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Xero Tip Of The Month November 2016 - Bank Rules In Xero

Significantly increase efficiency in your bank reconciliations with Xero Bank Rules!

Bank rules are a fantastic tool to use in Xero, which can significantly speed up the bank reconciliation process allowing you to focus your time and efforts to other aspects of your business.



Rules are ideal in cases where the transactions are relatively consistent in Xero, like a standing order or direct debit. However they cannot be used where you need to match up an invoice, or on bank transfers between the business’ bank accounts. Invoices will appear as suggested matches in green in the standard bank reconciliation screen.

Rules can be created for both income and expenditure transactions, be it a monthly rental payment or a PDQ bank receipt. Each rule will have set parameters, and when one or all of these are met depending on the rule, it will trigger and become a suggested item in the bank reconciliation screen. The rules will contain a default description narrative, default account and tax rate.

These suggested rules will also appear in the cash coding screen, potentially allowing for hundreds of statement lines to be reconciled within minutes!











Bank Rules In Xero





To find out more about Xero Bank Rules and how you can utilise them in your business, click here to access the Xero Help Centre.

See all the Xero features that can help you run your business beautifully at Xero.com/features




Previous Tips

October 2016 – Smart Lists In Xero

September 2016 – Files in Xero

August 2016 – Direct Bank Feeds In Xero

July 2016 – Managing Bills and Purchases in Xero

June 2016 – Shortcuts In Xero

May 2016 – Email Integration

April 2016 – Recurring Sales Invoices

March 2016 – Two Step Authentication

February 2016 – Xero Search

January 2016 – File Storage in Xero

December 2015 – Invoice Reminders

November 2015 – Xero on the go, with Xero Touch

October 2015 – Invoice Payment Terms

September 2015 – Sales Invoice Customisation

August 2015 – Business Performance Review

July 2015 – Cash Coding In Xero

June 2015 – Xero to Xero Billing

May 2015 – Find and Recode

April 2015 – Online Invoicing