Friday, February 23, 2024

How to reconcile in Xero app?

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Since November 6, 2024, Receipt-AI has been available for One-Click Reconciliation in Xero.

Before November 6, 2024:

This guide will help you reconcile bank transactions (Expenses) in Xero from your phone. 'Expenses' refer to the costs and money spent in the operation of your business. There are two steps:

Step 1. Categorize Transaction

Step 2. Attach Receipt

If you are using Xero website:

Learn more: How to reconcile in Xero website

If you are using Xero mobile app:

Step 1: Categorize Transaction

1. Open your Xero app, click 'Purchases'.

How to reconcile in Xero mobile app: Login to your Xero account, click 'Purchases' from the lower bar menu.

2. Scroll down to 'Recent Spending,' and select any expense transaction.

In the example, we use a parking expense. However, the same steps apply to any expense transaction.

How to reconcile in Xero mobile app: Scroll to the bottom to find the 'Recent Spending' section, then select an expense transaction. In this example, we illustrate the reconciliation process using a parking expense, but the steps remain the same for all expense transactions.

3. Enter a vendor name, and select an account for this expense.

In the example below, we categorize this parking expense under the travel account. Think of an account as a folder - It helps you organize your expenses and track how much you have spent in this category.

Click ‘Attach files’ to continue.

* Receipt-AI includes the business purposes for your receipt when you upload them using SMS and Email. If you don't use Receipt-AI, make sure to include a description(Why) when you are on your computer.

How to reconcile in Xero mobile app: Enter a vendor name and select a category for this expense. Then, click 'Attach files' to continue. We use travel account for this parking expense in the example below.

Step 2: Attach Receipt

4. When the new window appears, Click ‘Choose from Xero Files’ to proceed.

How to reconcile in Xero mobile app: A new window pops up. click on the ‘Choose from Xero Files’ button to continue.

5. Use Receipt-AI to upload receipts to Xero from your physical copies, emails, or your co-workers. All receipts will be automatically renamed by date, vendor name, and total, helping you quickly attach the receipt you need.

Select the receipt and click ‘Add

How to reconcile in Xero mobile app: Upload receipts to Xero with Receipt-AI from paper copies, emails, or your co-workers. It automatically renames them by date, vendor, and total for easy search. Simply find the receipt and click 'Add'.

Well done, you've just learned how to reconcile a bank transaction using the Xero app. It can sometimes be intimidating to see many buttons and fear making mistakes. At Receipt-AI, we believe that everyone should understand the basics of accounting, and we will do our best to explain these concepts in the simplest way.

How to reconcile in Xero mobile app: You did it! You've reconciled a parking expense using the Xero app with a receipt attached.