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Banking & chart of accounts: Reconciliation

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Bank Rules - Ability to set Date range as a criteria for application

It would be great to have the date of bank transactions as a criteria field when creating a rule. When we are paid by the ESFA, the amounts we receive at the beginning of the month have a different nominal to those received later in the month. In Sage we could set a rule as 'between 2 dates'

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Sarah Pickard shared this idea  ·   ·  Report…  ·  Admin →
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Gaining Support  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi everyone, thank you for clarification of the idea here. Can understand how being able to set the date range or end date of a bank rules application could help with more accurate application and efficiency in reconciling.

As you'll be aware auto bank reconciliation has now also been rolled out to organisations and leverages bank rules as a means to help reconcile your accounts so regular review and update of your rules can further assist in using this tool.

I'd like to be honest here that there are no plans at this point for extending criteria of rules to be able to accommodate this idea, however we'd like to continue to gather interest through this idea and can keep yu in the know if there are any updates.

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  • Kim Peters commented  ·   ·  Report

    It'd be good to have the date as one of the conditions, so when a business ceases trading temporarily but hasn't caught up on reconciliations, we can keep the rule but only up until the ceased trading date.

    So the field in my example would be 'Date (prior to and including)'.

  • Chris Pritchard commented  ·   ·  Report

    I have several bills from Apple for various subscriptions, which are paid through PayPal.

    The invoices indicate the payee (Apple), transaction date, and amount. Many of these amounts are identical, making it challenging to differentiate between the different subscriptions since the invoices only state "Apple."

    Each subscription is charged on a different day of the month. It would be helpful to establish a bank rule that allows the transaction date to be used as a filter, so I can select a specific contact for that rule.

    For example:

    28th of the month - Apple £7.99 (I know that on the 28th it's always for Photoshop)

    25th of the month - Apple £7.99 (I know that on the 25th it's always for cloud storage)

    And this would apply to all transactions on their respective dates.

  • Sarah Pickard commented  ·   ·  Report

    I'd like it to recogise that say, ESFA receipts between 1-5 of the month are posted to one nominal and those recived after should be posted elsewhere.
    i.e. ESFA income around the 1st of the month is always GAG but receipts after the 6th may be other income so would need manual intervention