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  1. Bank Reconciliation - Automatic reconciliation of invoices

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    submitted  ·  5 comments  ·  For small businesses » Accounting features  ·  Admin →
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    Zhe Li commented  · 

    Obviously, there have been considerable manual operations involved to upload bank statements, conversion, etc. I cannot help wondering if there are possibilities to further automate Xero's system to receive bank statements from a variety of banks and automagically normalize the format for further automated reconciliation processing? If not, what is holding us back? Regulations? extent of banks involvement? or simply the business mandate the current way is optimum. I am keen to learn more. I would be honored to hear more from you.

    Zhe Li supported this idea  · 
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    Zhe Li commented  · 

    Obviously, there have been considerable manual operations involved to upload bank statements, conversion, etc. I cannot help wondering if there are possibilities to further automate Xero's system to receive bank statements from a variety of banks and automagically normalize the format for further automated reconciliation processing? If not, what is holding us back? Regulations? extent of banks involvement? or simply the business mandate the current way is optimum. I am keen to learn more. I would be honored to hear more from you.