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Banking & chart of accounts

Customer ideas for bank accounts, bank feeds and chart of accounts

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Banking & chart of accounts

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52 results found

  1. I have noticed that automatic numbering of accounts is different that what is general used in Canada. There should be a very clear option when starting a new Xero account to select Canadian numbering and an option to change the numbering to Canadian. For Example, in Canada, Assets start with 1, Liabilities start with 2, Equity start with 3, Revenue start with 4, Cost of Sales start with 5, Expenses start with 6,etc... I have a client who went ahead and started using Xero and it set up the accounts wrong and some accounts you cannot change the numbering to…

    4 votes

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  2. the Profit & Loss Appropriation Account should be mandatory for all companies

    2 votes

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  3. Provide the ability to add Custom Fileds to Chart of Accounts entries. Perhaps 3 each of the following field types... Date, Text, Number (to 2 decimal places), Logical Fields (Tick Boxes).

    3 votes

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    Hi John, to better understand how these custom fields would help - could you explain where you'd expect them to appear or how you might use them?

    For example, would you expect to be able to report on these? It sounds like you'd like them to be visible when entering an item such as posting a journal, or adding a line to an invoice however it'd be good to know how you expect these to differ to the fields that are available in those as well. 

    For example when adding an invoice you can enter an issue and due date, writes a text description and enter a price with 2d.p. 

  4. Is it possible to introduce a spending cap in the Xero based on the agreed/ set budget for each expense line to prevent incurring costs above the agreed/ authorised budget?

    If the functionality is in place, raising a purchase order that will take the cost over the authorise budget should not be possible. Better still, if this functionality can be introduced, can it also be implemented at the tracking category level.

    2 votes

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    Hi Brice, to confirm this isn't something that exists at present. 

    Right now, there's the ability to set a credit Limit at a customer level but not on a supplier side of things. We have an idea for this here, but appreciate what you're asking based on the budget comparative is a little different and I'll leave this idea separate so we can track he interest in each. 

    Welcome to add your support to the other idea if that's something you'd like to see too.  

  5. I would like clients who prepare their own BAS to be able to lock periods - as this is good practice for obvious reasons. Currently if they are a Standard user they are not able to access this area to lock periods. If I make them an Advisor they have access to unlocking prior years and make changes (been there done that - never again).
    Please have the option to give standard users the ability to lock periods (i.e. the first lock period date, but not the second date), or provide a solution to address the above issue.

    1 vote

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  6. This feature was included in the old user interface for Bank Rules, and with the new interface that was rolled out, this feature is no longer available. Instead, I'm forced to go to the COA screen to add a new COA code, then refresh my Bank Rules screen to then be able to choose that account. The time this adds, on top of the already manual process to add bank rules, really adds up. I'd love to see this ability again.

    7 votes

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  7. Chart of Accounts - need a suggested code numbering template to enhance uniformity and save time dreaming up numbers.

    6 votes

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  8. Ability to add custom columns to the Depreciation Schedule report to add more information such as market rates for resale

    8 votes

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  9. The US version of Xero doesn't have a tax rate column in the "Chart of Accounts" tab. In other regions of the world (like Australia & England) their version of Xero has access to see that information.

    It seems like a simple addition, as it has already been done, that could only help out those using Xero in the United States.

    2 votes

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  10. Lock dates should be on main dashboard for Advisors. The setting is buried three layers deep when it needs to be preferable on the main dashboard taskbar. It is very annoying when there you have a client with Advisor privileges who also likes to make backdated changes. Either the lock date option should on main dashboard or allow journals to be outside of the lock.

    5 votes

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  11. Ability to add full livestock trading accounts to Xero.

    Purpose: some of the bookkeeper’s clients can benefit by having a way of tracking livestock within xero.

    43 votes

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  12. 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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     ·  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…

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