Settings and activity
4 results found
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287 votes
Hi everyone, we'd like to provide an update as we’ve recently launched the new Manual Journals experience, in which this idea has now been addressed.
From the Manual Journals list, you can toggle the “Show manual journals on a cash basis” setting on or off. This sets the default for all journals you create in that org, and it can also be changed within individual journals.
Updated 24 Sep - This is currently available in US, AU and NZ only, but we’re planning to roll it out to other regions soon. I’ll keep this thread updated as it lands in more places.
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Jason Goodridge
supported this idea
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775 votes
Thanks to everyone that’s shared interest in being able to write-off invoices or bills as a bad debt. We understand how a direct feature would enhance your use of Xero and flows when trading.
As shared in our last update, while not a one-click solution we appreciate the needs expressed for being able to record bad debts right now, and have a Xero Central article that provides a way of currently accommodating this in Xero today.
There are also other options that have been shared by members in this conversation that some may want to explore.
We want to be open that specific bad debts functionality isn’t planned for invoices or bills at this time, but we understand the needs here and it’ll continue to remain high on our team’s radar when reviewing and prioritising their roadmap.
With differing product teams and needs for this functionality within invoices and bills…
An error occurred while saving the comment Jason Goodridge
commented
Ways I've written off bad debts:
1. Create an expense account called "Bad Debts Written Off" and mark it as being able to receive payments. "Pay" the invoice to the bad debt expense account; or
2. Void the invoice (with or without a note); or
3. Add an item into the invoice which links to the bad debt account (from #1) and add a negative amount to zero the invoice out.
Options 1 and 3 are more "obvious" as you see the words "bad debt" in there somewhere. They have different timing though, as 3 will have the expense timed with the invoice (which may be after BAS is filed, requiring an adjustment later/EOFY) but option 1 can be timed when you actually write off the invoice.
Option 1 is my "go to" solution here as it reflects the timing properly and is easily identifyable as a cost on the P/L.
I do agree that a more consistent way of doing this and knowing what the impacts will be would be useful. -
1,295 votes
Hi everyone, thank you for continuing to share how important it is to clearly identify bills that need attention before they’re paid. We understand the impact this has on teams managing bills and avoiding payments being made before a query is resolved.
While a user control flagging mechanism is not directly in the pipeline yet, we want you to know that your feedback and the volume of support here is getting to the right places.
Our product teams are continuing to consider this wider workflow (not just adding a standalone flag) as they plan and shape our direction for bills.
We’re working towards making it easier to manage payments out of your business, with clearer ways to understand which bills need action as part of a more connected bills and payments experience.
The new bills approval flow which we’re currently developing is an example of this - once available admins…
Jason Goodridge
supported this idea
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339 votes
Thanks so much for your continued interest and feedback about how valuable adding a contact to a manual journal would be for you, your business, and clients.
We wanted to share that we’re making good headway in this space. For customers in the US, we’ve now released our new manual journals experience, which lays important foundations for us to build on capabilities like adding contacts to manual journals.
While this specific functionality isn’t available just yet, it's still on the roadmap and is actively being worked through by our product team. We’ll continue to share updates as progress is made.
Jason Goodridge
supported this idea
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I would suggest only a small fraction of journals would need to be on a cash basis, why does it default to being cash? Whenever I find errors in reporting it's because someone has forgotten to uncheck this and we have to go searching through journals and untick the option - very frustrating! Xero - please fix this!!