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Get more out of your bank statements with Xero

Posted 3 years ago in Product by Peter Harvey
Posted by Peter Harvey

We’re always trying to make it easier to use Xero, so today we’ve made some important improvements to the Bank Statement page to help you be more efficient and quickly get to the information you need.

Unsurprisingly, this is one of the most heavily used pages in Xero, with hundreds of thousands of views a day.

Xero connects to your bank feeds, automatically importing your banking transactions into Xero. This saves you time and increases accuracy. Once those feeds are in Xero, the Bank Statements screen comes into play.

Just like logging into your online banking, now when you go to the Bank Statements page you’ll see the latest balance and a list of transactions — with a running balance.

bank transactions screen

Searching through your bank statements: Stop hunting, start finding

Whether you’re a small business looking for a record, or an advisor wanting to help a client, it’s now easier than ever to work with bank transactions in Xero.

No longer do you have to trawl through statements. If you’re looking for something in particular, whether that’s a specific amount (e.g. $225.00) or a transaction coded a particular way (e.g. parking), it’s now easier than ever to find what you’re looking for in a more human way.

You can search across the key fields: payee, reference, description/particulars, code, the amount of the transaction, and between any key dates. Results appear quickly, helping you find what you want and giving you the information you need to make decisions.

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And if you still want to see statements, it’s easy. Just toggle back to that view:

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Whether you’re a small business, or an advisor working with one of your clients, it’s always important to understand one’s financial position. These updates help to make it easier to find the information you need to help you make better decisions — for yourself or on behalf of your clients.

Over the next few months we’ll be adding more tools to help find and fix bank balance issues. Please let us know your thoughts in the comments below.

13 comments

Blake Oliver
June 7, 2016 at 6.22 pm

Love this improvement. Will make it much easier to troubleshoot bank balance issues. Curious to know if you have plans to also add a balance column to the account transactions page. That would be helpful for monitoring cash flow as it may include deposits and/or checks in transit.

Peter Harvey
June 8, 2016 at 10.52 am

Hey Blake,
Glad you like the changes!
Good to hear the running balance would be useful on account transactions page. It’s something we may look at in the future.

Naomi Peters in reply to Peter Harvey
June 15, 2016 at 10.46 pm

+1 for a running balance on the account transactions screen that would reflect future-dated transactions as well.

Annette in reply to Peter Harvey
July 7, 2016 at 5.12 pm

Yes, I agree the running balance would be really useful on the account transactions page

Nigel
June 8, 2016 at 12.29 pm

This is a good improvement – thank you.

However the search form UI here is really counter-intuitive – just like the account transactions search form which is similar.

It would be much clearer and more natural for the search boxes to be in line with the columns they refer to. Ranges could be entered in a single box with simple syntax like “>100” or “100 … 500”. Filemaker Pro has had this cracked for two decades and it results in enormous usability which it would be great to add to these pages.

It would also be amazing if searches could take place in real time as-you-type.

Heather Smith
June 8, 2016 at 1.40 pm

Great improvement.

I like that it even picks up deleted lines.

This will save at least 30 minutes on a big fix-up or unravelling a reconciliation.

Please pass my thanks on to the team.

Peter Harvey
June 8, 2016 at 3.56 pm

Thanks Heather & Nigel.
Have passed on your thoughts to the team.

Heather Smith
June 8, 2016 at 5.36 pm

Peter,

It would be useful if I could opt to select “Unreconciled” or “Deleted” or ” Manually Added” as that would help me filter the data.

Heather

Michal Turek
June 8, 2016 at 6.31 pm

Thanks Xero team,
very nice and very useful addition.
Cheers Michal

Dona
June 8, 2016 at 8.59 pm

Discovered this when I logged in yesterday, what a great start to our Monday!
Great improvement to something that is used so often, but has been historically time consuming to isolate where errors have occurred! Thank you

Joseph Tiddy
June 9, 2016 at 2.21 pm

Great stuff, highly useful.

Chris Thomlinson
June 14, 2016 at 12.41 pm

Hey – what an awesome addition – ttanks to all the bright sparks at Xero Team!! Just another improvement to help us help our clients 🙂

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