Settings and activity
6 results found
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107 votes
Understand wanting an update from us here, everyone. We’ve appreciate your feedback about applying bank rules and how the bank feed description is important to maintain when reconciling.
While this isn’t in our direct pipeline at present this is a feature we'll consider as we evaluate improvements to bank rules in Xero. We’ll keep monitoring your comments here and update this thread with any development. Thank you for your valuable feedback!
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Natalie Katsman
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308 votes
Hi team, we're pleased to share that this work is now underway.
Our intention is to allow you to associate a contact per line in a manual journal.
We appreciate there is a lot of interest in progress for this feature and I'll be back to share as soon as we have more news to update you on, here.
Natalie Katsman
supported this idea
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397 votes
Hi everyone, thanks for all your feedback and highlighting the need for multi-currency manual journals, and being able to see the FX rate directly in the journal.
We understand the needs in this space have close ties with this idea for being able to journal to bank accounts, and this is something we have intentions of doing deeper discovery around in the longer term. However, we want to be upfront that this work isn't roadmapped right now.
Though we appreciate not the straight forward approach that you’re after here - currently you can create the journal via a bill in the relevant foreign currency. Entering positive and negative lines for the debit and credit entries, which results in a 0.00 bill total once approved. The bill lines are converted to your organisation’s base currency using the bill’s FX rate, and the transaction won’t revalue.
As soon as there's movement…
Natalie Katsman
supported this idea
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146 votes
Thanks for the added detail, everyone. It's good to be able to share this detail back with our teams.
Appreciate why Bank Rules won't help for cash accounts and where you don't have a bank feed coming into the account.
Being open, this isn't something we have plans for changing in the short-term. We'll leave the idea open for our product team to continue considering how we could improve efficiency in some of the situations you've described. If there are any updates we'll share this with you all here.
Natalie Katsman
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177 votesNatalie Katsman
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57 votesNatalie Katsman
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Keeping bank memo is very important to make sure rule should still be applied to a particular transaction, transaction didn't fall under a wrong rule, and the rule itself was created correctly. Once applied, you no longer can tell if the application was correct without seeing bank memo.
QuickBooks keeps bank memo. I find seeing it extremely useful when reviewing client bank activity and my team's coding.