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Reconciliation - Ability to reconcile clearing, control, and non-bank accounts in Xero

Ability to reconcile clearing,control and non-bank accounts in Xero.

Purpose: To save time rather than having to copy and paste into excel to reconcile the balance.

160 votes

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AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
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submitted  ·  Dana A responded  · 

Hello everyone, appreciate all your feedback here. To be upfront, we don’t have any plans to develop the ability to reconcile clearing, control and non-bank accounts in the near future. 

Some of the technology improvements going on across Xero will create more opportunities for us to explore extending some of the more complex functionality from one part of Xero to another. However, we are some way off from this yet. 

That being said, there is the Account transaction report that could be handy in providing a view of both sides of a transaction in Xero. You can include the related account as a column in the report - See more in our help article on this.

Alternatively, if you’re using an external system, you could look into the Xero App store. 

Appreciate there are also lots of ways others are using Xero’s to fit their needs - If you have another way you’re achieving this, welcome to share it here :)

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  • Luke Abbott commented  ·   ·  Report

    Come on Xero, I think you need to rethink as this is a standard accounts package function!

    Unfortunately the suggestion of using the Account transaction report is just as unhelpful as exporting to Excel as it stops the whole flow of accounting as it can only be done at month end after all transactions are uploaded rather than matching items ongoing throughout the month - which is the benefit of a proper control account like in Sage!

    Russ makes some good points as well about those who would benefit but have not voted as they are probably unaware of the possibilities unless they have previously used a competitor system.

  • Russ Willing commented  ·   ·  Report

    Whilst this only has 90 odd votes I suspect it is a problem much wider than noted here. A huge number of small businesses use a POS system and download daily sales journals and bills into Xero. They often have cash clearing accounts which have to be reconciled with banking, eftpos clearing accounts to be reconciled with eftpos takings, direct payments clearing accounts that the y receive on line and gift card clearing accounts. I support many small businesses and I am always amazed that very few reconcile their clearing accounts because they just haven't even considered it (and their accountants just write off any differences I presume). These people are not likely therefore to look for a solution or find their way to this support note.

  • Annie Pearson commented  ·   ·  Report

    Obviously we have lived without it to date so can't say Critical but OMG it would be awesome, amazing - Bring it on

  • Stephen Berry commented  ·   ·  Report

    I would rather not set up clearing accounts as bank accounts to be able to reconcile to zero... In Xero

  • Philipp Roth commented  ·   ·  Report

    It would be way better then having to create dummy bank accounts for managing Medical Practice management systems and payments coming from Health funds and merchants.

  • Charlotte Gaskell commented  ·   ·  Report

    Ability to reconcile non-bank accounts such as Wages payable, disbursements .... For some clients these features are critical.

  • Geoff Bencraft commented  ·   ·  Report

    Needed for reconciliation of deposits and bonds in the accomodation industry.
    Accounts should be able to be nominated as open item.
    Just ask to replicate function in that are used in open item accounts such as debtors

  • Delwyn Shaw commented  ·   ·  Report

    This is a vital feature which has been missing from Xero for far too long

  • Jacinta Hoare commented  ·   ·  Report

    c'mon Xero, its 2022 already and we have been asking for this for over ten years now.

  • Sally Farrant commented  ·   ·  Report

    Can believe I can’t do this in Xero. It’s such a pain and takes so much time every month to reconcile balance sheet accounts

  • Heather Kennedy commented  ·   ·  Report

    This is the main reason I have way more QBO clients than XERO. Without being able to reconcile within the software it's like stepping back to the dark ages (Excel).

  • Megan Murphy commented  ·   ·  Report

    This was the first feature I ever contacted support about, back in 2013. I couldn't believe it wasn't available then, and I really can't believe it's still not available now. The countless hours spent by staff in this office reconciling clearing accounts each week is beyond ridiculous.

  • Kelly Vardy commented  ·   ·  Report

    Each time I have to download an account transaction report to do this I think fondly of how easy it was in QuickBooks.

  • Tanya Spence commented  ·   ·  Report

    Look at the date that this was lodged. 10years and still crickets regarding this feature

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