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510 votes
Hi community, first off thank you for the continued interest and feedback surrounding this idea. We’re continuing to build on the bank reconciliation experience in Xero and recognise the ways this feature will help improve the efficiency, flexibility and transparency of transactions in your business. Our team have done a lot of exploration into being able to surface and match Credit Notes when reconciling your bank account in Xero, and this is now in development.
We’ll shift the idea here into ‘Working on it’ and continue to update as there’s more detail of this to share.
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Martin Dent
supported this idea
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5 votes
An error occurred while saving the comment Martin Dent
commented
I completely agree with this "idea". It's more than an idea, it is completely logical and obvious. I take payments in via Worldpay and the only reliable check is the "Cart ID" or reference number, and Xero completely ignores this when it suggests Find and Match candidate. Customer names are completely unreliable and often are different to the invoiced party so these are the worst things to Sort on.
An error occurred while saving the comment Martin Dent
commented
I have EXACTLY the same requirement. It is so important to us, that as soon as we find a book keeping solution that features a match against a reference number (in our case our Cart ID), if Xero still is unable to provide, we will have to move
An error occurred while saving the comment Martin Dent
commented
Reconciling online payments is a slow and cumbersome process within XERO and it need not be. Currently the Find and Match algorithm makes suggested Reconciliation Matches based on Amount and Name. This is not 100% and it can suggest a wrong match if there is two customers with same or similar name. For thousands of monthly payments this means hours of checking each payment. However, there is a much better way which is for Find and Match to use a combination of the amount and the unique reference number (which appears on both the payment and the invoice) as the basis for the suggested Match. Then it would save hours of time if Xero could allow a bulk acceptance of such Matches..... Surely this is a simple bit of coding for the Xero team?
Martin Dent
supported this idea
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An error occurred while saving the comment Martin Dent
commented
Reconciling online payments is a slow and cumbersome process within XERO and it need not be. Currently the Find and Match algorithm makes suggested Reconciliation Matches based on Amount and Name. This is not 100% and it can suggest a wrong match if there is two customers with same or similar name. For thousands of monthly payments this means hours of checking each payment. However, there is a much better way which is for Find and Match to use a combination of the amount and the unique reference number (which appears on both the payment and the invoice) as the basis for the suggested Match. Then it would save hours of time if Xero could allow a bulk acceptance of such Matches..... Surely this is a simple bit of coding for the Xero team?
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3 votesMartin Dent
supported this idea
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6 votes
The way suggested matches work atm is based on the amounts of the statement line and transaction being the same and also looking at most of the fields of a statement line and comparing with transactions entered to show a preferred match.
However, if I understand the idea here correctly you're asking for a suggested match to be shown if the invoice number matches but the amounts of the statement line and transaction differ?
Martin Dent
supported this idea
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7 votes
Hey community, thanks for your continued interest and feedback on this idea.
Right now, you can set up bank rules to code future payroll payments, or turn on Suggest previous entries so that Xero suggests a transaction each time.
If there's any future changes we will let you know on the thread here. Thanks
Martin Dent
supported this idea
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8 votesMartin Dent
supported this idea
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38 votesMartin Dent
supported this idea
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198 votes
Thanks for all sharing and supporting how bulk reconciling transactions and suggestions that have been matched to statement lines in your bank would help your business.
It's great to see the trust you've built in Xero's capabilities to match and help you save time from manually finding and creating transactions to reconcile your bank.
Along with building on the foundations of our platforms, the teams efforts at present have been on improving the ability to create suggested transactions for more statement lines in your org - With a lot of this being backend logics there's not a heap you'll see from the front side of things but Xero's reconcile engine is getting stronger and overtime you should find even less need to create transactions in your org, yourself.
With this work underway there is no development for being able to reconcile transactions that have the 'OK' presented option atm,…
Martin Dent
supported this idea
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Kelly, Why when you can see so much support for this change do you report that "at this time, there are no plans for adding Credit Notes to find and match"... This response translates to: "We hear you but we are going to ignore you". Why is Xero ignoring its customers? Are you suggesting that we should spend more time finding an alternative bookkeeping software than giving the detail feedback that we provide here?