Reconcile via the API
Be able to reconcile bank statement lines via the API.
Thanks for the feedback everyone.
For some of your scenarios consider using the approach described in our guide for handling payment processor receipts in Xero could be a whole lot more efficient. http://blog.xero.com/developer/handling-payment-processor-receipts-in-xero/
Even if you have a statement line for every invoice payment (rather than a statement line equalling many payments) you could utilise a clearing account to pay off invoices and then use Xero cash/fast coding to code all the bank statement lines of a similar pattern to the clearing account.
Unfortunately I can’t commit to progressing this request further at the moment. We’ll keep listening to your feedback and can add more examples in the guide above if you think that would be helpful.
Evan Williams commented
+1 for us here at Tradevine. We would love to be able to a.) Reconcile large batch PayNow payments against individual invoices and b.) just generally reconcile payments that match up to invoices with matching amounts and purchase references.
it will be great have this feature!
Scott Barber commented
I would be very keen to allow reconciliation through the API. I can see the potential to allow more sophisticated "bank rules" or even to allow automatic bank rules being applied via an "add on" interface through the API.
I think there is potential to make the interface to coding bank statements a lot smarter to allow bank rules to be more robust and push more information through to the final journals. e.g. "Copy description", or to allow more generic rules to be created.
I need to do something similar to what pocketrent does here https://pocketrent.com/features/for-owners-and-property-managers/automatic-rent-reconciliation/ .
Excuse my ignorance but I am not sure how they are able to do this when the normal reconciliation is not available via your api.
Does anyone know what they might be doing to get this done?
We receive money via a direct debit clearing house and currently allocate this payment against hundreds of invoices. We plan to build a system to hand this allocation and reconciliation for us.
Tim Cull commented
My use case is also a SaaS app. We'd have hundreds of transactions each month from a subscription payment provider (like Recurly) that we can create invoices for, but then have to reconcile by hand.
We make a SaaS app and we have hundreds of transactions paid by PayPal every month. It is super easy to generate a Xero invoice (via API) for each transaction, and it is super hard to reconcile all all these invoices with the lines in the PayPal statement. We know exactly how to match statement lines with invoices (we put PayPal transaction IDs as reference on an invoice), yet there is no way to automate it with Xero. All we need is a way to tell Xero to reconcile particular bank account statement line with the given invoice.
We provide SaaS app and we have hundreds of transactions paid by PayPal every month. It is super easy to generate an invoice for each transaction, and it is super hard to reconcile all these invoices with the lines in PayPal statement. We know exactly how to match statement lines with invoice (invoice has the PayPal transaction ID as reference), yet there is no way to automate it with Xero. All we need is (1) a way to to retrieve a list of Bank Account transactions, (2) a way to tell Xero to reconcile bank account transaction with the invoice.
David Collen commented
I import my invoices and bank transactions directly from my Web Store. I'd like to be able to reconcile these automatically against my bank feeds, eg from Paypal using the transaction ID
Please consider implementing this functionality via the API, it really would be useful.
This sort of feature is becoming critical for us. We have a large number of invoices that are paid each day into our bank account via a batch payment. Currently this means manually finding each invoice and matching it with the bank statement. This is a major pain and waste of time and is only going to get worse as our business grows.
Please consider adding API support to allow us to feed in a list of invoice numbers in a batch and match that automatically with the bank statement.
Alok Garg commented
Yes.. We want this feature.. It would be a very good feature.
Please add it as soon as possible.
Being able to reconcile bank statement lines via the API would be really cool. At least for initial stage we can get Invoice ID or Invoice details for which the reconciliation is done through bank statement. It will be great help if we can retrieve Invoice Reference and its payments done through reconciliation via Xero API. Thanks.
Dave Ungerer commented
Here's my use case: I have many clients paying their invoices via electronic fund transfer. The recon for this is already performed in our system (a SaaS app), since we need to be able to supply clients with statements / terminate the service for unpaid accounts.
Is there a better way of doing this?
Scott Ryburn commented
Being able to reconcile bank statement lines via the API would be really cool.
As a starting point though, we'd like to be able to retrieve the invoice/transaction ID for any reconciled bank statement lines.
Here's our use case:
We (Sharesight) provide online portfolio management software to share traders and investors. Typically our customers use a dedicated bank account to trade shares. For customers that use Xero, we'd like to be able to pull the bank statement into Sharesight so that we can include the current cash balance as part of the portfolio value. In addition to this we'd like to be able to do things like:
-Calculate a return on cash from any interest payments. This involves identifying which transactions are interest payments as well as cash withdrawals, deposits etc
-Display statement lines and link these to transaction details in Sharesight (We expect many statement lines to be reconciled to transactions we create/send via the Xero API).
Hopefully that's not too off topic. Thanks.