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Even better banking

Our latest release out this morning has a bunch of banking improvements to make processing your bank-related transactions in Xero even easier.

The most requested feature is the Mark as Reconciled option in Xero’s bank reconciliation. This is helpful for anyone who can’t import their bank statements into Xero – either because your bank doesn’t let you import older (historical) bank transactions or because your bank doesn’t provide statements in the OFX or QIF file formats.

This option is only to be used in the two scenarios above. We recommend you always set up automatic bank feeds if your bank supports these. Learn more about banking in Xero.

Let’s say you have a savings account that only has a few transactions through it each month. Your bank doesn’t support OFX of QIF files but you need to reconcile these transactions so you know what’s in Xero is the same as what’s in your bank account. Enter the transactions into Xero (either spend or receive money or raising an invoice) and once the transaction has been processed through your bank account, reconcile it using the Mark as Reconciled.

Select one or more items using the check boxes and click Mark as Reconciled

The items will appear with a tick mark, showing that they have been marked as reconciled in the list of bank account transactions…

Read more about Mark as Reconciled and other processing improvements in today’s release.

 

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