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Banking & chart of accounts: Reconciliation

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Reconciliation - Allow credit notes to show and be selected on the find & match screen

Ability to show and can select credit notes on the find & match screen.

Purpose: To save time rather than having to go in and allocate the credit note against an invoice then going back to the bank reconciliation screen.

819 votes

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AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
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In development  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi community, thanks again for all the support and very honest feedback you’ve shared on this idea over the years.

We appreciate the manual steps to apply credits are time consuming, especially if you’re managing large volumes of these on a regular basis.

We'd like to share that we've now developed functionality that allows Xero to suggest relevant unpaid credit notes as matches when you’re reconciling. We’ll be releasing this feature slowly to all users over the coming weeks.

You’ll also be able to find and select Credit notes using Find & Match - Just make sure you tick "Show Received Items" (for spent statement lines) or "Show Spent Items" (for received statement lines) so the credit note appears in the list.

When you select a Credit note to Reconcile, Xero will create a cash refund against the credit note (rather than allocating the credit to a specific invoice automatically), instead of requiring you to set this up separately first.

Front footing here, we know this solution won’t yet cover all the scenarios customers have asked; for example, overpayments and prepayments, and including credit notes in bill payment batches are still out of scope for this phase - We’ll continue to monitor feedback to help inform where we take this next, so please do continue to share through Xero Product Ideas and the ideas I’ve linked above.

As this becomes available in your business, you’ll see a message within Xero highlighting the new behaviour and where to find credit notes in bank rec.

Once this is available to 100% of customers, we’ll come back to update everyone here and provide more detail to help with understanding exactly how it works, and making the best use of this feature.

Thank you again for your patience, persistence, and for sharing real examples of how this impacts you, they’ve been critical in shaping what we’re delivering here.

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  • Sam Riley commented  ·   ·  Report

    Batch Payment Of Credit Notes
    Essentially do exactly what is done, when making batch payments of Bills, but instead make a batch payment of credit notes.
    There must be a way to do it, as opposed to having to do it via the banking app/website and then manually reconcile each credit note against the bank feed in XERO.
    Thanks

  • Tim Charles commented  ·   ·  Report

    I've just spent ages with a client trying to reconcile a payment based on a supplier statement with multiple invoice bills and credit notes. I'm shocked that this is not standard that you can find credit notes when doing a find & match. Very poor from Xero that this falling has not been resolved many years ago. Xero makes this is a high priority and the development team to fix it quick!!

  • Ashley Walker commented  ·   ·  Report

    I can’t believe Xero doesn’t allow you to pick a credit note when doing the bank reconciliation! This is basic stuff, the work around of refunding a credit note is not the correct accounting treatment.

  • Tania Elkerton commented  ·   ·  Report

    We need the ability to be able to find and match against AP Credit Notes when reconciling payments in the bank reconcile tab. We have a supplier that we pay at a group level for multiple third party suppliers. Like a credit card situation. When one third party supplier has a credit note we cannot select it in the bank reconciliation, therefore making it impossible to fully reconcile the payment to the main supplier.

  • Linda Bates commented  ·   ·  Report

    Ability to include credit notes when posting batch payments, and also to be able to select credit notes when using find & match in bank reconciliation, rather than having to manually allocate them to an invoice

  • Rob Winder commented  ·   ·  Report

    Come on Xero even Sage can do this. This is an absolute basic and will save potentially hours of time allocating credit notes individually. Forget all of your reporting tools and rubbish that wont get used but we have to watch every quarter to maintain accreditation.

  • Tim Hulme commented  ·   ·  Report

    Basic fundamental process within accounts bank reconciliation processes. Xero lacks another fundamental routine. Needs to be programmed as of yetserday.

  • Marie Riley commented  ·   ·  Report

    Agreed Valerie Hague! This is an essential yet basic level feature which I would assume as a given for any accounting software, not a request.

  • Valerie Hague commented  ·   ·  Report

    This is the most fundamental failing in Xero - the whole credit note functionality needs an overhaul. Allow credits to be selected in Bank Reconciliation, allow credits to be selected in Payment runs, allow credits to be listed in Remittance Advices so that you can show the supplier which credits you have deducted. These are all basic level functionality requirements which have been outstanding for many years. PLEASE GET ON WITH IT.

  • Marie Riley commented  ·   ·  Report

    Allocation / Inclusion of Supplier Credits whilst making a Bill Payment to a Supplier where there are netted invoices and credits.
    When making bill payments to a supplier where credits are netted off the payment it is both inconvenient and time consuming to; sum the total of the credits manually, then manually work out the net payment; Partially pay off the net value against some invoices, whilst leaving the remaining invoices unpaid. To then have to separately allocate the remaining credits against the remaining invoices. To be able to do this in one transaction as part of one net payment would be an amazing time saver!

  • Sally Williams commented  ·   ·  Report

    Allow allocation of Credit notes whilst allocating payments in Bank Rec - Both received and spend

  • Laura Murphy commented  ·   ·  Report

    Also to include when creating a batch payment so supplier can see invoices & credit notes that are in there payment on the remittance. A the moment I have to manually create this in excel

  • Tricia Drew commented  ·   ·  Report

    I can't believe this still hasn't happened, I've been asking for 10 years now.

  • Sonia Connon commented  ·   ·  Report

    This feature is urgently needed. Being unable to select credit notes in the bank reconciliation affects workflow. The ability to select credit notes would improve bank reconciliations.

  • Elaine McKilligan commented  ·   ·  Report

    Sage has had this feature for as long as I can remember (many years!!!) - the lack of this feature is one of the most annoying things about Xero!

  • Selorm Klaye commented  ·   ·  Report

    Invoice credit note is in dollars. Funds debited from bank account is in sterling. Have to add a payment to credit note before it appears in bank rec. When trying to add a payment, have to enter exchange rate, rather than GBP amount, which means have to calculate an exchange rate to get back to the GBP amount in bank. Better to just enter GBP straight away.

    Ideal solution for this issue is for credit note to just appear in bank rec so can match irrespective of currency (have added a vote to that idea).

  • Amanda Smith commented  ·   ·  Report

    Honestly have raised this so many times over past ten years, seems such a simple option

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