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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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313 results found

  1. I've been raised an issue regarding View/Print PDF on Spend Money transaction and Xero Central Stated that "At the moment, it's only possible to send a remittance advice for payments recorded on bills".

    Therefore, I would like to give a suggestion, If possible, create a features that able us as Accountant & Bookkeepers to have features to View/Print from Spend Money & Transfer money like Receive Money features have.

    This features enable us to have documentation to file and for audit purposes.

    8 votes

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    Hi Nur Fatini, it'd be good to get more understanding from you here as it sounds like the Account Transactions report could serve the purpose or perhaps simply creating a receipt of the spend money? 

  2. Since the change to the updated Bank Rules page, it now defaults to 'Any Conditions Match'.

    I have to change this to 'All Conditions Match' literally every. single. time. I create a bank rule, otherwise it defaults to matching almost all transactions.

    This is a disaster waiting to happen.

    11 votes

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    Thanks for sharing back on the change, Alan. It's difficult to make changes to suit everyone's needs, and changing the default from 'All' to 'Any' was carefully considered as part of the recent updates to Bank Rules. 

    This was something users told us would be helpful as many more users create 'loose' rules to capture more statement lines.

    Currently there aren't any plans to change this back. What would be more useful would be the ability to set your own default, but for now we'll begin to track the interest of this here.

  3. Banks Rules - Add Billable Expense

    This will save the company a lot of time having to manually set a billable expense when we need to on-charge a certain % of a recurring transaction

    14 votes

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     ·  3 comments  ·  Reconciliation  ·  Admin →
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  4. The columns visible in Bank Statements and Account Transactions under Bank Accounts are totally different. This makes it almost impossible to search for matching transactions. Can you have default columns that can be selected? Some of the columns are only available when the statement is uploaded and I'm not sure even how useful they are.

    8 votes

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    Hi Ann, it'd be good to understand more of the detail that you're seeing on each of these screens that is useful to you - Perhaps there's a report we can suggest that gives all that you're after? 

  5. Ability to partially reconcile a statement line to one invoice and leave the rest of the payment unreconciled until the details needed for reconciliation are received, instead of posting an overpayment.

    25 votes

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  6. Ability to set up bank feeds for foreign currency Westpac accounts. For those that bank with Westpac in Australia

    17 votes

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    6 comments  ·  Bank feeds  ·  Admin →
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    Thanks for sharing your feedback and votes for adding Westpac foreign currency account feeds, community.

    While a direct feed isn't currently available for these accounts, you can still keep up-to-date in Xero by manually importing your transactions.

    Just to give you a bit of insight into how these feeds are built – we rely on our banking partners to make specific account types available to us. The best way to get this on Westpac's radar is for them to hear directly from you, so we encourage you to reach out to them and request support for foreign currency account bank feeds.

    For this reason, we're unable to say if or when feeds might be available for these accounts, but we'll continue to keep an eye on the support for this idea, and let you know if there are any changes in this area.

  7. We need the ability to search by reference within Account Transactions. The new search bar in the top appears to search reference fields, but not the search field under Account Transactions.

    24 votes

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  8. We integrate with Stripe for payments and we reconcile our Stripe payments every day to invoices that we generate automatically via a script. On average, we reconcile 50 to 100 invoices each day to Stripe payments. The issue we have with Xero is that the Xero algorithm looks at the amount, the name (customer), OR reference (invoice, order, etc) to match payments with invoices. Like many businesses, our sales price is the same across many accounts and we sell many of the same products over and over to the same customers so this renders the Xero algorithm useless for an…

    5 votes

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     ·  8 comments  ·  Reconciliation  ·  Admin →
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  9. When you have a bulk bill payment as one line on the bank rec, it would be useful if within the ‘match’ tab you could easily bring up the bills with a specific planned to pay date. Rather than having to search for each bill/supplier from a separate list.

    4 votes

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     ·  0 comments  ·  Reconciliation  ·  Admin →
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  10. Find and match on bank rec to still go green when there is an entry on the discuss tab.

    Currently the right hand side of the bank rec will only turn green if there is a possible match and nothing in the discuss tab. If there is something in the discuss tab it will not turn green even if there is a match.

    It would be great if the border of the box still turned green whilst displaying the comment to indicate that there is a possible match to allow the user to review and ok the transaction.

    19 votes

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     ·  3 comments  ·  Reconciliation  ·  Admin →
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  11. Bank items to reconcile list ability to toggle all items between 'discuss' and 'match' together as it is easy to miss if an item is showing as 'discuss' but client has uploaded a bill or invoice and it can now be matched

    7 votes

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    Hi community, it’s been a while since our last update. Just wanted to share a quick status change and keep everyone in the loop.

    We’ve updated the idea on bank reconciliation workflows to Gaining support, so it’s easier for the community and the product team to track interest. The idea will stay open for votes and comments, so adding any extra context about your workflow and inviting others to share their experiences can help build a clearer picture of the need.

    We’ll let you know if anything changes as the idea progresses.

  12. Xero allows invoices to be created in a foreign currency (with the premium subscription plan) but when clients make these payments (which get converted to the base currency) they are not able to be reconciled in the Xero app as both the currency and amount are different so they don’t match.

    On the web, there is an option that can be unchecked to show foreign currency items, which then allows the payment to be reconciled. In my case it is ‘show NZD items only’.

    A similar item would ideally be added to the Xero app so those paid in a…

    16 votes

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     ·  2 comments  ·  Reconciliation  ·  Admin →
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  13. It would be really helpful if I could produce reports (by various time periods as usual) that list all the bank reconciliations that I have posted to my various accounts that I have created. This is useful for me to check in my book-keeping role to ensure that I have reconciled everything to the correct account, especially before passing everything to my accountant to produce the accounts.

    Example:
    Does my "Postage & Stationery" account include only postage and stationery bank statement reconciliations?
    Does my "Salaries" account include only salary bank statement reconciliations?

    etc etc

    5 votes

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  14. From Chart of Accounts, click on an amount in the YTD column. The account loads with the transactions in date order oldest to newest. Please reverse this (or create an option) for the transactions to load with the latest transactions first by default.

    35 votes

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  15. I have a number of Telstra accounts that all come due within a day of each other. Xero can't tell the difference between the rules. I was thinking that when doing reconciliations, where it has the drop down tab "Options" if you could add "Choose a Bank Rule" it would save me having to ignore the wrong rule chosen by Xero and and manually have to fill in the data for the relevant Telstra Account when it comes in.

    26 votes

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  16. the discussion tab in bank reconciliation is a wonderful tool to communicate issues encountered in doing bank reconciliations. What would make it better would be if there is an option to notify specific users when a new entry or response has been entered in the tab. This would increase productivity for service providers and allow their clients to respond quicker to queries from their service provider

    17 votes

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     ·  6 comments  ·  Bank feeds  ·  Admin →
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  17. It would be very useful to be able to generate a Bill when Reconciling, instead of just being able to "Spend Money". This would allow much better tracking of transactions, since money leaving an account via Spent Money is far less visible than when a Bill is paid.

    Specifically:

    When PayPal is enabled as a Payment Method, and a customer pays their Invoice this way, the associated PayPal account shows two entries in the Bank Feed ready for Reconciliation:
    1) A transaction fee is deducted from the PayPal account.
    2) The full amount of the payment into the PayPal account.

    7 votes

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    Hi Faris, generally as a bill is received prior to payment so currently it's expected that the bill would already exist in Xero when reconciling. 


    Appreciate your example of where this could create efficiency and we'll get an idea of the support in this here. 🙂


    In the meantime, depending on your type of sales you may find an integration in our App Store that could serve by automatically creating the transactions in Xero. 

  18. Please can you add an additional account under expense type in the chart of accounts for corporation tax?
    One which will automatically post to the profit & loss in between 'Profit on Ordinary Activities Before Taxation' and 'Profit after Taxation'.
    The default setting of overhead and having it in with bank fees etc is frustrating.

    27 votes

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  19. Import and reconciled bank transfer

    6 votes

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    Hi Sandra, could you provide a bit more detail of the idea you have here? Would this be for the ability to automatically reconcile transfer transactions from one bank account to another?

  20. When users are reconciling quite often two mistakes are made frequently:

    • Reconciling wages payable incorrectly to Wages and salaries (expense)
    • Reconciling super payable incorrectly to Superannuation (expense)

    It would be great to have a checkbox similar to "Enable Payments" that says "Do not allow reconciliation to this account" so that when people search for wages/superannuation they can't get shown the incorrect option.

    38 votes

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