Xero support have advised that it is not possible to produce a report of all bank transactions and where they have been booked. I need a report which has both sides of the double entry, so every bank transaction together with the account to which the receipt/payment has been reconciled for an accounting period.
Gary - please tell me this is not true, there must be a way to get a report, please would you advise?
Also when you go into bank transactions and a transaction has been reconciled, it says Reconciled next to it but it does not say to which account the transaction has been reconciled. Is there a quick way to check at a glance whether my client is reconciling to the correct accounts?
Thanks
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Hi - Not an expert but I'd use the "Transactions" report, selecting all accounts and then in the Report settings not grouping and making sure the account column is chosen.
This gives you a report of all transactions where bank transactions are easy to ID in Excel.
On the Bank Account> Account Transactions list if the description is "Payment: contact name" the bank transaction will have been allocated against a sales or purchase invoice. If the description is just "contact name" then these will be direct payments or receipts coded to one or more nominal accounts.
Reconciled means the transaction has been matched against an entry on a bank statement for that particular bank account. Though it is possible to manually flagged transactions as reconciled.
If the client is using bank rules the Cash Coding list will show the automatic postings Xero intends to make to unposted bank statement lines.
As suggested, you could use the Account Transactions report. You can apply a filter for Source to the report and get it to show just "spend money" and "receive money" transaction types. There is also the Cash Summary report which shows income and expenditure by nominal account. However, I don't think that report can be filtered by bank account.
Yes it is possible to get both double entry for all transactions.Go to Bank Account then Account Transactions list and click Payment , if you then click account transactions there is then a drop down box, click that and your find it listed under double entry