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Banking

Bank Accounts

Focus on what’s outstanding

With Xero, it's quick and easy to do daily bank reconciliations to keep your accounts accurate and up–to–date. Your bank statements can be automatically imported daily by Xero and then matched to transactions you have entered.

  • Automatically import your bank statements daily
  • It’s easy to reconcile your bank statements with your invoices and cashbook
  • You can see interactive graphs and charts, which provide at-a-glance visibility of your cashflow
Xero automates the mundane

Banking within Xero automates those repetitive mundane processes, enabling you to focus on dealing with the exceptions.

Automated matching

Any transactions that have been downloaded from your bank will be automatically matched to transactions entered into Xero.

Automatically import bank statements

Bank statements can be automatically imported into Xero daily, so you don’t waste time exporting and importing bank files manually.

Transfer money

Record a transfer in Xero that you have made between your bank accounts.

Watch an overview of Bank Reconciliation in Xero
Reconcile when you need to

You can reconcile outstanding transactions as often as each day or as little as six monthly, it’s up to you when you reconcile.

Easily identify unreconciled items

View the number of items that have been automatically downloaded from your bank and are awaiting reconciliation.

Reconcile and pay in one go

When you reconcile to an invoice that is not already marked as paid, the invoice will be automatically marked paid for you.

Identify past trends

Interactive graphs show snapshots for the previous six months. Hovering your mouse over a date displays your bank balance on that date.

Supported banks

Automated Feeds Manual Imports
NZ Banks Supported Credit Cards Frequency Time QIF OFX Data from
ANZ Yes Tues – Sat 9:00am Yes Yes 3 months
ASB Yes Daily 6:30am Yes Yes 13 months
BankDirect Yes Daily 6:30am Yes Yes 13 months
BNZ Yes Tues – Sat 7:00am Yes   Jan 2006
Kiwibank Yes Daily 7:00am Yes Yes Oct 2004
National Bank Yes Tues – Sat 11:45am Yes Yes 3 months
Sovereign Yes Daily 6:30am Yes Yes 13 months
TSB Bank Yes Tues – Sat 6:00am Yes   30 months
Westpac       Yes   Jan 1996
Other    
Other banks       Yes Yes  
American Express       Yes    

Xero supports QIF and OFX import formats and therefore can import transactions from almost all banks. In addition Xero has direct data connections to a growing number of banks which automates the importing of bank statements.