Enter your idea

Reading this thread was actually what convinced me to build in this space, so first: thank you all for describing the problem so precisely.

I'm building ToTheCent, a matcher for exactly this workflow: upload the remittance (CSV, PDF, Excel, or the email itself), it pairs every line against your open AR invoices, including part-payments, item-level lines like Tom described, and the mangled references plan managers produce, shows the reason for every match, and the totals must prove out to the cent before anything would post.

There are a couple of tools in this space now (Remittance Go posted above, and it looks solid), so here's what I'm offering that's different: I'm validating my matching engine on real-world files before finishing the Xero integration, and I'll do the work for you for free. Email one remittance (please redact names - references and amounts are all I need) plus an export of your open invoices to support@tothecent.app, and I'll send back a report within 48 hours showing exactly what matched, what needs review, and the time it would save. No signup, no obligation - worst case you get a free second opinion on a reconciliation.

Tricia, if you're still doing 1,500 invoices a month by hand, I'd especially love to try one of yours.

Hi All,

We have developed an app that is specifically designed to automate this process in Xero. It is called Remittance Go, and we are listed on the Xero app marketplace.

Would be great if you checked it out: https://apps.xero.com/app/remittance-go

Let me know if you need any help with it or have any questions.

Thanks,
Nathan

This is an excellent idea and will save so much time

Ability to import batch payments received with info from remittance advice.

Can your team consider putting a feature in xero that allows us to get data from a remittance advice and upload so that payments for invoices on the file are applied in bulk. Currently we have to create batch deposits by manually selecting invoices for payment. I have hundreds of small invoices paid each month and payment is made from another Xero account. I want to be able to match these payments off faster. Surely they would be a faster way than the current individual selection.

We receive payments for several invoices at a time from a majority of our customers. Our CRM program recently allows us to bulk apply a payment to several invoices, but they do not sync and we are required to go in to manually enter them into Xero because "Bulk Payments are not currently supported".
Please, please make this happen! This will save us a ton of time in the office.

We receive payment for over 100 invoices from a customer at a time, they provide a csv file as well as a pdf remittance. It would be great to be able to upload this to reconcile payment a lot quicker.

This would massively help our business. All our customer receipts are for multiple documents and I'm really surprised this isn't already a feature for Xero.

Agreed. I am new to Xero and to be honest very surprised this is not a feature.

For more new ideas about banking reconciliation practices, visit this webpage: https://optimus.tech/knowledge-base/bank-reconciliation

Agreed -- Xero does not seem to consider the needs of "larger" users who process transactions in batches of more than 50.....! ~Very disappointing and am looking at alternatives here

We are receiving batch payments from customers for sometimes around 100 invoices at a time, which involves opening their remittance advice document and copying & pasting the invoice numbers across into the matching feature in Xero. Further complicating things when the remittance advice shows payments for each 'item' on an invoice and/or part payments.
Is it possible to have a CSV upload of simply two columns of data: invoice number and payment amount, which would then pre-select the invoices from the CSV?
Provided the totals match, it would then be super simple to reconcile the batch payment.
Thanks

All, we utilize a bank lockbox service. The bank creates a batch deposit that comes into our bank account register as a lump sum.

We receive a PDF report of all of the deposited checks (and check stubs). We wrote a utility that extracts the information from the PDF, uses the information to match payments to customers with outstanding invoices (leveraging the Xero API). The daily lockbox deposits run from 1-200 checks. We usually automatically match about 70%-80% payments to a customer's invoice(s). Probably would be higher, but the information from the bank lockbox report often contains errors on check routing numbers, account numbers, etc.

A deposit of 50 checks usually takes about 10-15 minutes to post.

This same utility could be leveraged to utilize CSV/XLSX data files for batch deposits.

Wondering if anyone would be interested in this an application?

Current features
- Stores information for three bank accounts to one customer
- Allows for overpayments to be posted to a customer's account
- Allows for one check to be posted to multiple accounts - we deal with property managers that have as many as 200 properties, all of which are set up as separate customer accounts in Xero.
- Searching by specific invoice numbers for when the name on the check does not match the Xero customer name.

Thoughts?

If you contact me, please let me know what you would consider a reasonable price for this service in US Dollars.
please contact me at za6kvwr8@duck.com (email address protected)

Definitely needs to be added to Xero. Would save a lot of time.

Would save so much time with this!!

Bank Reconciliation Import

We would like to import a template which includes the column account code so that it goes to the specified code in that column.
When we attempted it, Xero did not read the account code.
We editing the CSV sheet before we import so that it goes to the correct account.
We would like to avoid the step were we manually capture the bank recon on Xero.

Please add this feature, to upload remittance advices as soon as possible. I am currently looking at other accounting systems that can do this, as not being able to do so in Xero is causing us so much wasted time. We generate approx 1500 invoices a month, and they all need to be manually reconciled currently. They are often paid to us in batches of 100 or more invoices. Please add this feature to your development cycle, thanks Tricia - La Bella Life

Absolutely!
It seems odd to not import the payments when importing invoices. Our customers can make several payments using a combination of payment types (eftpos, cash, bank transfer, paypal) and importing those payments from our custom invoicing system into Xero would speed up reconciliation and matching.

Yes, Daniel, this is the way that we are doing it now.
But that requires manual clicking of each invoice up to 100 times for each batch.
Our remittances come in csv format, so I want to be able to upload that remittance file and match it to the invoices that way.

You can enter a batch receipt from the invoices screen.
Check the box next to each invoice that is being paid in this payment and then click "Deposit" at the top. This will let you create a single payment against many invoices and then match against it in the bank rec screen.

There's a limit of 100 invoices but you can split it into multiple batches then match all of them against one bank statement line.