Banking - Ability to enter and save a "Verified Statement Balance"
Ability to enter actual statement balance and statement date (i.e. from a PDF), compared to what the bank feed assumes it to be. This way we can verify that a user has actually checked the bank balance and the last date it was verified (and for what value). Xero is far to easy to post historic transactions without a clear reconciliation (due to always having items in "unreconciled" at any point in time.
There could be a link from the Bank reconciliation report, or as mentioned above, a box to enter last statement balance and date, for better oversight all within Xero.
See visual of idea attached, enabling any user (accountant, team or owner) to know the bank has actively reconciled and the bank data in Xero is correct.
Finlay Everington
shared this idea
Hi Mark, appreciate your idea on this! Being able to mark a bank balance as verified would make month-end checks much easier and give you confidence that everything lines up. Right now, reconciling differences can eat up extra time.
At the moment, you can cross-check using the Bank Reconciliation Summary report, but a built-in verification option would streamline this.
This idea is now in Gaining Support so we can see how many of you would find this helpful and share that insight with the product team.
