Reconcile via the API
Be able to reconcile bank statement lines via the API.
Hi everyone,
Firstly, apologies – it’s obvious from the continuing comments that we declined this request too hastily and without the explanation it deserved.
We know that reconciling would be a valuable API feature, but reconciling requires fine grained access to bank statement data and unfortunately we’re not able to share that data via the API for commercial reasons.
At Xero we’re passionate about having an open API and providing small businesses with open access to their data. Unfortunately, many of the partners we rely on for statement data don’t share the same ideals.
Hopefully change is coming in the form of open banking. However, it will be a long time before we can openly share statement data via the API and provide a decent reconciliation experience to third-party apps. For that reason we will unfortunately leave this request as ‘declined’.
For the immediate future, we’re busy doing some really cool stuff to improve the in-product experience and automating bank rec as much as we can. We already have bank rules, auto-match, suggestions and cash coding but there’s lots more coming this year.
Again, we apologies for our lack of transparency on this thread. We do value the feedback on UserVoice and have shipped features with over 3000 votes in the last 12 months. We definitely dropped the ball on this one though.
Cheers,
Adam
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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?
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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.