System responded

    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. 🙂

  8. Currently accessing the bank rec needs to be done by going to Home and then Bank Reconciliation. Please would you add a shortcut for this on the menu bar?

    2 votes

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     ·  System responded

    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. 🙂

  9. when adding budgets can we have the option of displaying the nominal accounts in nominal account code order rather than alphabetically

    2 votes

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     ·  System responded

    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. 🙂

  10. On the Find and Select Matching Transactions screen, it would be nice to have a filter that only displays payments and refunds (IE - excludes the unpaid invoices). I record payments on the day that the credit card was posted, but don't reconcile until the deposit. A great deal of my customers are on payment plans, so hiding the unpaid invoices would speed things up for me.

    2 votes

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     ·  System responded

    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. 🙂

  11. It would be helpful to be able to filter items to find and recode by income statement or balance sheet items rather than having to sort by code and selecting the applicable ones or filtering by ALL the applicable codes, which is very time consuming.

    2 votes

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     ·  System responded

    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. 🙂

  12. Ability to allocate part bank payments to a full spend money transaction already entered, instead of deleting the part payments and marking the full spend money transaction as reconciled

    2 votes

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     ·  System responded

    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. 🙂

  13. I would like to be able to copy a Transfer transaction.

    When viewing a transaction on the "Transaction: Spend Money" screen, the "Options" menu includes a "Copy" function. However, when viewing a transaction on the "Transaction: Transfer" screen, the "Options" menu does not have the "Copy" function. Please add the "Copy" function in the "Options" menu on the "Transaction: Transfer" screen.

    6 votes

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    Hi Gregory, thanks for raising an idea in the forums here. To try get a better understanding of your workflow, is there a reason you would generally want to create the Transfer transactions prior to reconciling in your bank account?

  14. It would save numerous steps if:

    When a new account is created from within a transaction (for instance spend money or journal entry) the option to add a reporting name was available, instead of having to update later through the chart of chart of accounts.

    When creating a new account, through the chart of accounts or elsewhere, that the Report Code mapping category could be allocated at the same time.

    24 votes

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    Hi everyone, thanks so much for all your feedback and support on this idea!

    We know that sometimes you need to create a new account on the go—like when you’re right in the middle of entering a spend money transaction or a journal. But at the moment, you can’t create a new COA account then and there.

    The current workaround is to create the account first from the Chart of Accounts before doing your actual task. While that gets the job done, we understand it’s not the most efficient way to work, especially when you’re trying to keep momentum.

    This idea is now in the Gaining Support stage. We’re keeping an eye on how much interest it’s getting, and your votes and comments help show the value this would bring to your day-to-day.

  15. Why do your devs keep burying things, that we need to frequently use, under menus?

    Please bring the "Transfer Money" quick button back to the Bank Accounts main page, rather than bury it under the 3-dot menu. That added click each time is incredibly annoying and takes away from the user experience.

    Side by side comparison below.

    3 votes

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    Thanks for sharing your idea, and letting us know the changes that matter most for you Jim. We will start gaining some support on this idea so that other users who wish to see this can also add their vote in. We'll monitor this space for more traction.

  16. We have a major customer who pays multiple invoices but splits their remittance across more than a single bank statement line. There does not seem to be ability to match a bulk deposit against more than one bank statement line.

    3 votes

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    Hi!


    Thanks for sharing your idea about how you'd like to see the reconciliation process improved.


    We've reviewed your idea, and now it's up to the community to get behind and support it. Make sure you share your idea with any colleagues that this could benefit, so they can add their votes and comments about how this would be helpful for them, too!

  17. Monzo Lite doesnt connect to Xero! This is going to be an issue for MTD clients, can we get this resolved.

    1 vote

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    0 comments  ·  Bank feeds  ·  Admin →
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     ·  System responded

    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. 🙂

  18. In Find and Find and Match function in Bank Reconciliation

    Set the "Show spent items" and "Show receive items" to default to what was last used, OR to be always on.

    2 votes

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    Thanks for your feedback, Andrew. Appreciate especially with the new feature for credit notes why you'd like to have this default set.

    We'll start to feel out the interest of this here and I'll make sure to let you know here if there are any plans for changing the behaviour of this check box.

  19. Currently, a check written is downloaded in the feed with the date the check cleared and no payee name. It would be fantastic if AI could read the check, enter the payee and the date the check was actually written rather than the date it cleared. That would save the user from having to look up the check on the bank website and manually editing it so that the bank reconciliation is actually correct.

    2 votes

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    1 comment  ·  Bank feeds  ·  Admin →
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    Thanks for submitting your idea on Xero Product Idea’s David. We can appreciate the need for AI to read the details such as payee and date when the check was written. We’ll start to track support in your idea from the community, here.

    Along with votes, others can now comment to share additional detail about how your idea could improve their experience with Xero.

  20. 1 vote

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    0 comments  ·  Bank feeds  ·  Admin →
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     ·  System responded

    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. 🙂

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