How to Reconcile Accounts Using Xero Bank Feeds

[@AcuityEcommerce]

Thanks for watching! Do you use Xero? Do you have any questions I might be able to help with?

[@Somatopia]

Xero lists a number of banks as official "banking partners" here: www.xero.com/us/partner-programs/banking-partners/ Is there any benefit to using a bank that is an official "banking partner" of Xero -- or do most banks interface just fine enough (even if they are not *official* banking partners with Xero)? [I'm trying to decide whether to choose one of the official banking partners or not.]

[@declaringhiswordvideos2840]

I do, Xero and A2X! So grateful for your wise guidance, they are the perfect fit. Thank you!

[@khawajadanishaltaf1847]

You are hitting the nails!! Thank You so much for sharing!! Liked & Subscribed.

[@AcuityEcommerce]

Thanks for subbing!

[@tagliollc3081]

Again great information, thanks Patti!

[@AcuityEcommerce]

Glad you liked it!

[@D1Poet]

I'm a new amazon seller who will be launching my first product in the next few weeks. When is the best time to jump into xero and a2x. Keeping in mind starting out keeping launch costs as low as possible is always a priority. What would you suggest is a good time to jump in?

[@AcuityEcommerce]

Sorry... I missed this somehow. I think this is one of those gut check things. I would say you should start as soon as is reasonable. If you don't have any sales, umm... keep your accounting on spreadsheets. :) If you make $100/mo, don't spend it all on accounting tools. But don't wait until it's an out-of-control mess either. Pure judgement call.

[@jonbartlett6991]

Hi Patty, I am trying to reconcile PayPal entries in Xero with no luck. They come in on the bank feeds and highlight green and I press ok but on my PayPal log it says there are 107 unreconciled entries. How do I reconcile these please. They have an amount coming in and then duplicated going out. Many thanks in advance.

[@AcuityEcommerce]

You probably don't have funds in your PayPal account, so PayPal is pulling money from your bank account or credit card account to fund it and then sending money out from there. If this is the case, the money coming in would be a transfer from whichever account PayPal has on file, and the money out would be to whomever you're paying. There are other possible scenarios, but I don't know without looking at it. If you're still confused, I recommend you reach out to your accountant.