Settings and activity
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12 votes
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Julian Versloot
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19 votesJulian Versloot
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An error occurred while saving the comment Julian Versloot
commented
Back in the 1990's I used a server based ledger system in Australia - Solution 6 (the original - not the renamed MYOB product).
It had the ability to link ledgers together so when I posted a journal for example (my imaginary XYZ Trading entity):
Debit - Accounting Fees
Credit - Loan ABC InvestmentsSolution 6 would then automatically open up the ledger of ABC Investments and post the following entry automatically:
Debit - Loan XYZ Trading.
I'd then need to allocate the Credit side of the entry to close the pop-up.This ensured that inter-entity loan accounts were always in balance, and it saved lots of time.
That was a fantastic feature of the old Solution 6 product, and it would be great if Blue Xero also had this feature.
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37 votesJulian Versloot
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215 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,…
An error occurred while saving the comment Julian Versloot
commented
In today's era of electronic banking and connected bankfeeds, it seems pointless to have to do a bank reconciliation. The transaction gets fed into the Xero ledger therefore the bank balance should always match what the bank statement says. I know that I have to allocate each transaction using rules or manually, so really they're just "Unmatched Transactions". To have to "Mark as Reconciled" or perform a Bank Reconciliation process seems redundant to me. The notion of Uncredited Deposits or Unpresented Cheques is surely outdated, as this was only to work out what my actual bank balance was at any given point in time (ie when datafeeds were impossible). Could the reconciliation process be done away with?
Julian Versloot
supported this idea
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It's ridiculous that I have to set my favourites on an entity-by-entity basis. It would be much better if I could set a template for myself, where I could set all of my favourite reports which would then appear no matter which entity's ledger I'm in