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This is a critical fundamental function. Stop focusing on stuff that doesn't save us any time or assist with improvement efficiencies and start giving us things that we have been screaming for for years. I take up to 3hrs to reconcile a clearing account in EXCEL every month that I didn't have to do in MYOB. It is bloody ridiculous that we are still needing to export to excel for basic bookkeeping functions. But like most things bookkeepers scream for, it will be ignored for something much more flashy.

Since reconciling is out, how about something simple like a font change or a strike through, that the user can apply, to show that the amount has been reconciled. Doesn’t have to be complex, just something to show that it no longer needs to be resolved

It would be handy to be able to reconcile accounts (eg clearing accounts) and be able to see just the unreconciled items, similar to the way the unreconciled transactions appear for bank accounts.

Yes, Leila Rubner-Petersen,
But Quackbooks is terrible in all other respects, so I would rather stick with not being able to reconcile properly in Xero :)
There are other new accounting apackages which allow this - cheaply!

This is another feature that QuickBooks Online allows which is complete game charger to maintaining control over these accounts and saving bookkeeper time. Complete bananas that Xero doesn't offer this

I can't for the life of me work out why this is not a high priority of XERO Development. It is very basic functionality in all Accounting Software other than XERO. It definitely costs my clients, because I have to do all of this reconciling manually via Excel, which is such a waste of time and means my XERO clients pay more for things like BAS Checks and End of Year Checks, than comparitive sized clients that use other software. Why your company won't recognise this is infuriating and is the sole reason why XERO is not my number 1 referred software, as everything else about it is great.

yes for small organizations that are run by a number of volunteers, it is very important to be able reconcile these clearing accounts on a regular basis without having to export to excel. particularly important if these organizations undertake audits

Hello Xero admins - is this reconciliation feature being looked at yet. The idea and request was submitted in 2012 and here we are in 2024 with still no ability to reconcile clearing accounts within Xero. We appreciate that it is something else to add HOWEVER it is and always has been readily available in one of your major competitors that it surely cant be that difficult to create? ....... it really is the one MAJOR disappointment of this program.

Is there a way to Reconcile multiple Cash transactions instead of having to go into each invoice and Reconcile individually. Really time consuming and unnecessary if not.

Reconciliation of balance sheet accounts, such as payroll liabilities. I reconcile balance sheet accounts on a quarterly basis to make sure liabilities are being paid timely and correct.

To achieve full accuracy in financial reconciliation practices, you can check the following page to track the working source:

https://optimus.tech/product/reconciliation

Hey Xero, i have moved three smallish companies to Xero and i absolutely love the product. I would like to move my holding company but there is one shortfall. Disbursement recons. recovery of payments from clients. platform should be the same as bank recons, allocate a payment to a reference allocate an invoice to a reference and march the transactions to ensure recovery from the client. again just like the bank recons. match match match. any disbursement that does not match a recovery is a query and should be investigated. please help this would really change my Xero world.

Myob has this function...

We are now Xero certified!!

We have a brand new website at https://www.rechound.com which contains pricing, FAQ and a bunch of resources on how you can finally reconcile any balance sheet account in Xero. You can now also sign up for a free 30 day trial :)

Let me know if you have any questions or would like to get in touch!
You can message us on the website or at info@rechound.com

Hi all,

Hopefully we are only a month or so away from release!
If you'd like to become a Beta tester we still have some space - just shoot an email to info@rechound.com and we can get you set up. There's no obligation here at all, pretty much just free RecHound until we go live! :)

For more information we have a new blog post here:
https://www.rechound.com/post/may-update

Cheers!
Alex

Beside the invoice number, reference, cost centre field, allow the admin user to add several customised field can solve many problems. User can add a reconciliation number field and pairing themselves as reconciled

Hallo

I think it will be a great new feature, if you are able to reconcile your loan accounts in all you separate entities on separate Xero’s. A report linking and matching entries in different loan accounts in all your entities.

An update on how our app is tracking for those still after this feature:

https://www.rechound.com/post/feb-update

I watched your You Tube Video and it looks fantastic. Huge thank you for developing this. It is a game changer. I would love to test drive it when you are ready.

Well that was a bit of work!

We now have our proof of concept completed for our application - see the video below for an idea of what we have been developing!

Very eager to hear your thoughts on this. Thanks to you all for your support and feedback thus far :)

https://www.youtube.com/watch?v=P1NRB-csHjg