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8 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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158 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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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…
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.