Change Log

Managing bank reconciliations across multiple entities and currencies can be complex and time-consuming. Challenges such as mismatched intercompany transactions, duplicate payments, and chasing customers for invoices already settled by another entity often arise.

Group Bank Reconciliation simplifies this process by enabling you to match cross-entity payments and invoices directly within Xero’s Bank Reconciliation flow. This automation ensures intercompany balances are accurate and reduces manual effort, saving you time and improving financial accuracy.

• Enhanced match and search functionality: Xero’s match and search functionality now allows you to find invoices in other entities within your group and match them to bank statement lines seamlessly.
• Reconcile and post with ease: Reconcile once, and post all relevant intercompany loan account entries, including marking invoices as paid across entities.
• Prevent duplicate payments: Mark invoices as paid against the loan account immediately from your existing reconciliation workflow, ensuring clarity and avoiding double payments.‍
• Track reconciliations with an audit log: Keep a detailed record of all reconciliations performed using the Group Bank Reconciliation plugin, ensuring full traceability and accountability.