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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. 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.

    35 votes

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  2. As the old 'GoCardless for Xero' integration is no longer being developed.

    And the new 'GCiX' GoCardless as a payment service integration is even less functional.

    Stripe, Paypal, Tyro and eWay all have bank feeds.

    We need a functional bank feed for GoCardless.

    33 votes

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    12 comments  ·  Bank feeds  ·  Admin →
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    Hey everyone, thanks for all the support and engagement on this idea. 

    To be transparent with you all, building a dedicated bank feed for GoCardless isn't something we have in our plans right now.

    While we don't have a direct bank feed for GoCardless, we still want to make sure you can easily reconcile these payments in Xero - When your customer pays, Xero automatically reconciles the individual invoice payments and fees in a dedicated GoCardless clearing account. You'll then just need to manually reconcile the bank transfer when the payout from GoCardless arrives in your bank account.

    We’ll be sure to post an update here if our plans change.

  3. If a Xero client has a credit card that is cancelled due to scam or new card etc, the only option is to create a new bank feed for the card so you can continue to get the data. In this instance, you end up with two bank accounts on your Xero file, both with a balance. At the moment, you can only do a transfer to move 1 balance to the other, than archive the one not needed. It would be nice to be able to merge the two together so that the balance works and the transactions stay…

    33 votes

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     ·  9 comments  ·  Reconciliation  ·  Admin →
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  4. Allow other users other than the person that sets up a feed ability to refresh the feed.

    Purpose: Save time and increase efficiency of being able to perform bank reconciliation

    33 votes

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    9 comments  ·  Bank feeds  ·  Admin →
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    Hi everyone, we understand that it's not ideal when the one person who set up a bank feed is away, causing delays to your reconciliation.

    This is a tricky one, and the limitation you're experiencing is due to how certain bank feeds work, when supplied via our third party provider, Yodlee. These feeds are tied to an individual's online banking login credentials. When a bank requires multi-factor authentication (MFA) – like security questions or a one-time code – only the user who originally set up the feed can provide those details to refresh it. This is a security measure required by the bank, not by Xero, and you can read more about this here.

    As noted by others here, one option is to have another user deactivate and then reactivate the feed with their own login details. A different approach could be for the bank account holder to arrange…

  5. The lock date feature is great for preventing back posting as a whole but we would benefit from a lock feature for specific nominal accounts - to prevent colleagues posting to a specific account until dates are unlocked.

    32 votes

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    Thanks for your idea, Sarah - We'll get a sense of the interest here.

    Perhaps in the meantime you could look to use the Archive and restore options for an account in your chart of accounts as a way of managing this? 

  6. When a payment is made into the business account an email notifcation is sent automatically.

    30 votes

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  7. The most important information in the statement line is usually at the end of it, the bit that is always hidden. I've been asking for this since 2019. Its a bit frustrating to see that the statement lines in the Reconciliation tab are now showing some kind of machine-generated guess about what the purchase is, when people have been asking for ages for the full statement line to be shown. Can anyone explain why Xero is so reluctant to do this simple thing?

    30 votes

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     ·  9 comments  ·  Reconciliation  ·  Admin →
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  8. At the moment you only get a small amount of the bank reference line to see for transactions so I find myself constantly having to click on the details link to reconcile. Can we have the option to display the whole (or at least more) of the reference line?

    30 votes

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  9. Filter the bank reconciliation by spend or received

    Simple to complete the debtors first / or creditors

    29 votes

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     ·  7 comments  ·  Reconciliation  ·  Admin →
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  10. Adding an undo option when users are doing reconciliation in Xero.

    Purpose: Undo button will make users reinstate the transactions easily if they remove it by mistake.

    29 votes

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  11. 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. 

  12. 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.

    27 votes

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  13. Currently, Xero facilitates bank feeds with Investec (South Africa) although does not allow bank feeds to be setup for the UK & Channel island branch - This connection needs to be setup.

    26 votes

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    0 comments  ·  Bank feeds  ·  Admin →
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    Hi everyone, really appreciate you sharing this idea.

    We see how a direct feed for Investec (UK) would create a smoother workflow and save you time when reconciling.

    In the meantime, the best option is to bring your transactions into Xero by manually importing your statements.

    A direct feed for Investec (UK) isn't on our immediate roadmap right now. However, we're keeping this idea open for voting to see how much interest it gets from the community. Every vote and comment helps us understand the demand and prioritise what's most important to you all.

  14. 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.

    26 votes

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  15. When you have two or more invoices in multiple currencies from the same payee, you are currently unable to reconcile them to one payment.

    25 votes

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  16. Some of our customers are paying upwards of 100 invoices at one time. The ability to import a csv into Xero (that can be extracted from the remittance advice provided from the customer) would save a lot of processing time instead of manually using the Find & Match feature in the bank rec screen.

    25 votes

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  17. 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.

    25 votes

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  18. Create batch files for spend money transactions so if a payment needs to be made to say the ATO can create a batch file and upload to bank without needing an invoice.

    25 votes

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  19. Ability to identify transactions that are transferred between related entity loan accounts that have separate Xero accounts.

    Purpose: a huge time saver for partners who are dealing with multiple Xero orgs.

    25 votes

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     ·  4 comments  ·  Reconciliation  ·  Admin →
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  20. The Discuss Tab should have a history trail showing the user and date that a comment was submitted.

    Also registered comments should not be editable or removed once submitted. The ideal situation would be if the tab took on the functionality of a chat system also allowing to tag a user of that particular company in a discussion prompting a notification to the user.

    Once a transaction is processed, the notes should be attached to the transaction in the history and notes section for future reference.

    24 votes

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     ·  7 comments  ·  Reconciliation  ·  Admin →
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