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  1. Reconciliation - Ability to reconcile clearing, control, and non-bank accounts in Xero

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    62 comments  ·  For small businesses » Accounting features  ·  Admin →
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    submitted  ·  AdminDana A (Admin, Xero) 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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    Heather Smith commented  · 

    Hi Alex,

    I've got clients paying thousands to get this core functionality sorted, so very much a needed solution. Can I encourage you to post your comment in the Mastermind group where we love apps and data and data accuracy ! https://www.facebook.com/groups/XeroMasterMind

    Heather Smith

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    Heather Smith commented  · 

    Hello, I wanted to drop a short update here. My name is Heather Smith (I’m a partner and facilitator of the Xero Mastermind group). At London Xerocon, I met with Xeros’ Chief Product Officer Anna Curzon and I spoke with her about this core functionality request that assists us in ensuring the accuracy of data in the accounts.

    She recorded me talking about the importance of this product feature request, and how people are manually doing it now. This was passed to the product team, who met with me Sep 15 ( the day after Dana from Xero posted her response).

    I had a long conversation with the Xero product team about the importance of being able to mark off all transactions, particularly in clearing accounts. They asked me lots of questions, and I feel I left the meeting with them understanding the importance of the issue.

    Hopefully we are further along on our journey and more members of the product team understand this issue.

    I encourage you to get other people to vote here, and when you speak with an account manager, explain the issue to them (you’ll quickly find out what their level of accounting knowledge is!!)

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    Heather Smith commented  · 

    You make some very valid points Luke.

    "I've never understood why this wasn't there in Xero from day one!" I think it "the dream of automatic coding" was the reason it was left out.

    Thank you for your vote and comment.

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    Heather Smith commented  · 

    Thanks Kate - that is a great idea!

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    Heather Smith commented  · 

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    Heather Smith commented  · 

    Hi Dana thanks for your message - happy for you to add it to the existing one - but I have included a lot of detail here - to try and help influencers understand the importance of it. I hope the detail does not get lost.

    Heather Smith supported this idea  · 
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    Heather Smith commented  · 

    There are various ways to phrase what is required. I could say 'we need the ability to reconcile all accounts' which is a bit easier to understand, but we typically would reconcile against a bank statement, and many accounts will not have a bank statement - so I am using the phrase 'mark off'.

    This is particularly necessary for any sort of clearing account (or bucket account) which by its very nature should be balanced back to zero on a regular basis, however within Xero this is not possible. There is a clunky and time consuming work around that it is done in a spreadsheet, and stored in files, and downloaded updated and uploaded regularly.

    The ability to check off all accounts to the balance sheet is core functionality found in all of the similar level competitor solutions. Without this functionality, we are not assured of accurate data. Over the last decade I've regularly come across client files that have a long standing hairball mess sitting in their clearing account - which indicates all of their data in unreliable.

    Further to this - I'd like to add with the growing number of Xero files connected to Apps - a clearing account is frequently created - this is another account that it is essential to check off the entries to ensure they match off and the data is flowing accurately. They are very easy to be ignored, and the result is inaccurate data.

    Data accuracy is essential for advisory work and tax compliance and so many other areas that people rely Xero for. Please Please Please enable some functionality to allow us to mark off accounts in Xero, so we have confidence our data is beautiful and accurate.