How to fix bank errors in Xero

[@triciamaitlandtalks5669]

Thank you for this video - it is really helpful. Especially showing how to find the reconciliation report and how to use it.

[@elvieramos3229]

Thank you is helping to clean up the balances.

[@heroicwhisper]

Very well explained. I’ve used some of your suggestions but a couple of them I’ll use in the future. Thanks

[@XUSolutions]

Hopefully you won’t need them too often 😊

[@chunkytoasty]

Great that makes things alot clearer I’m at the beginning of trying to clean up the bank balances. Thanks

[@XUSolutions]

Good luck. I used to have a Xero client called Woodboiler Supplies so I did a double take there.

[@nooksy1114]

Thanks a lot for making this video.

[@XUSolutions]

Glad it was helpful!

[@BottomC]

Very helpful thank you!

[@XUSolutions]

You're welcome!

[@mmbirdtoys4633]

Clearly answers so many questions, thanks very much!

[@XUSolutions]

Happy to help!

[@pobreng_accountant]

Well-explained 👏👏

[@XUSolutions]

Thank you 🙂

[@halayassin5663]

Fantastic explanation

[@XUSolutions]

I hope it helped you :-)

[@paulallison-c6l]

wondered if you could show on a video how you handle a insurance claim. paid invoice then get back insurance money with out the VAT. Cant see how you can use Cr Note as money is send to a supplier and money come back from insurance company less VAT and Excess.

[@Hollie7712]

Love your videos - thankYOU! My bank balance doesn’t equal Xero balance, but this seems to date back to a few years ago. The accounts are locked. Is there anyway that I can change the Xero balance to match the bank balance? It’s driving me nuts.

[@XUSolutions]

You can adjust the balance but you need to know where to code the adjustment. Is the difference a material amount?

[@Hollie7712]

@@XUSolutions Hi, thanks for your reply 😊The amount is £49 and is for computer assessories, but dates back to 2020.

[@XUSolutions]

@@Hollie7712 ok I feel that is not a significant amount so I would create a manual Spend Money transaction, code to Computer Expenses and mark as reconciled. (or it might be Receive Money to balance?)

[@Hollie7712]

@@XUSolutions Thanks so much for your help 😊

[@KarenWiles-gn4ql]

Hi What can you do if the bank feed went to the wrong bank account?

[@XUSolutions]

Delete the bank statements and then li k to the correct one.

[@KarenWiles-gn4ql]

@@XUSolutions Thank you

[@karljohsens393]

Is there a way to reconcile the balance in Xero and bank by journaling manually in Xero? I tried but was unable to. The opening balance was not entered at conversion 2 years ago. The amount is not tiny. Your videos are clearly done and I've learned a lot!

[@XUSolutions]

You can’t enter journals to the bank. Any adjustments need to be done with spend/receive money transactions.

[@ms.1642]

Hi! I have question regarding PayPal. Hope you can help me. Upon checking of my clients PayPal account, I've noticed some PayPal transactions are dated 1 day earlier compared to PayPal bank feeds in Xero. That's the reason why monthly balances per Xero and per PayPal account are not reconciled. What's your suggestion about this? Is that normal? or should we upload manually? My client just connect it last September. Hope you can help me.

[@XUSolutions]

Yes you will often have a one day difference with bank feeds.

[@MrCsipo]

Hi is there any contact email I can contact you for accounting?

[@XUSolutions]

I offer Xero coaching but not accounting. What do you need help with?