Xero Bank Accounts - How to Reconcile Foreign Currency (FX) Transfers and Exchanges in Xero

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Күн бұрын

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Find out how to reconcile foreign currency (FX) transfers and exchanges in your Xero bank account feeds for PayPal, Wise and others.
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Пікірлер: 11

@mark-and-trina 2 жыл бұрын

@zinmarlwin6312 2 ай бұрын

Thank you for the incredibly useful video. I'm having a hard time linking my multi-currency Wise bank accounts to Xero. 😞

@LucidPlanetBand Жыл бұрын

Is there any way to set up a rule to do this. We get multiple of these a day and it's so time consuming doing it manually. I know it's not your software so you don't have anything to answer for. I just can't believe this is the only way to go about this. It's multiple minutes per day to sort this out. And if you let them accumulate over a few months you are left with a whole days worth of reconciliation. And we are just a small business / band. I can't imagine what it would be like if we were getting a lot more sales

@mark-and-trina Жыл бұрын

It's not easy for FX transactions because they are different amounts. You need to find another way for the bank rule to match the two sides of the transaction. Some sort of reference number could help.

@amethystraccoon Жыл бұрын

For anyone else looking for it, I believe this is the video referred to at 0:13, How to add multiple currencies to your Xero file: kzbin.info/www/bejne/npbbamWjrsetbNU

@OxanaRazbitnova Жыл бұрын

How to revaluate liability in foreign currency (not customers or suppliers but say bank loan)? We get bank loan and repaid it later. Ex.rate was different on both dates. So foreign currency balance is zero but home currency balance is not. Normally in other accounting software I was able to revaluate all balance sheet accounts which would give zero balance in BS in both currencies (home and foreign) . I cannot find such facility in Xero. Does it ever exist? if not, how to sort the issue? Thank you in advance

@gleennavarro8842 Жыл бұрын

Hi Sir Good day! How to reconcile if the money was transferred from a Dubai bank (USD account) to UK bank (USD account)? Example the money transferred was 90,000 but the money received was only 89,980.25. Many thanks!

@kavidhana5765 2 жыл бұрын

Don’t you think this is a bit convoluted? Why doesn’t Xero let you select from a list of entries on other bank accounts that are unreconciled. When you select it then it automatically does the reconciliation on both sides.

@mark-and-trina 2 жыл бұрын

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