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250 votes
Hi everyone, thanks for sharing your feedback on prepayment and accrual schedules. We appreciate you explaining how important this is for your month-end processes and workflow efficiency.
I’d like you to know your idea's been carefully reviewed by our product team. They appreciate and understand the need for tracking revenue and expenditure related to prepayments and accruals, however at this time with other initiatives in the roadmap such as improving the bill creation and payment processes there are currently no plans for this in the pipeline.
We’re keeping a close account of the support in this here, and will continue to review this opportunity within future planning. If there’s any progress made I’ll be sure to share with you all, here.
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Ruvan Fernando
commented
@Mark - I managed to build a basic working prototype for excel. It's an add-on which allows you to manage all your Prepayments and Deferred Revenue schedules and can generate monthly postings for Xero. Way it works is you choose based on filters invoice lines to download from Xero and essentially each Invoice line becomes a schedule. For each schedule you can set the Start, End Date, Spread method, Recognition and Balance Sheet Clearing account etc. Also allows you to make mid-schedule adjustments such as changing the end date or Recognition Account. Quite basic at the moment but keen to hear if this solves any existing pain points you have and if so, happy to further develop this into something that could be used at scale.
Here is the link to the prototype (just need to download the Excel add-in manifest and add it to your excel): https://excel-schedule-web.vercel.app/Also anyone else is also free to try this, but I do request you try this on a Demo company and not a real one for now. Thanks!
An error occurred while saving the comment Ruvan Fernando
commented
@Sam - The reason I suggest an excel tool as opposed to a web app is the flexibility it gives you. Web apps are great if you don't need to adjust anything or have a standard way to adjust the numbers but an excel add-in would allow you to make adjustments in a more flexible way + allow you to do things such as add additional supporting tabs with additional workings for those ad-hoc scenarios which feed into your schedules. You could also build some AI logic into the excel based tool as to do as you say but I would still suggest you have ultimate control over what gets posted to Xero hence you keep that control in excel.
An error occurred while saving the comment Ruvan Fernando
commented
Would anyone be open to the idea of having an excel add-in that can manage your accruals/prepayment schedules/deferred revenue schedules etc that can sync with Xero? Happy to develop something if there is interest for such a utility.
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16 votes
Appreciate you have a few ideas for Projects here. We try to keep 1 idea per thread so others understand what they are voting for and we can clearly share the information back with our Product teams.
I've changed the title of your idea here to reflect your first idea and welcome you to create new ones for the other ideas that you've suggested.
An error occurred while saving the comment Ruvan Fernando
commented
Keen to understand if there is still a need to have more detailed Project Reporting which has features such as transaction drill down any other features such as actuals vs budget, allocation of overheads such as wages etc? I feel there is a gap in Xero as well as other add-ons but want to know what other people do in this space? Is it mainly excel spreadsheets?
@Sam - Have you tried following the instructions per attached?
Essentially you will need to save the manifest file on your local drive somewhere, save that folder location as a trusted folder per excel's trust settings, then add the add-in by going to Insert → My Add-ins → [Folder where you saved the manifest folder] and then add the file.
Once added, you should see the ScheduleXL as an Add-In you can open. From there, you just need to sign in to Xero.
Apologies it's a bit tricky. Since I haven't published to the Microsoft App store, it is a bit of a manual process to do the initial setup.
If you need further help with setting it up, my contact email is at the bottom of the website.
Thanks