sblive Xero Guide

➢ Creating a spend/receive money transaction

You may find that after following the above steps, you are still left with one-off items to reconcile. With these items, you can create a direct spend/receive money transaction.

1. Who – this is the contact's name 2. What – this is the account, from your chart of accounts, you want to code the transaction to 3. (Optional) Enter a description and select tracking details (if applicable) 4. Tax rate – this will need to reflect the VAT treatment of the transaction

Bank rules are a time-saving way to reconcile regular bank statement lines relating to cash payments, that you haven't created transactions in Xero for. Bank rules suggest a new transaction for you, which saves you from having to create a transaction manually.

To create a bank rule, you can do so in one of two ways:-

1. If you know most or all the details of a bank rule, you can create it from scratch. Please do so by selecting Accounts > Bank Accounts and clicking bank rules

Page 67 of 166

Made with FlippingBook - professional solution for displaying marketing and sales documents online