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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. A common problem importing bank files is the reversal of Debits and Credits. This is especially common with Credit Cards.

    The "fix" that Xero recommend is to modify the file with a spreadsheet editor. This is only possible with CSV files and is error prone.

    A setting to reverse credits and debits when importing bank files would be immensely useful when your credit card provider statement has it's debits and credits reversed.

    Or maybe allow a bank to be treated as a Liability?

    8 votes

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     ·  3 comments  ·  Reconciliation  ·  Admin →
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  2. Imported bank statements - propose for Xero to spot "duplicate" transactions as to remedy this situation I had to process a large number of lines one by one across a number of different accounts

    8 votes

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    HI everyone, returning to the idea here we're going to move this to Not planned. However, we understand wanting to ensure the accuracy of your bank statements and reconciliations in Xero.

    As mentioned in my last update - Xero won't automatically delete duplicate statement lines for you, however you can run the Duplicate statement lines report to help identify and remove duplicates, so you can choose which of the statement lines in your bank account you'd like to keep and reconcile.

    There is also the Statement exceptions report in the Bank Reconciliation report pack that'll show where statement lines have been deleted in an account due to being a duplicate.

  3. Bank feeds from Bendigo Bank, and I presume all other OSKO payments.is being fed into the reference field. It concatenates the description, payee and reference field.
    The problem is the field is now too short with new OSKO payment descriptions, so the reference field is often dropped off making some transactions difficult to match. A simple solution is to make this field longer.

    8 votes

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    1 comment  ·  Bank feeds  ·  Admin →
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    Hi everyone, thank you for your votes and comments on this idea, and our apologies for the delay in providing an update.

    For context, the issue is with how data is supplied to us from the bank. For direct feeds, the information you see in Xero, including the format of the reference field, is provided directly by the financial institution. We are not able to control how this information is formatted and sent to Xero.

    For those of you experiencing this with Bendigo Bank, we recommend contacting the bank directly to request that they make changes to the way this OSKO payment data is provided on their feed.

    In the meantime, we will leave this idea open to continue tracking support on this.

  4. Ability to add custom columns to the Depreciation Schedule report to add more information such as market rates for resale

    8 votes

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  5. Can we please have the ability to export bank statement search results to a csv file?

    Every day I wish that was possible!

    Thanks

    7 votes

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    Thanks for sharing your idea of exporting bank statement search results to CSV. 

    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.

  6. 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.

    7 votes

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     ·  0 comments  ·  Bank feeds  ·  Admin →
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  7. When reconciling the bank, I always like to start with 'quick wins' and attempt to reconcile the suggested matches first. After the recent improvements, surely it now makes sense to add a filter on the bank feed reconciliation screen to 'show lines with suggested matches'?

    (This software coding must already exist because there is an option on the cash coding tab to 'Show lines with suggested matches' like in the screenshot)

    7 votes

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     ·  2 comments  ·  Reconciliation  ·  Admin →
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  8. Can Xero please bring back the function enabling the details to be printed with the Chart of Accounts. It was a feature when we converted to Xero, but is no longer.

    7 votes

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  9. having a monthly average additional column option in the account watchlist would be ideal and I would have thought a default setting that most people would want on their account watchlists...

    7 votes

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  10. It would be wonderful if in Bank rules we could also include the fee that will be taken out.
    Eg a deposit of $100 from Fresha attracts a $2 fee. The bank feed shows $98 . Is there a way to be able to bank rule this

    7 votes

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    2 comments  ·  Bank feeds  ·  Admin →
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  11. For smaller companies, it would be helpful to have the option to receive a notification by email or text when there are bank transactions to be reconciled.
    In larger companies, it's a daily routine to do the bank rec of course but not so in smaller companies so a notification would be very handy!

    7 votes

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     ·  1 comment  ·  Reconciliation  ·  Admin →
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  12. Consolidate Depreciation posted to GL per asset category - currently my deprecation is reflecting per asset in the GL expense account. The Asset Register and Depreciation Schedule already serve the purpose of the per line item amount and basis for a reconciliation. Duplicating the detail adds a large amount of data into my GL ,especially when the asset base starts to grow. Please can it rather be consolidated in the GL per asset category per month ?

    7 votes

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  13. We would like the option to setup a data feed in our Xero file for BPoint transactions to feed directly into Xero (like we have a data feed for our CBA business account). Currently these transactions come in through the CBA business account with no detail other than that they are a BPoint payment, whereas if we had the BPoint data feed setup we could receive all of this information (client name, invoice number, amount etc) to reconcile automatically.

    7 votes

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    1 comment  ·  Bank feeds  ·  Admin →
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    Hi everyone, thanks for your votes on the idea for a direct bank feed for BPoint. We're keeping this idea open to continue gathering support from the community.

    At present, the level of transaction detail that appears in your main Commonwealth Bank (CBA) feed is determined by the bank. If you'd like to see more detailed BPoint information within your standard bank feed, we recommend passing this feedback on to CBA directly to see if they can make changes to the data they send.

    You also may wish to explore the option of manually importing your BPoint transactions as a potential workaround to capture the details you need. If you can export this transaction data from BPoint directly, you can then import the file directly into Xero to reconcile.

    We will continue to keep an eye on the interest for this idea.

  14. Be able to setup the ATO integrated Client Account as a Bank Account and receive a direct feed fro the ATO (or relevant Tax Authority) for transactions including Penalties and General Interest Charges.

    7 votes

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     ·  0 comments  ·  Bank feeds  ·  Admin →
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  15. To lock future dates to avoid invoices being captured in the incorrect month or year. Or to show a warning when the invoice is posted to make the user aware that the invoice is post dated

    7 votes

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  16. Povide the ability for the bank rule to code to Items/Products/Services codes as well as GL codes

    7 votes

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  17. I have a number of accounts that are archived. However they still appear in the dropdown options when I reconcile an account. This makes for confusion when selecting accounts.

    7 votes

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  18. Cash Coding Discussion/Notes: When I'm cash coding transactions, it would be really helpful to access the discussions/notes on the cash coding screen. When I have a question about a transaction, I have to go find it in the account to write a note for review. It'd be great to do that straight from the cash coding screen.

    7 votes

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  19. This feature was included in the old user interface for Bank Rules, and with the new interface that was rolled out, this feature is no longer available. Instead, I'm forced to go to the COA screen to add a new COA code, then refresh my Bank Rules screen to then be able to choose that account. The time this adds, on top of the already manual process to add bank rules, really adds up. I'd love to see this ability again.

    7 votes

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  20. 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.

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