Settings and activity
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7 votes
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Declan Barry
commented
daily manual journals are absolutely essential for accruing daily fixed deposit interest.
Declan Barry
supported this idea
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152 votes
Hi team, we appreciate your engagement in the idea here however we want to be open that we don't have any plans for developing repeat spend or receive money transactions atm.
If you have the suggest previous entries option turned on in your bank account, you may find that overtime Xero suggests create transactions based on your previous reconciliations.
Alternatively, you could look to create bank rules for these scenarios where Xero will pick up commonalities in your rules to your statement lines and help with reconciliations.
Declan Barry
supported this idea
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351 votes
Hi community, first off thank you for contributing and detailing why posting manual journals in a foreign currency is of interest to you all.
We appreciate our customers would like to see more capability in accounting for and dealing in foreign currencies across Xero.
In it's current form Manual Journals are a part of Xero that require some upgrade to uplift technology in order to provide capability for ideas like this to be considered. We have intentions of bringing attention to this over the coming year, however getting this done first is necessary before we can even think about adding newer functionality like journaling in another currency to the mix.
To set the expectation here, there is no work planned over 2023 for this feature. We know it's of high interest and when we're in a place to reassess we will share with you here.
An error occurred while saving the comment Declan Barry
commented
posting of journal entries in multiple currencies is absolutely essential for any business enterprise
Declan Barry
supported this idea
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We need to use repeat journal entries to account for daily accrued interest on fixed deposit monetary placements. But XERO only provides for weekly and monthly repetitions / recurrences. As such, the only workaround is to enter the daily accrued interest in seven journal entries repeating weekly for each weekday in XERO. It is inefficient and ineffective. We seek XERO to add an option for daily repeating journal entries henceforth in addition to the options for weekly or monthly repeating journal entries hitherto in XERO.