Settings and activity
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30 votes
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Julian Versloot
supported this idea
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25 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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42 votesJulian Versloot
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241 votes
Hi everyone, we've been tracking this idea for some years now and truly value all the feedback we've heard on the desire and time saving reducing the manual steps in reconciliation
would achieve. We completely get wanting to skip that extra ‘OK’ click when you trust the suggested matches.
We’re excited to share that this idea is now in development. At Xerocon this year we shared automated bank reconciliation - Using JAX to automatically match and categorise your bank transactions with your Xero transactions.😊
It's in beta already and being tested by a small group of users atm, and as soon as we have more to share on this rolling out wider I'll give you another update here. Thanks again for helping us shape the future of Xero!
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