Post-conversion – Xero – Bank reconciliation

Tidy bank reconciliations

We try our best to convert the bank reconciled status of transactions but this is not always possible. Xero prevents us from marking some transactions as reconciled eg. overpayments, prepayments and bank transfers  so you will probably need to manually complete this so that the “Statement Balance” in Xero is correct.

Remember, there are potentially two balances shown on the Dashboard for each bank account – the “Balance in Xero” is the Balance Sheet balance from your old system. The “Statement” balance is the total of transactions marked as reconciled in Xero.

To tidy your bank reconciliations click on the three dots menu button then Account Transactions

You now want to make sure that you enable the Mark as reconciled function via the help menu

We also recommend that, if you have a large number of transactions to mark as reconciled, you switch the page view to show 200 items. This will allow you to tick the top checkbox in the left column and mark transactions in blocks of 200 if you wish.

All you need to do now is mark the transactions you want to change to reconciled and click select Mark as Reconciled from the More button.

If your bank balance was fully reconciled in your desktop software, you will want to mark all transactions as reconciled. Then your “Balance in Xero” and “Statement Balance” will be the same.

If your account was not fully reconciled in your desktop software, you will want to leave the unreconciled items as remaining unreconciled. Then your “Statement Balance” will be the same as the statement or cleared balance in your desktop software.