sblive Xero Guide

Before you start your bank reconciliation, make sure you've entered all your transactions, such as invoices, bills, credit notes and expense claims.

If any payments have been made on these transactions, you can enter them before you start, or during bank reconciliation.

There are currently 3 ways Xero will try and assist you when reconciling the bank.

1. Xero tries to match - Xero automatically matches imported statement lines with account transactions entered in Xero.

2. Xero looks for bank rules set up - If Xero can't make a match, but can match a condition of a bank rule you've set up (see section D), Xero suggests creating a transaction. The suggested transaction contains all the details of the bank rule. 3. Xero makes a suggestion - If there is no match or bank rule to apply, and you have turned on Suggest previous entries, Xero suggests creating a transaction. The suggestion is based on a previously reconciled transaction with similar details. Xero suggests the Who, What, and Why, so the transaction is ready to reconcile.

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