Yep, it’s Friday. End of the week. A block of chocolate cake next to my desk and a cup of hot tea. I love my husband. (Yep, he’s reading over my shoulder as I type.)
Last week, I spent an hour or so reconciling 8 months of bank account transactions in Xero. I had a couple of false starts figuring out how it works, but only because I was over-complicating things. I guess that one of the smart things about bank feeds is that your bank is bound to reconcile, so long as you don’t stuff up the date ranges that you select when you do your imports.
This week I was pretty delighted to see that my reconciliation is happening automatically. Now I’ve caught up with the backlog of transactions, I just work straight from the Reconcile Accounts window, clicking OK to accept Xero’s suggested allocations and manually selecting accounts for any transactions that haven’t been allocated automatically.
Today when I go to reconcile my bank account, I don’t have to do anything. The screen looks like this:
Automatic transactions and automatic bank reconciliations? Hmmm, methinks that some bookkeepers may get a bit nervous about this change, but the average business owner is going to be pretty happy indeed.