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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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  1. The "Suggest Previous" check box appears at the very bottom of the screen. This poor interface feature required me to log a support ticket to find it -- after the feature was dropped from an update.
    The time needed for me to reconcile tripled without this simple feature. More time was necessary by logging a support ticket.
    May I suggest:
    1. software updates maintain the existing settings, and
    2. place the "suggest previous" at the top of the screen where Users have a chance to see it.

    1 vote

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    Hi Joe, the 'Suggest previous entries' option has always been located at the bottom of the Reconcile screen.

    Appreciate why you may want to see this further up the page and we'll get a sense of the interest in this here.

  2. When reconciling transfers between accounts, it would be great if the reconciliation of the transfer in 1 account automatically updates the other so you don't have to reconcile it in 2 places

    8 votes

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     ·  3 comments  ·  Reconciliation  ·  Admin →
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  3. Make the banks (like American Express) see how they need to fix their systems. It's not your fault transactions don't match up. The banks need to improve their data.

    1 vote

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  4. Where the Xero bank account balance and the bank's account balance don't match, but the account has been fully reconciled, Xero displays both balances.

    It would be good if Xero would also show the difference, ie, how much is the difference between Xero and the bank.

    2 votes

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  5. Bank accounts that do not have bank feeds - Spend money should have a reverse function in case a spend money is used when it is supposed to be a receive money.

    10 votes

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  6. When a customer pays, could the find and match box show outstanding invoices for that customer instead of all customer outstanding invoices? It would speed up matching the payment

    1 vote

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    Not an idea I've seen raised yet, Lisa. Can see how this may be helpful when you have many invoices entered in your org. It's not something we have any plans around at present but we'll track the interest here and share if there's news.

  7. When importing bank statements, it would be very useful if we could select (already in the csv perhaps) whether the payment is to be a Direct Payment, or rather a Prepayment.

    We receive almost exclusively prepayments, and I find that when I import the statement, that I cannot select that the income lines should be treated as Prepayment.

    1 vote

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  8. Within the find and recode facility I would like the ability to change the amount posted. This can be particularly useful for repeating journals. For example, there could be a monthly release of a rent prepayment, where a rent review has been backdated several months and therefore the charge released needs adjusting historically. As it stands currently, each individual posting needs editing, rather than (say) being able to change 9 month's postings in one entry.

    1 vote

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    Thanks for the detail in your idea here, Kevin. We don't have any plans to enable the changing of amount in Find & recode in the near term. We'll get a gauge a sense of the demand for this from community in your idea here.

  9. When searching for specific bank transactions(s) using the filter option, when found, it would be good to be able to export your findings directly from your screen. This would prove to be a very efficient way of exporting specific data quickly.

    1 vote

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  10. Sometimes the order of transactions is different in Uncoded Statement Lines Report to the transactions you are coding in Cash Coding. This means you cannot quickly enter codes from the Lines Report but have to carefully check line by line that it's the same transaction. This is extremely annoying, time consuming and occasionally results in incorrectly coded transaction lines. This has been a problem for years! It's terrible.

    3 votes

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  11. Please add Recap Transaction found in MYOB.
    The feature allows you to see which accounts will be affected (debited or credited) by a transaction you're about to enter. Seeing what effect a particular transaction will have on the accounts allows one to know the outcome of transactions with accuracy. This is a powerful feature that can prevent incorrect entry of all kinds of transactions. See attached screenshot from MYOB

    5 votes

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    Appreciate not the exact feature you're looking for here and will be good to get a sense of the interest of this here. In the meantime, I wanted to make sure you can find this information once reconciled. Those with the Standard or Adviser roles can run the Journal report to view recent impacts to accounts and the user that made each change. 

  12. Allow users the ability to import and export bank rules.

    This would save time having to manually create similar bank rules in Xero, and ease with new client organisation setup

    524 votes

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    Hello everyone, we appreciate all the support here and understand how being able to import and export bank rules would help with clean up, and save time in updating or adding bank rules.

    The idea has been closely considered, however we want to be transparent that building this specific feature is not on our roadmap.

    Our current focus within bank reconciliation is on delivering more automation and intelligent tools to help you reconcile faster. This includes improving the core functionality of how Xero suggests and matches transactions, ultimately aiming to reduce the need for manual rule creation and management.

    We're confident that these broader improvements will help streamline your workflow and address some of the underlying pain points you've raised. We appreciate your passion and feedback on this topic, and you can stay up to date with what's coming for bank reconciliation and other features on The Long and Short

  13. In QB you can "create a deposit" and in each line item, you can assign a customer, assign a GL account, class & amount. (there is also a line to assign to an invoice/customer ledger if you use those). You can then print a deposit slip from this as well!
    PLEASE make this function available.
    It is a hassle to enter every check or payment into "Receive Money", then have to go back and try to match up all the correct payments to the bank deposit in the bank reconciliation.
    But if we don't do it like that, we cannot…

    5 votes

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  14. We have to use find and recode each month for adjusting certain batches of transactions. These are the same combination of searches used monthly to find and recode.

    It would be useful to be able to name and save or favourite search criteria for quick recall each month. (Looking back at previous searches is ok, but not obvious which is which until you click into them).

    7 votes

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  15. Can we please have a Parent and Child relationship on the accounts to ease cash allocations. At the moment we are getting 1 payment that covers multiple accounts.

    We work with Schools and get payments from Councils and Academy's. These payments go across multiple schools and payments are currently allocated 1 invoice at a time.

    It would be helpful to have a Parent account / Hierarchy account or to put the Council/Academy name within the individual school account on Xero and put the Parent/Hierarcy name within the "Find & select matching transactions" - "Search by name or reference"

    8 votes

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  16. If you have multiple invoices for the same client, a feature that allows you the option to automatically apply bank transactions receiving money from the client to the oldest invoices first moving closer to date would be mighty helpful. At the current moment, we have to manually split out each transaction to the invoices when reconciling bank transactions; it stands to reason that if you have a client with multiple invoices and they pay off in chunks, you would want to apply payments to their oldest debt first; having this as a selectable option for a contact / bank rule…

    17 votes

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  17. Bank statement search needs to allow the user to filter the search by spent or received as the amounts elements apply to both spent and received.

    Also - please fix the bug with status being ignored by the search.

    43 votes

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  18. Can we add a date filter within the cash coding tab so we are able to only cash code transactions for a particular period?

    10 votes

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  19. Ability to specify an exclusion criteria for Find & recode.

    1 vote

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  20. Bank Reconciliation suggestions. The ability for Xero to identify a name within a customer contact and match it to the name on the bank feed and suggest this as a match. for example John Smith is the contact for ABC pty ltd. when he makes payment he only references John Smith. Xero will recognise John smith is a contact for ABC pty ltd and suggest their invoice in the bank rec.

    15 votes

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