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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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496 results found

  1. 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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  2. being able to sort by description on find and recode

    152 votes

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    Hi everyone, we're grateful for your feedback on improving Find and Recode, and recognise how sorting by description could enhance your ability to review and recode transactions.

    While not a direct solution, you could filter by Contact and then in the browser Ctrl + F to search highlight keywords in descriptions and find the right transactions. We know it's not perfect, but might help narrow things down.

    To be transparent and provide some clarity here, there are no planned changes to change the functionality within Find & recode right now. We will share if our position around this changes and there are any updates for you all here.

  3. 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.

    10 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? 

  4. 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.

    27 votes

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

    18 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.

  6. 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.

    29 votes

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    Hi everyone, as our product teams keep developing Xero they have been continuing to lean into the forums here to help inform and plan work.

    We appreciate the impact this feature could have to those that have supported the idea here - This in mind I'm pleased to share that we're working on expanding the search capability of the Account Transactions page of the bank account to enable users to search by transaction Reference or Payment reference 🙂

    As soon as this is ready for you to make use of I'll be back to share with you all! Thanks

  7. While it is possible to use Find & Recode to edit the contact, it's not currently possible to use this feature to edit line item descriptions, this would need to be done on the individual transaction themselves.
    Can XERO please look into this and bring this new feature in future to save time.

    29 votes

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  8. 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.

    20 votes

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     ·  4 comments  ·  Reconciliation  ·  Admin →
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  9. 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.

  10. 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…

    17 votes

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     ·  3 comments  ·  Reconciliation  ·  Admin →
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  11. TIME SAVER: I would like to be able to quick edit the reference details in the transactions list view, instead of having to click on each transaction > edit > save.

    13 votes

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     ·  3 comments  ·  Reconciliation  ·  Admin →
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  12. When manually reconciling a bank clearing account, you have to manually add up the credits that you have ticked to make sure that they add up to the debit that you are reconciling to.
    It would be great if there was a figure showing the total of all items ticked.
    It would work exactly the same as when preparing a batch payment in the Purchases module where the total of all bills ticked is shown at the top.
    It would save SO MUCH time if we could have a similar total showing in the bank transactions screen - there can…

    18 votes

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     ·  9 comments  ·  Reconciliation  ·  Admin →
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  13. 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.

    39 votes

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  14. On bank header screen where it shows "Statement Balance" and "Balance in Xero" could we have a simple "Difference" calculation to show the actual amount of the difference.

    6 votes

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    Hi Valerie, while not shown in the Bank header, you can run the Bank Reconciliation report which will show you the balance out by figure. If the Imported statement balance hasn't imported or doesn't match your actual bank statement ending balance, you can enter this yourself at the top of the report and update so Xero will show a calculated balance out by amount.

  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.

    28 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

    19 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.

    31 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.

    39 votes

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