Banking & chart of accounts

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1. System generated OR and PV

   Is it possible to have the system generate PV and OR for each outgoing payment and incoming payment for easy reference and traceability purpose, so that we need not download every payment into PDF and rename them one by one. Its time consuming and non value added.

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   1 comment  ·  Bank accounts  ·  delete…  ·  Admin →
   Feedback  ·  AdminAnis Anuar (Admin, Xero) responded

   Hi Ling Ling, we've moved this to Feedback status for now, as we need a bit more detail to fully understand how it would improve the current process.

   Could you clarify what the abbreviations PV and OR stand for in this context? It would also be helpful to explain how you envision the system generating them and the benefits this would bring to handling payments.

   If you can provide a bit more context, we’d love to review the idea again. Sharing these details will also help other users understand your suggestion better and could increase its chances of gaining traction in the community. You can refer to our Xero Central article for more information on what makes a good idea.

2. Two Xero Profiles, One Bank Account, "Reconcile" needs to sync between the two profiles

   Right now, I’m running two separate Xero profiles — one for my workshop and one for my retail business — but both use the same bank account. Because of this, the same bank transactions feed into both profiles, which means I’m having to reconcile everything twice.

   In the Reconcile screen, it would really help to have an additional dropdown that auto-defaults to the profile I’m currently in, but also lets me switch to the other one. Essentially, the two profiles would need to sync with each other, so the figures stay accurate, while still allowing me to view revenue and expenses separately when needed.

   Right now, I’m running two separate Xero profiles — one for my workshop and one for my retail business — but both use the same bank account. Because of this, the same bank transactions feed into both profiles, which means I’m having to reconcile everything twice.

   In the Reconcile screen, it would really help to have an additional dropdown that auto-defaults to the profile I’m currently in, but also lets me switch to the other one. Essentially, the two profiles would need to sync with each other, so the figures stay accurate, while still allowing me to view revenue and… more

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   0 comments  ·  Reconciliation  ·  delete…  ·  Admin →
   Feedback  ·  AdminRidhwaan Uddin (Admin, Xero) responded

   Hi there! Thanks for sharing this idea with the community.

   
   

   I’ve classified this post as Feedback. While I can see how a 'sync' feature would save you time in your current setup, Xero is architected so that each subscription acts as a separate legal entity. Because of this, bank feeds and reconciliation are kept strictly independent to ensure your audit trails remain secure and accurate for tax purposes.

   
   

   However, the good news is that Xero has a feature designed to solve this exact problem—allowing you to manage both business arms in one profile so you only have to reconcile once!

   
   

   The Recommended Solution: Tracking Categories Instead of two profiles, you can run both the 'Workshop' and 'Retail' arms under one Xero subscription. You then use Tracking Categories to tag every transaction. This allows you to:

   
   

   • Reconcile once: The bank feed flows into one place, and you just tag the line as 'Workshop' or 'Retail'.
   • Comparative Reporting: Run a Profit & Loss report with two side-by-side columns to see exactly how each arm is performing.

   
   

   How to merge your current profiles: Since you already have data in two places, here is how you can bring them together:

   
   

   1. Export from Retail: Export your Invoices and Contacts from your Retail profile.
   2. Import to Workshop: Import those files into your Workshop profile.
   3. Transfer the Bank Feed: You can transfer your bank feed from the Retail profile to the Workshop profile so it’s all in one place.
   4. Set up Tracking: Create a Tracking Category called 'Business Arm' with 'Workshop' and 'Retail' as options. You can even use the Find & Recode tool to bulk-tag your old transactions!

   
   

   This setup will cut your admin time in half and possibly save you the cost of that second subscription!

   Hi there! Thanks for sharing this idea with the community.

   
   

   I’ve classified this post as Feedback. While I can see how a 'sync' feature would save you time in your current setup, Xero is architected so that each subscription acts as a separate legal entity. Because of this, bank feeds and reconciliation are kept strictly independent to ensure your audit trails remain secure and accurate for tax purposes.

   
   

   However, the good news is that Xero has a feature designed to solve this exact problem—allowing you to manage both business arms in one profile so you only have to reconcile once!

   
   

   The Recommended Solution: Tracking Categories Instead of two profiles, you can run both the 'Workshop' and 'Retail' arms under one Xero subscription. You then use Tracking Categories to tag every transaction. This allows you to:

   
   

   • Reconcile once: The bank feed flows into one place, and you just tag the… more