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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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464 results found

  1. Improve the sorting functionality within the Cash Coding screen to sort by Account. When I review the transactions (esp ones that have rules) it's difficult to assess if they've been categorized correctly and might need changes.

    Additional ask would be to improve the sort logic that already exists. When you sort by Description it should show A-Z and then blanks at the bottom, or Z-A with blanks at the start. But you can see in the screenshot it's sorted by Description but one transaction is floating in the middle of blanks...why?

    36 votes

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    Hi everyone! thank you so much for taking the time to share your idea with us! We really appreciate you flagging that the sorting function on cash coding isn't quite sorting the blanks first, but instead is just going straight from ascending to descending by date (or vice versa). We are moving this idea over now so it can gather more support from the rest of the community. Please feel free to share it with any of your peers who would also love to see this feature implemented.

    We'll be keeping a close eye on this space in the meantime. Thanks again for your valuable input.

  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.

    35 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. 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

    35 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…

  4. 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.

    33 votes

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    Thanks for sharing your feedback on this idea, everyone.

    We’ve recently introduced a feature that may help with some of the needs raised here, and we’d be really interested to hear whether it’s useful for your workflow.

    Many organisations now have access to Smart Document Capture, with the rollout still continuing across regions. This feature allows you to upload files into Xero, review the extracted information, and create transactions from those documents, including spend and receive money transactions.

    You may also find importing a pre-coded CSV bank statement helpful, particularly if your organisation doesn’t have a bank feed available.

    To be transparent, we don’t currently have plans to support importing received payments. That said, we’d encourage you to try these features and let us know here how they work for you, and whether there are still gaps for your use case.

  5. 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.

    33 votes

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  6. 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.

    33 votes

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     ·  6 comments  ·  Reconciliation  ·  Admin →
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  7. 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.

    32 votes

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  8. Add a "not" argument to bank rules to allow for a greater control

    e.g. bank text does not contain "example" or, amount isn't "x.xx"

    32 votes

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  9. 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!

    31 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.

  10. Overpayments should appear in the Find & Match for Customers.
    If a customer pays their correct amount owing, but an overpayment on their account hasn't been allocated against an invoice, it is impossible to reconcile.
    Users have to go into Contacts, check if there is an overpayment, allocate the overpayment against an invoice then go back into the Bank Reconciliation page.
    Users should be able to tick the invoices being paid and the overpayment that was used to reconcile in Find & Match.

    31 votes

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    Hi everyone, we thoroughly appreciate the interest and sharing how this feature would be beneficial to you here.

    As you may have seen when reconciling or through other updates, we have introduced credit notes into the reconcile experience where you can now find and select credit notes directly from the Find & Match screen.

    We understand there are other transactions types our customer would like this functionality extended to and are continuing to consider how we may expand this overtime.

    We will share further any further updates around this with you here. Thanks

  11. Sales Invoices - Ability to edit a purchase order number on approved/sent invoices when accounts period is locked.

    Purpose - ease to amend non financial adjusting information.

    31 votes

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  12. There are often periodic top up payments for accounts (e.g. Tolls) and a periodic statement provided after the fact.

    It would be useful to be able to set up a bank rule to apply these and reconcile the prepayments as the statements come in.

    30 votes

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    Hey all, we really appreciate you joining in this conversation and adding your votes.

    We've reviewed this idea, and now it's up to the wider community to get behind it.

    You might like to share this idea with any colleagues that this could benefit, so they can also add their votes and comments to support it.

  13. Placeholders for dates in bank rules descriptions for example reconciling monthly payroll and having the month it relates to pull through on the description through a bank rule.

    30 votes

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     ·  6 comments  ·  Reconciliation  ·  Admin →
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  14. If you have multiple invoices for the same client, a feature that allows you the option to automatically apply bank transactions receiving money from the client to the oldest invoices first moving closer to date would be mighty helpful. At the current moment, we have to manually split out each transaction to the invoices when reconciling bank transactions; it stands to reason that if you have a client with multiple invoices and they pay off in chunks, you would want to apply payments to their oldest debt first; having this as a selectable option for a contact / bank rule…

    30 votes

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    Hi everyone, thanks for keeping this conversation going and sharing your workflows. It has been awhile since this was raised, so we just wanted to refresh the status.

    We understand you’re looking for payments in bank reconciliation to automatically match against the oldest outstanding invoices first, given that other details are relevant.

    Having more control over the matching order could make payment allocation easier for businesses managing a high volume of invoices.

    We’ll continue to track feedback and interest from the community for this idea, so please share your suggestion and use case for this feature.


  15. When preparing monthly CIS returns on xero you need to create a bill for the subcontractor and reconcile/mark the bill as paid. When you have clients that have on average 80 to 120 subcontractors the bill creation even with a bill template can be time consuming.
    Something to consider is whether creating a bill could be removed from this process and the CIS return be prepared simply from a spend money to a CIS enable contact.
    Also something else that can be time consuming when dealing with this volume of subcontractors is downloading the monthly CIS payment certificates as clients…

    29 votes

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     ·  9 comments  ·  Reconciliation  ·  Admin →
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  16. When you have two or more invoices in multiple currencies from the same payee, you are currently unable to reconcile them to one payment.

    29 votes

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  17. While it is possible to use Find & Recode to edit the contact, it's not currently possible to use this feature to edit line item descriptions, this would need to be done on the individual transaction themselves.
    Can XERO please look into this and bring this new feature in future to save time.

    29 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.

    29 votes

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  19. 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.

    28 votes

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    Hi everyone, thanks for your support in this idea, We appreciate the need in having more visibility of the last reconciled period of a a bank account at a quick glance.

    We're keeping a close eye on the needs around Reconcile period and are tracking demand in this type of reporting closely. We'll be sure to share if there are any updates with you here.

  20. 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.

    28 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.

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