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  1. Xero Tax (UK) | Prevent the auto-reversal of negative balances so we can offset debtors and creditors where necessary

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    9 comments  ·  For accountants & bookkeepers » Xero Tax  ·  Admin →
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    under review  ·  AdminHannah G (Admin, Xero) responded

    Appreciate your input here, everyone. Our team is aware of the challenges our partners are facing around the auto-reversal of negative balance. It’s on their roadmap to investigate and provide a better user experience.

    For the time being, I’ll move this idea into ‘Under review’ status. And when there's movement, we'll make sure to come back here and let you all know.

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    Vadakke Zaheer commented  · 

    I am in a similar situation. Accounts Receivable balance is in credit because of large payments on account from customers. At the year end, I wanted to move this to other creditors account as current liability, but unable to do because AR account is locked. As suggested by a Xero expert, I opened a new account and named "AR2" in current assets. Debited Payment on Account to this and credited to other Creditors Account. Net amount is showing correctly as Current Assets on Balance Sheet generated using Micro Entity Accounts from company's reports option. But Balance Sheet generated by Accounts and Tax section of the practice within Xero, shows larger amounts adding both debit and credit balances! I don't think it is wise to send this to HMRC as figures are highly misleading! Urgent action is required from Xero to correct this glitch.

    Vadakke Zaheer supported this idea  ·