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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. Can you please update the Bendigo Bank logo to the new and updated version.

    Xero currently uses the old logo.

    3 votes

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     ·  0 comments  ·  Bank feeds  ·  Admin →
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  2. Chart of Accounts - the ledger codes (a) Entertainment-100% business and (b) Entertainment-0%. Can you change these categories? We accountants all know that the descriptions are misleading.

    Almost all (unqualified) bookkeepers use (a) for client entertainment and claim VAT. Subsequently, accountants blindly treat this category as business expenses, reducing the taxable profit. (i.e. wrongly deduct it for corporation tax purposes) I cannot tell you how many cases I've seen in the past few years.

    Please change the default categories to (a) Staff-only entertainment and (b) Client entertainment?

    2 votes

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    Hi Ray, appreciate your raising this through product ideas.

    We'll get a sense of the interest in changing this within the default chart of accounts from the community here.

    Just to confirm, while Xero offers a default chart of accounts, you can import your own chart of accounts to set these up as you prefer, or edit individual accounts within Xero.

  3. It would be great if Xero could automatically do the transfer between Xero bank accounts.
    This is our most time consuming and often error-prone coding in Xero when it should be a simple fix. Many clients still battle with this.

    20 votes

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     ·  2 comments  ·  Reconciliation  ·  Admin →
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  4. For Xero to expand their bank feed connections to develop a feed that supports Aldermore bank

    77 votes

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    0 comments  ·  Bank feeds  ·  Admin →
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    Hi everyone, thanks for all the support for a bank feed with Aldermore Bank. We are aware of the interest here, and are currently exploring the possibility of this feed.

    As some of you have noted, the best option for now is to manually import your bank statements into Xero. This will help you keep your accounts up-to-date. You can find instructions on how to do this in our Xero Central article here: Import a bank statement.

    Another way you can help is by letting Aldermore Bank know you’d like to see them integrate with Xero. We've found that banks are more likely to prioritise building a feed when they hear directly from their own customers. They can get in touch with our team to start the process here: Register your financial institution for bank feeds.

    We want to be transparent that while we're aware of the demand…

  5. For Xero to expand their bank feed connections to develop a feed that supports Charities Aid Foundation (CAF)

    183 votes

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    71 comments  ·  Bank feeds  ·  Admin →
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    Hi all, just updating the status of this idea to Accepted here, to align with our new statuses for Xero Product ideas. You can read more about this on our blog.

    We're also pleased to see in your comments here that CAF have introduced QFX file types for downloading transactions - this'll make manually importing more streamlined until a bank feed is made available.

    As per our last update, we appreciate all the interest a feed for CAF has gained and we want you to know this has definitely got attention from our product team, and something they hope to explore in the future however we can't provide any timeframes at this time. I'll be sure to keep you updated of any progress that moves this along. Thanks

  6. For Xero to expand their bank feed connections to develop feed that supports Chase bank UK

    27 votes

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    0 comments  ·  Bank feeds  ·  Admin →
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    Hi everyone, just a quick update to let you know that we are aware of this request, and we get that having a direct bank feed for Chase Bank UK would streamline your workflow and make reconciling much easier.

    Currently, the best way to get your transactions into Xero is by manually importing your bank statements.

    For now, we’ll keep an eye on the engagement and support for this bank feed here, and let you know when we have any updates on this. 

  7. For Xero to expand their bank feed connections to develop feed that supports Cynergy bank

    40 votes

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    12 comments  ·  Bank feeds  ·  Admin →
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    Hi community, thanks for all your votes and comments on this idea – it’s great to see so much support for this idea.

    We know that having to manually upload statements takes valuable time away from running your business, especially when your bank doesn't offer CSV exports.

    I’m happy to share that we're exploring a bank feed for Cynergy Bank.

    While we can't give any commitment at this point, we'll be back once the team have had a chance to dig in deeper and share any progress. 

  8. For Xero to expand their bank feed connections to develop feed that supports Unity trust bank

    59 votes

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    11 comments  ·  Bank feeds  ·  Admin →
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    Hi community, thanks for your feedback on a Unity Trust Bank feed. While a direct feed isn't available just yet, we understand that this'd save you a lot of time on manual data entry. As we work with Tink to support more open banking connections we'll move this idea through to In discovery. While this is a step in the right direction, it's not a guarantee that the feed will be developed, and we don't have a timeframe to share just yet. We'll be sure to post any updates right here.

  9. Filter the bank reconciliation by spend or received

    Simple to complete the debtors first / or creditors

    29 votes

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  10. Given XERO is pulling in credit card transaction details can they pull in payment due dates to help manage timing of payments? Could be as simple as a "Payment is due" flag that a user can manually turn off if they want after paying.

    1 vote

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  11. It would be helpful when setting up new GL accounts in the COA if the screen would populate somewhere (even a drop down would be helpful) with the existing COA so you can see in same screen what’s already there and where your new account would fit logically

    1 vote

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  12. I wish you could add a new GL account to the COA right from the "create" tab of the match transactions page instead of having to click through to "add details" to access that function

    4 votes

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    Hi, thanks for submitting this idea. As you mentioned, the Create option doesn't currently have a way to add a new account into your Chart of Accounts.

    We appreciate you taking time to let us know how we could improve Xero for you, and 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. Please instate bank feeds for ABN AMRO bank (the Netherlands). I joined Xero for its highly automated systems. Now I still have to download and import bank statements manually.

    It adds insult to injury for the fact I have to sign up to a premium plan to be able to account in a mere two currencies. For small traders like myself with low turn-overs and no need for the majority of features larger companies need, this feels deeply inappropriate and unfair. (another idea about this topic is already live elsewhere)

    8 votes

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    0 comments  ·  Bank feeds  ·  Admin →
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    Hey everyone, thanks for the support on this idea.

    While our Open Banking connections in the EU currently cover only Denmark and Ireland, you can still keep your ABN AMRO transactions up to date in Xero by manually importing your statements.

    We'll keep en eye on the support for this here, and let you know of any updates in this area. Thanks for taking the time to share!

  14. In the bank feed, recognise transactions that cover a supplier or customers total balance, or multiple bills/invoices paid together rather than only suggesting matches for 1 invoice/bill.

    6 votes

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  15. We all know that legally we have to have a receipt for each transaction, it would make life (and my brain) so much easier if on the reconcile page when it shows up as green (for an existing matched bill pending) that it would be a different colour if that bill had an attachment on it so I wouldn't have to check before pressing the 'ok' button. A simple one but something that would save so much time and surely the programming to match for the green can be amended to identify an attachment on the bill.

    4 votes

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  16. As a bookkeeper, I want Xero to support bank feeds for my company’s Certificate of Deposit (CD) savings accounts. My financial institution (Chase) sends data on my CDs to the Xero feed, however, Xero ignores the CD accounts in feed. CDs are supported by other FinTech companies with similar feeds, and should be a low effort feature for Xero to implement.

    2 votes

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  17. I always want to reconcile my newest transactions first, as they are freshest in my head. It's actually become pretty maddening not having this feature.

    8 votes

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  18. In the Bank Rules it would be very helpful to have a tick box that allows the full original description from the transaction in the bank, to be allocated when you reconcile the transaction.
    Much like the Set Reference as 'reference/description/etc' option but specifically to include the original transactions detail.

    E.g. Bank rule & contact would be: 'Pharmacy'
    - but the original description in is a transaction from 'Boots £3.50' or 'Superdrug £14.00' so when you apply the bank rule and you check the transaction in 'Account transactions' under the specific nominal (e.g. personal care), the description would say the…

    9 votes

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  19. It would be very useful to be able to search bank rules for an account code, since account codes cannot be archived/deleted if there is an associated bank rule. I eventually found the relevant bank rule but it was very time consuming to go through each bank rule individually - there can be hundreds of bank rules.

    5 votes

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  20. In the bank account settings, add an optional data field to enter in the Overdraft limit on a bank account. Then on the dashboard screen, show the net available balance of current bank balance + the undrawn Overdraft limit.

    Purpose - to save the user from having to manually calculate how much is available to make supplier/payroll payments or login to internet banking prior to check.

    Should also be a simple feature to add.

    9 votes

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