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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. On the reconciliation screen in the bank account, if a transaction is being picked up by a rule, could we see both which rule it is being picked up by as well as the name, account, description, and tax details that the rule is using?

    10 votes

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    Thanks for the idea, Garrett. This isn't in any plans at the moment, but we'll keep an eye on it as the team are thinking about this in the wider context of the bank reconciliation process.

    In the meantime a workaround could be to include those details in the title of your bank rule. For example Supplier Name - Motor (20% VAT)

  2. Archive bank transactions so you can only see for example, from the start of that financial year or the start of the year you are in. Currently we can see all transactions from when we started to use XERO in 2021.

    10 votes

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

    10 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.

  4. Our clients would like the option to show reconciled and uncoded options on the same uncoded items report. Moving from MYOB/Banklink they are used to reviewing all transactions and having the ability to add notes for us to then code and add in the accounting software. We have many clients who fill in this form for us to then enter into the software and at present then only way to show this is running a bank reconciliation report.

    10 votes

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    Appreciate familiarity to the way your clients may have worked with another system. 

    As noted in the initial idea while there's specifically a report for uncoded statement lines, the Bank Reconciliation report will provide a list of all statement lines (coded and uncoded) - Is there something missing within this report that you're looking for in this? 

    @Wayne, livestock trading is quite different to what's being asked for in this thread - you can join the idea for this across here

  5. My suggestion is different colors for New Spend Money and New Receive Money Tab so they are easy to differentiate. Even if the New Receive Money Tab could be a darker tone of the same color, it would really helpful and would still look good.

    10 votes

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  6. Our clients would like and update to the bank reconciliation screen, color coding spent items and receive items so that they can tell at a quick glance if it was money that has come in and money that has gone out of the bank account.
    Having everything as white makes it difficult to do their coding.

    9 votes

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    Thanks for sharing your idea to colour code spent and received items on the bank reconciliation screen.

    We've reviewed your request and it's a great one. Now, it's up to the community to show their support.

    Be sure to share your idea with colleagues and others who would benefit from this feature so they can add their vote and comments. This will help our product team see just how important this improvement is to our users.

  7. 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)

    9 votes

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    0 comments  ·  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!

  8. In the Bank Rules it would be very helpful to have a tick box that allows the full original description from the transaction in the bank, to be allocated when you reconcile the transaction.
    Much like the Set Reference as 'reference/description/etc' option but specifically to include the original transactions detail.

    E.g. Bank rule & contact would be: 'Pharmacy'
    - but the original description in is a transaction from 'Boots £3.50' or 'Superdrug £14.00' so when you apply the bank rule and you check the transaction in 'Account transactions' under the specific nominal (e.g. personal care), the description would say the…

    9 votes

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  9. In the bank account settings, add an optional data field to enter in the Overdraft limit on a bank account. Then on the dashboard screen, show the net available balance of current bank balance + the undrawn Overdraft limit.

    Purpose - to save the user from having to manually calculate how much is available to make supplier/payroll payments or login to internet banking prior to check.

    Should also be a simple feature to add.

    9 votes

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     ·  4 comments  ·  Bank feeds  ·  Admin →
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  10. When creating new 'spend money' transactions during bank reconciliation, allow the tax setting to match the tax setting in financial settings, if set to tax exclusive, so that it doesn't just default to tax inclusive.

    9 votes

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  11. I would love the ability to view the Journal entry created by each transaction, from the transaction itself (without having to leave the transaction to pull a journal report). QBO has this option and I find it very useful.

    9 votes

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  12. I'd like the Reconcile pages to allow me to select some all of my bank accounts to display. This would aggregate the unreconciled statement lines and display them all in date order to be reconciled all the same time.

    Reason 1: Convenience. I use several bank accounts and would prefer to reconcile all of the transactions in one go.

    Reason 2: Error reduction. The most common error I see relating my clients' bank balances is their misuse of Transfer (setting the wrong account, using it for accounts that aren't linked etc.). If they could see both accounts and therefore both…

    9 votes

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  13. Reconciliation to be matched by INVOICE NUMBER rather than amount

    9 votes

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    Hi community, appreciate the interest for being able to match based on the invoice number, even if the amount of the statement line and transaction in Xero differ. While this isn't something we have plans for at this stage, it'll be good to get a sense of the interest for this here. 

    Just to confirm for everyone coming across - The way suggested matches work currently is based on the amounts of the statement line and transaction being the same and also looking at most of the fields of a statement line and comparing with transactions entered to show a preferred match.

  14. When completing Bank Reconciliations (especially for those customers with 5+ bank accounts) it would be useful to see an indicator of Unreconciled Items in the drop-down list at the top left corner of the screen. This could either be the number of unreconciled items, or simply an asterisk to indicate there are items to be reconciled.

    I often use this drop-down to switch between their most-used bank accounts, but if there was something to indicate which accounts still have unreconciled items, this would be immensely helpful and save a lot of time switching back to the main Bank Accounts screen…

    9 votes

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  15. Need a process to close month end. After this process has been executed the month is locked and changes are not posted to it unless we unlock it first. This feature is available in other accounting packages

    9 votes

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  16. On the find and match screen, can we have the ability to expand the size of the window showing the list of transactions, so we spend less time on scrolling. The find and match shows 50 invoices at a time, but you have to scroll to see them.

    9 votes

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  17. Hi All,

    On cash coding screen, it would be great if there was an option to freeze the heading panels so you dont have to keep scrolling up if you have millions of lines to code. Eg: to uncheck all

    Thank you so much.
    Jenal
    Pullen Holdings (Pty) Ltd t/a CEPS

    8 votes

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    Hi everyone, just a quick update to let you know we’ve reviewed this idea and marked it as Gaining Support.

    The suggestion to add floating headers in the cash coding screen makes a lot of sense, especially for those of you working through long lists of transactions.

    We’re keeping an eye on how much interest this gets, so if it’s something that would help you, feel free to add your vote or leave a comment. That kind of input really helps when we're looking at what to prioritise next.

  18. 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.

    8 votes

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  19. I always want to reconcile my newest transactions first, as they are freshest in my head. It's actually become pretty maddening not having this feature.

    8 votes

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  20. Reconciling funds - I need to be able to save Reconciling items while I'm half way through reconciling.
    eg - I receive large amounts via bank statement - eg $16,000. That $16,000 will be made up of 10 holiday home bookings. Then I break down each booking into cleaning, credit card fees, our company commission, Airbnb commission, etc etc. Sometimes there may be up to 80-100 lines of items. Currently I can not save and it is really frustrating as it can take an hour to do and then if I have to leave or can't reconcile I need to…

    8 votes

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