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Banking & chart of accounts

Customer ideas for bank accounts, bank feeds and chart of accounts

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  1. Bank : I work in practice an an issue I see day in and day out is unreconciled Account Transactions. Unlike the 'Reconcile' tab, there is no number in brackets to indicate how many unreconciled Account Transactions there are to prompt people to look at it.

    Most of my clients didn't know about the Reconciliation Report, all they concentrate on is getting the number on the 'Reconcile' tab as low as possible.

    I would really like to see the number of unreconciled Account Transactions to appear on this tab.

    15 votes

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     ·  1 comment  ·  Reconciliation  ·  Admin →
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  2. It would be helpful to access the reference field in the bank reconciliation screen without needing to click "add details"

    15 votes

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    Hi team, thanks for sharing how this idea could make your workflow a little simpler when reconciling. While we're continuing to work on efficiencies to reconciling in Xero, I want to be open that adding the reference field to the main screen is not in our short term plans. We're continuing to stay engaged with the interest from our community across ideas in this space and if there is any news we will share with you, here.

  3. It would be nice to have the option to attach files when using cash coding on the bank. To attach a file, I have to go back to the bank recon tab, find the entry and then attach the file. This wastes a lot of time. A small attach file icon or the option to attach a file on the drop-down will save a lot of time.

    15 votes

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     ·  4 comments  ·  Reconciliation  ·  Admin →
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  4. As an accounts practice, we are looking to reconcile bank in timely manner, and not particularly concerned about supplier payment allocations against particular invoices. Therefore we would like to see cash coding option for Advisor to allocate purchase invoice payments against supplier account as overpayment, as we would be reconciling supplier balances after bank is all allocated. We would then reconcile overpayments in each individual supplier account.

    15 votes

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  5. Find & Match function under Bank Reconciliation only allows to search for individual invoices to then pick invoices one by one. Please introduce the option to enter multiple invoices in the search field using a delimiter to then pick multiple invoices to reconcile. This would improve the reconciliation process materially.

    15 votes

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  6. Please set the bank reconciliation lines on the right-hand side to pre-populate with the details on the left=hand side, that is as long as there is no 'match'' and it is not a transfer. I'm mystified as to why I have to copy and paste all of the information from the left side to the right side when Xero could do this in a jiffy. Presently the pre-population remembers a long lost description I may have made such as 'birtthday gift' and Xero is remembering this forevermore. It would be simple and accurate to pre-populate especially since valuable information (such…

    14 votes

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  7. When I enter a reference in batch deposit, this does not pull through to the bank reconciliation. On the bank reconciliation report, the Description is "Payment: multiple items" and the Reference field is blank. This is not useful as I have to go into each transaction and see which company the receipt has come from. Why enter a reference when it does not appear on the bank reconciliation report? When I try to search to match deposits using the company name, these deposits do not appear as the Description is unhelpful. If there are smaller batches which add up to…

    14 votes

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  8. Ability for Xero to treat an overpayment with VAT on - I don't want to use a secondary debtors control account.

    We have a client on the VAT cash accounting scheme and we have a number of overpayments which need to hit the debtors control account. When I run the VAT return, these amounts are not being captured for VAT purposes since there is no option to select a tax rate when using the overpayments option.

    Should I treat these as prepayments, Xero will allow me to code these to a nominal account with VAT. However, the nominal code I…

    14 votes

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  9. Banks Rules - Add Billable Expense

    This will save the company a lot of time having to manually set a billable expense when we need to on-charge a certain % of a recurring transaction

    14 votes

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  10. For Xero to expand their bank feed connections to develop a feed that supports Peoples Security Bank and Trust - https://www.psbt.com/

    13 votes

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    4 comments  ·  Bank feeds  ·  Admin →
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    Thanks for sharing your idea, and letting us know the changes that matter most for you.

    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.

    In the meantime, bank statements can be manually imported into Xero. For more information on this, please see the About manually importing bank statements support article.

  11. When an expense claim is created via Xerome a 'spend money' transaction is created instead of a bill which means that if there is more than 1 payment against this claim I cannot opt to split the transaction when reconciling the payments. There needs to either be an option to split or the expense should create a bill rather than a 'spend money' to enable easier reconcilliation

    13 votes

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  12. Please allow bank feeds to be connected via Discovery Bank. This is one of South Africa’s largest and fastest growing banks used by businesses.

    13 votes

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     ·  4 comments  ·  Bank feeds  ·  Admin →
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  13. Can we add a date filter within the cash coding tab so we are able to only cash code transactions for a particular period?

    13 votes

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  14. Universal search should include Unreconciled Transactions Too.

    We often search the amount of spend money or bill in universal search but we cannot find the unreconciled transaction through the Universal Search.

    Kindly do something for this..

    Many thanks

    13 votes

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  15. I am not happy with the treatment of dishonoured/reversed payments on Xero when it comes to debtors/customers (and similarly creditors/suppliers) (see attached support screenshot).

    Dishonoured payments must be processed via the accounts receivable and payable channels as is the custom on any other accounting package.

    The customer's records and statements must reflect when payments were dishonoured (true refection) and it should not be handled outside of the customer's module as Xero is currently doing (by deleting the original payment from the customer and allocating it a GL account and then allocating the dishonoured reversal to the same GL account).

    The…

    13 votes

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  16. New bank rec reports are based on the start of the month to the current date as a default. The old bank rec report just had an end date. Would like a fast way to move end date field and not have to also alter the start date.

    13 votes

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    Hey community! As a few of you have rightly pointed out, the previously posted workaround isn’t suitable if your end date is prior to your start date. In this case, you will have to update both start and end fields. 

    Thank you to everyone that flagged that, and apologies for the confusion.

    Because the the Bank Reconciliation summary lives in the Bank Reconciliation reporting pack, the date picker available is the same as the other bank reports (Bank Statement and Statement Exceptions).

    Understand that some users would prefer an ‘as-at’ date instead, similar to the older report. In the meantime, you can select the same date in both fields to achieve this.

    As that doesn't quite solve this for some users, we're leaving this idea open to continue to collect and share your feedback with our product team. 

  17. TIME SAVER: I would like to be able to quick edit the reference details in the transactions list view, instead of having to click on each transaction > edit > save.

    13 votes

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  18. Be able to export to Excel the Account Transactions screen from the bank that shows the unreconciled items

    13 votes

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    Hi all, I wanted to share that while there's no export option on the Account Transactions screen itself, it is possible to export a list of unreconciled Account Transactions with the Business Bank Account Reconciliation Summary report. If you export a copy of this to Excel you'll find the sections for Plus Outstanding Payments and Less Outstanding Receipts which are the unreconciled account transactions. Hope that helps 😊

  19. Please instate bank feeds for ABN AMRO bank (the Netherlands). I joined Xero for its highly automated systems. Now I still have to download and import bank statements manually.

    It adds insult to injury for the fact I have to sign up to a premium plan to be able to account in a mere two currencies. For small traders like myself with low turn-overs and no need for the majority of features larger companies need, this feels deeply inappropriate and unfair. (another idea about this topic is already live elsewhere)

    12 votes

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    1 comment  ·  Bank feeds  ·  Admin →
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    Hey everyone, thanks for the support on this idea.

    While our Open Banking connections in the EU currently cover only Denmark and Ireland, you can still keep your ABN AMRO transactions up to date in Xero by manually importing your statements.

    We'll keep en eye on the support for this here, and let you know of any updates in this area. Thanks for taking the time to share!

  20. While in the reconcile screen, when I type in who and it pulls up my contact, I would like it to automatically default to the gl acct that I already have on the Contact card. I have to click on details then go to the gl box click on it to see what the gl acct is. Sometimes lets say Costco it could either by Office Supplies or Auto Expense(gas). So when I type up the Costco contact I would like to see what gl acct it is going to and if I need to change it to Auto Expense…

    12 votes

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