Reconcile via the API
Be able to reconcile bank statement lines via the API.
- Update April 2016 -
Unfortunately reconciliation via the API is not a planned feature for the short-medium term.
Xero is planning some exciting things around bank rec automation in 2016 which will hopefully alleviate a lot of the need to reconcile via the API. We’ll also be looking at satisfying the use cases that can’t be solved by automation.
It is a huge piece of work so we don’t have any dates to share yet. We’ll keep this page up to date whenever we have new info.
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://developer.xero.com/documentation/api-guides/handling-payment-processor-receipts-in-xero/
I'll chime in with my specific use case, just in case it's helpful to Xero in the future. When my customer pays me via Stripe, I listen for the Stripe Webhook and fire off a Receive-type BankTransaction to Xero. I mark it as reconciled when I create it because I run a cron job every hour that compares the balance of the Stripe bank account in Xero against the balance of Stripe in Stripe itself. Therefore, I'm practicing continuous reconciliation rather than reconciling periodically. Unfortunately, sometimes when my customers pay me by ACH through Stripe, their payment bounces do to insufficient funds. In those cases, I'd like to delete that BankTransactionID in Stripe to keep the balances reconciled.
Must have ASAP. Clients want this.
Richard Howard commented
Seriously needs to be a feature. Automating the reconciliation process cuts hours of work each week (if not more) if this task is automated (we are copy-pasting what the API could do for us!).
What can you do with the Xero API in terms of reconciling bank lines?
From an accountants perspective, is it possible build a web app that would display the unreconciled lines?
Mark Stephenson commented
For us to continue using xero as we continue to grow (1000 users to 12000 in a year) we need to be able to automatically reconcile stripe payments. Allowing reconciliation through the API will give us the ability to automate this very laborious task.
Gareth Lawrence commented
A must have
Please either improve the memory function to remember payeee name from bank lines or allow reconciliation via the API
Alex Rich commented
We are considering changing from Xero to something else. Pushing 'Reconcile' for all incoming payments is a big waste of time when our payment system could automatically reconcile them as they are applied to customer accounts.
I can't imagine what the 'significant issues' that prevent Xero from working on it are.
Some people (like us) use Xero only for our tax obligations and 'big picture' reports. It's easy for the Accountants to collaborate with us, but not everyone uses Xero Invoicing and links their customer accounts to Xero.
We receive an average of 20 transactions a day into Xero through Stripe, in 2 different currencies, and reconciling them is a really time-consuming process and one that seems perfect for automation considering how repetitive it is!
Allowing this feature would allow us to save lots of time and money spent on bookkeeping.
Please guys can you add this feature. We want to have different staff members reconciling payments but as xero is setup our staff will be able to see the full state of accounts which is not acceptable.
We want to be able to isolate an account and allow access to specific users on our internal software to reconsile incoming payments to open invoice's
This feature is a must for our growing business. Either this or some upgraded user types in xero that would allow us to give access to reconcile one account without been able to see everything else..
Johnny Oshika commented
A lot of our reconciliations are repetitive, and being able to do this automatically through the API would be a huge time saver.
Colin MacLeod commented
+1 vote from me
We are using the API extensively to integrate with our POS system and this would make life easier.
I need this because I have a lot multi-currency transactions that I need to reconcile - the currency value from my bank statement doesn't always match the receipt so I was hoping to do this programmatically with an algorithm that makes smart assumptions about the most likely transaction -> receipt reconciliation.
Add votes from me. We pay bills for our clients and it would be great to reconcile them once the checks actually hit the bank account.
Another couple of votes from me. We run some software to import Stripe transactions on behalf of clients and it would be great to then automatically reconcile them
Kim Richardson commented
We process direct deposits through an external payment source, we set a merchant reference and the bank posts the reference number. Would be great to be able to auto reconcile this via an API that can match up the payment.
Jacob Gur commented
The problem with the suggested solution is that you still can't match the specific invoices with the deposit. The clearing account is basically treated as a pool of money.
This feature is VERY important to our business. We receive lump deposits which are related to several clearing accounts. It is impossible for us to manually break down every deposit and determine the proportion associated with each clearing account. An API would be the only solution. I believe this would make Xero a very powerful tool.
Adam Law commented
This is very important to me even as a sole operator