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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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531 results found

  1. Ability to set up a bank rule to pay off an existing bill that is paid in monthly instalments. Currently have to manually allocate the monthly payment to a bill using the match and split function but it would be useful if a rule could be set up for this.

    1 vote

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     ·  0 comments  ·  Reconciliation  ·  Admin →
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  2. When using the Reconcile Period feature for clients with multiple bank accounts, it is time-consuming to click in and out of each account to check if reconciliation is needed. It can also be difficult to remember which account you left off on, especially when reconciling at different times throughout the month.

    Displaying the ending date of the last reconciled period next to "Reconcile Period" and/or on the dashboard would provide a quick overview of the last reconciliation for each account, improving efficiency.

    4 votes

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     ·  1 comment  ·  Reconciliation  ·  Admin →
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  3. In the search function under the Bank Statements or Account Transactions tab,
    It would be great to filter only received or spent transactions.

    1 vote

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    Hi Tiaan, while you can't filter or search by money received or spent you can order your transactions from the Account transactions tab by Received or Spent by clicking on the column header. Does this achieve what you're in need of here, or could you share a bit more detail of what you're often looking to find? If needed you could add a date search to filter these down further.

  4. When reconciling an item that comprises an invoice plus a bank fees adjustment, it would be great to be able to use TAB to select the contact, account etc when completing the adjustment part of the transaction, like you can when coding literally anything else. Almost every time I go to code the bank fees adjustment, I type in the contact, hit tab, belatedly notice that nothing has been selected, face palm myself, then have to go back, type the contact in again, hit RETURN and then TAB, for both the contact and for the account type. When creating any…

    2 votes

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     ·  1 comment  ·  Reconciliation  ·  Admin →
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  5. The ability to automate billable expense assignment by GL code. If you code to a certain GL code you want it assigned automatically as a billable expense for a certain customer. This helps with intercompany on-charges.

    3 votes

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    Interesting way of considering how this feature could work, Theresa.

    It'd be good to see if others in the community would find this workflow useful to them as well. We'll keep an eye on the support for this here.

  6. 3 votes

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    1 comment  ·  Bank feeds  ·  Admin →
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    When you say one click bank refresh, is there a specific place you'd be looking for this option, Martin? Currently there are some types of bank feeds that have an option to Refresh bank feed.

    However how often a bank feed updates depends on your bank and each bank does things a little differently.

    You can find the specifics for each bank feed here. It includes when they update, how often and if a manual refresh is available.

    If you think your bank feeds might not be syncing correctly, you can check current or recent bank feed delays and issues on our status page - You can also access this from within Xero by clicking on the View status updates option from your bank feed menu.

  7. It would be nice when you import a custom chart of accounts to prepopulate the GIFI, similar to the report codes.

    1 vote

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  8. We have a lot of transaction that include GST, but only on part of the purchase. (Mobile catering business where we shop a lot in supermarkets.) When adding details, it has been very helpful to have the transaction already split into two lines for GST-able component and GST-free component. When entering the amount of the payment that includes GST, (which has to be calculated as receipts mostly show GST included), it would be great if the GST-free line auto-filled with the balance. Obviously this wouldn't solve every breakdown of expenses, but it would save having to use the calculator where…

    2 votes

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    Not something we have immediate plans for but appreciate the detail in your idea here, and we'll start to get an idea of the votes from community in this.

    In the meantime, will be dependent on how you enter transactions, but perhaps Bank Rules could enable you to apply based on proportions?

  9. It'd be great if the new bank reconciliation feature called Reconcile Period was available in Demo Company (US) so we could test it out without impacting live data.

    2 votes

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  10. Thanks for adding this feature. I'm trying it and I noticed that if you copy and paste a value with a $ in it, it will not paste properly. Sometimes when you copy paste opening or closing balances from PDF it copies including the dollar sign.

    Please allow to paste the value with the $ in it.

    Also, there doesnt seem to be any way of deleting a draft period. Please consider adding a small garbage bin icon in the period list and inside the period.

    Thanks!

    21 votes

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    Hi community, we appreciate the support this idea is starting to gain. Our product teams are considering this idea among other improvements as they plan their roadmap and I'll update here if there's progress.

    For the time being, you can change the dates to essentially reset this to the period you want to reconcile.

    To open the period in an editable state from the 'All periods' list:

    • Select the "Continue" button on a draft period, or
    • Select "Edit" on a locked period, then "Continue" in the modal to unlock it

    From there select the 'Edit date range' button in the top right hand side and change the dates to the period you want to work on. You can also click into the "Opening statement balance" and "Closing statement balance" fields to update these.

  11. Thanks for adding this feature. I'm trying it and I noticed that if you copy and paste a value with a $ in it, it will not paste properly. Sometimes when you copy paste opening or closing balances from PDF it copies including the dollar sign.

    Please allow to paste the value with the $ in it.

    Also, there doesnt seem to be any way of deleting a draft period. Please consider adding a small garbage bin icon in the period list and inside the period.

    Thanks!

    1 vote

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  12. When an account is reconciled and the report is created for the period, it would be nice if there was a little summary alert for the end date of the most recent report on the dashboard tile (i.e. reconciled up to and including 28 Feb 2025). This would help to make VERY clear immediately which accounts are reconciled to which date and help to plan which accounts need work or need a report and which are done for the reporting period you are working on.

    8 votes

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  13. I feel on the bank Reconciliation page, there should be links to both "Invoices owed to you" and "Bills you need to pay" I feel this would make navigation quicker and simplify the reconciling process.

    1 vote

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  14. Allow Tagging on Transfers Money transactions on the Reconcile Screen and Allow Find and Recode to add tagging to Transfer Money Transaction.

    2 votes

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  15. Can you recon your accounts once and next time it is the same I have alot of recons that are always the same How do you keep it for next time to recon

    1 vote

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  16. Across Xero it would be very useful (and intuitive) to be able to type dates in formats other than dd mmm yyyy (for example dd/mm/yyyy, ddmmyyyy, etc). The dd mmm yyyy isn't the usual way to enter and clients have commented that it's irritating that they can't type the date in (they use the calendar instead) because it didn't occur to them to try this format, and even when you are aware the habit when typing dates into these boxes is to use one of the more common formats so it can lead to errors

    4 votes

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    1 comment  ·  Admin →
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    Hi Jonathan! Thanks for sharing this great suggestion about allowing more flexible date formats in Xero. We can see how being able to type a date in different formats (like dd/mm/yyyy) would be a much quicker and more intuitive experience for many, and acknowledge that this functionality is available within other areas of Xero.

    We've also added the supporters of this idea to these two similar ideas; New invoicing and Fixed Assets.🙂

  17. 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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  18. 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.

  19. When reconciling bank account, then publishing it should display the bank details as setup in chart of accounts - it just just says bank reconciliation. So makes it hard to know which report is which. Once reconciled it should default to the the next date so you don't have to change dates continuously.

    2 votes

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  20. Hi, Please can we have the ability to allocate past years overpayments to invoices outstanding after the accounts are closed. These accounts do not form part of the main ledgers, being personal accounts, therefore the allocations should be made possible, as they were in Microsoft MOA. This would tidy up much of the personal accounts for customers and suppliers.
    I look forward to a favourable response.

    Supplier Accounts - Also, are you looking at being made available, statement histories for the suppliers as asked for several years ago and Xero said they were working on it? This is very much…

    1 vote

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    Hi Iris, it sounds like you're using Lock dates here and would like to allocate credit from an overpayment that was created in a locked period to an invoice after the lock date.

    Atm, if you'd like to allocate credit you could either remove the lock date to do this, or apply a refund to the original overpayment and recreate and apply the overpayment for a date post the lock date. We'll continue to track the interest of this here, however want to be open that we don't have plans to change the behaviour of lock dates currently.

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