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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. After uploading or emailing files to Xero, have it perform some sort of OCR and create a transaction, or spend money or something. It's almost like opening a beer and not drinking it. Please Xero at least 'take a sip'. Just left MYOB ofter 10 years, this is automatic in MYOB! I think the idea here is to make the computers do more work and we do less......right?

    4 votes

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    Hi Scott, returning to your idea here I wanted to share a few different options depending on your needs that could help. As you may be aware we have Xero Expenses that has a capture element that will read your receipts that are uploaded to transcribe into the expense claim receipt, alternatively there is the ability to email to bills to capture and create a draft bill in your organisation, and we also have a new feature in bills that'll be rolled out to everyone soon where you can upload a file directly from your device to create a draft bill using the detail of your upload.

  2. Issue - Bank Transactions Auto Deleted by Xero System

    Hi Xero, i would like to suggest, please add 'Deleted' status in filter function. Because recently i just imported approximately 10,000 transactions into xero and it stated there 150 are duplicates and auto deleted by xero system, which is not duplicates actually. To find one-by-one, page-per-page really become troublesome for us in Statement Lines section and require lots of time. Also i have tried to open the one i just imported in Statements section, it keeps showing error code 500.

    Therefore, the other workaround would probably to find deleted transactions using…

    4 votes

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     ·  0 comments  ·  Reconciliation  ·  Admin →
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  3. The chart of accounts should really have opening stock, closing stock and dividends as these are items that are usually needed, or perhaps some codes should be blank and we can amend them to our clients needs. The Chart of accounts are currently very basic and when adding a new code it should give you the available codes under each section i.e. for direct costs give an indication of which 300 code is available and where it should be rather than us having to guess.

    4 votes

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  4. Change to New Trial Balance

    If the trial balance is set to cash rather than accruals I can no longer see the depreciation and accumulated depreciation accounts. This is a pain for clients who report on a cash basis but still have depreciation. These accounts should appear on cash or accruals as this does not effect whether it is claimed in the tax return.

    4 votes

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  5. Would be good to have in Spend Money option to insert multiple lines like in Bills & Invoices

    4 votes

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     ·  1 comment  ·  Reconciliation  ·  Admin →
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  6. Allow multiple contacts for the bank fee adjustments. When we have a number of customers paying via card in one day it automatically pays the full amount of the payments into our account the following day but each customer has a bank fee and it would be helpful to add this for each customer.

    4 votes

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  7. To quickly get to your most recently reconciled transaction/s (to quickly correct errors that you see as you press OK while reconciling), click the search bar and have the most recently reconciled transactions linked there ready to go.
    Instead of having to go through the bank statement or account transactions and then locate the transaction that needs updating

    4 votes

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  8. It would be really helpful to be able to group bank accounts in a similar way to grouping Contacts. We have multiple currency accounts and base currency accounts as well as credit cards and to be able to group them in different ways would make checking them much easier. Eg group into GBP Current Accounts, Currency Accounts, Cash Currency Accounts, All Cards etc

    4 votes

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  9. Is there an option to show "Manual Bank Reconciliation Date" rather than Reconciled Date? The reconciled date is system generated and it does not mean much if the balances are out to start with. This would allow the user to know when bank rec was actually performed by a human.

    4 votes

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    Hi Jo-Ann - when you say you'd like to view the date the bank account was manually reconciled would this be on the org's Dashboard?

    As a means of viewing this information at present - you could run the History & notes and view only Bank transaction items where you'll see the name of the user and date that the last transaction in the org was reconciled. 🙂

  10. There has been an ongoing BUG in Xero, on the bank reconcile screen, when you select more details about the transaction, it covers the invoices. If you have invoice references in the details, you have to close that then select the invoices in the reference. Xero should not cover the invoices, but display the details along the side, see CASE BUG CX0013467462 for full details and screenshot.

    4 votes

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    Appreciate your screenshot and can see what you're meaning here, Craig. 

    While this is not a bug we appreciate this is not ideal and understand why you'd like to be able to view these to items at once. Currently these are two separate features in the Reconcile screen which is why they work in isolation and the More details view can be open and closed while working with Find & Match. 

    We don't have immediate plans for changing this behaviour, however I've shared with our team and we will let you know if there's any change planned. 

  11. My client uses personal funds for large part of expenses. I have to enter them manually (using Spend Money) and after each entry the screen defaults back to today's date.
    Would be useful if Xero defaults to the last entered transaction date, when using Spend Money, instead to today's date.

    4 votes

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  12. I have noticed that automatic numbering of accounts is different that what is general used in Canada. There should be a very clear option when starting a new Xero account to select Canadian numbering and an option to change the numbering to Canadian. For Example, in Canada, Assets start with 1, Liabilities start with 2, Equity start with 3, Revenue start with 4, Cost of Sales start with 5, Expenses start with 6,etc... I have a client who went ahead and started using Xero and it set up the accounts wrong and some accounts you cannot change the numbering to…

    4 votes

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  13. When a shopping cart item is purchased via Stripe (as opposed to via an invoice from Xero), the transaction goes to the bank and then is imported into Xero via the bank feed. Because of this, none of my transaction totals or associated fees come through, forcing me to manually adjust every single transaction to properly account for the fees in my bookkeeping. This is unsustainable and ridiculous. When I used PayPal, I was able to set up PayPal as an account and therefore properly reconcile everything coming in through that portal and then associating the transfers with the amounts…

    4 votes

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  14. Tracking codes cannot be defined for "Minor adjustments", normally used when an invoice payment is incorrect by a small amount. These minor adjustments should be recorded against a P&L "rounding" account, but then when running a P&L across different Tracking Codes there are then always "unassigned" entries.
    To that end an ability to define a tracking code at point of creating the minor adjustment, or to edit one in from the "rounding" account.

    4 votes

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  15. Can we have a report showing the last date of bank reconciliation completed for clients?

    This would be beneficial for me, listed by clients but also for the client.

    4 votes

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  16. I find the 'Find & recode' tool very useful, but it would be really helpful if the condition 'Currency' could be added, so that we can choose to see only transactions in a certain currency.

    Since MTD for VAT, more and more clients are using digital links as software that automatically extract the VAT amounts from receipts (e.g. Dext), including receipts from other countries. They publish them to Xero and are not aware that they are overclaiming VAT. To make corrections and change these transactions to 'Zero Rated Expenses' we use 'Find & recode'. It would be much easier if…

    4 votes

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  17. We have started working with a new bank and they use OFX v2. It seems Xero only supports v1.
    Would be great if Xero can support this new version of OFX.

    4 votes

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    3 comments  ·  Bank feeds  ·  Admin →
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  18. Would be great to have the ability to attach docs to an unreconciled line under the discuss tab. Eg when you have the receipt, but waiting on answers to reconcile. Would save a lot of time not having to track the invoice/doc back down again. Would be ideal if it would auto attach it when you have all the info to complete the recon.

    4 votes

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  19. In addition to the bank account name showing on the bank reconciliation report, it would be good to also show the account number. This would make it easier to match the bank statement with the bank account in Xero.
    For example, my client may have it as Business Account 1, Business Account 2 in Xero but the actual account name is ANZ Transaction Account, NAB Cheque account - so easily being able to match the account number when checking period end balances would make it much quicker and easier.

    4 votes

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  20. Can the bank feed expiry date be shown on the dashboard or perhaps in the bank account screen rectangle for each account. It is a frustrating task to have to repeatedly contact clients to update this .... and worse they tend to blame Xero for the functionality rather than GDPR

    4 votes

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    1 comment  ·  Bank feeds  ·  Admin →
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    Thanks for showing your interest through product ideas. It'd be good to get more understanding of what seeing the expiry date of your bank feed on the dashboard would help you achieve? And, how you feel this will benefit your workflow.

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