A new version of the Xero Bank Reconciliation Report is packed with loads of extra features. The report is broken up into sections to show how your bank balance is calculated as of the report date. The report date is the last day of the balance date range.
Your Xero bank balance isn’t derived from your online bank balance; it’s calculated using the data entered into Xero. It represents the sum of all your bank transactions entered in Xero for the bank account dated on the reconciliation report date or earlier.
If your transactions and reconciliation are up to date as of the report date, your balance in Xero and your bank statement balance should be the same on that date.
A reconciled bank statement line-item or account transaction matched to a future dated item will appear in the reconciliation report as unreconciled. The report does not recognize a match if the bank statement line-item or account transaction is dated after the date of the reconciliation report.
You can click on any transaction in the report to view the original transaction in Xero.
As a result of recent changes, you now can:
Add other reports to the Bank Reconciliation Summary
Show and hide columns.
Show or hide imported statement balances.
The Bank Statement report lists a bank account’s statement lines for the pack date range. This report allows you to view a statement line’s details:
- Date – The statement line date
- Date imported into Xero – The date the statement line was imported into Xero
- Reconciled – Whether the statement line is reconciled
- Source – Whether the statement line was manually imported, imported by a bank feed or created by a user marking a transaction as reconciled.
To only include reconciled bank statements lines in the report, under Statement lines to include, select Only reconciled lines.
Easily Select Additional Reports You Choose to Include.
If your online bank account balance does not match the balance showing in Xero, the Statement Exceptions report will show you any anomalies, including:
- Statement lines created by a user marking a transaction as reconciled
- Deleted statement lines
- Duplicate statement lines
Xero continues to enhance the banking features to make it not only easier to accomplish day-to-day routine tasks associated with the daily tasks of keeping your bank balance in check, but also making certain that your bank account is reconciled when your bank statement is ready at the end of the accounting period.
Portions of this feature, including graphical artwork contained herein, have been adapted from Xero source content including information provided by Xero media sources. Adapted source materials by Insightful Accountant are furnished for educational purposes only.
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