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Wednesday, November 06, 2024

How to Reconcile in Xero with One Click

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Great news! We have made it even easier to reconcile your transactions in Xero.

After selecting your bank and expense accounts for receipts, reconciling in Xero becomes simple and can be done with a single click using Receipt-AI.

How to reconcile in Xero using One-Click?

After uploading your receipt using Email, SMS or Receipt-AI Website:

1. On your Xero dashboard, select Reconcile [xx] items.

Introducing One-Click Reconciliation with Xero and Receipt-AI: This image shows a checking account reconciliation screen from Xero. The checking account number is 132435465. It displays two balances:* Balance in Xero: -$5,092.83 (negative balance) * Statement balance (as of October 10): $1,608.77. There is a button labeled Reconcile 29 items, indicating that 29 transactions need to be reconciled. Below this, there is a graphical representation of the account's balance trend over time. The blue section corresponds to dates before October 6, and the red section starts from October 6, signifying a transition or discrepancy in the account balance. The timeline spans from September 22 to October 13, showing small fluctuations in the balance over this period.

2. Review the suggested matches, then click OK to complete the reconciliation.

Introducing One-Click Reconciliation with Xero and Receipt-AI: A screenshot of a transaction detail from Central City Parking, dated June 30, 2024, with a reference number and an amount of 12.00. An arrow points to an 'OK' button on the left, and there are navigation options for matching, creating, transferring, discussing, and finding & matching at the top.

Pro tip: To see more details from the transaction, simply click “Find & Match” in your Xero.

Learn more:

How to setup Chart of Accounts in Receipt-AI

How to upload Receipts using Receipt-AI

How to Reconcile in QuickBooks with One Click?

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expense management

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An accountant is working on reconciling expenses at a computer in a modern office setting, with the text 'Introducing One-Click Reconciliation with Receipt AI' displayed in a black banner. Other people are visible working in the background.
Introducing One-Click Reconciliation
Screenshot of a 'Spend Money' transaction record in Xero. The transaction is for Central City Parking, dated June 30, 2024, with a total amount of $12.00. The details show a unit price of $10.98 and a sales tax of $1.02. The transaction is categorized under the 'Automobile' account. A related file named '2024-06-30_central-city-parking_12.00_.jpeg' is attached, shown in a pop-up with an option to add files. The bank account listed is a checking account at City National Bank.
What does the Transaction look like in Xero with Receipt-AI?
Introducing One-Click Reconciliation with QuickBooks and Receipt-AI: This image shows a checking account reconciliation screen from QuickBooks. The checking account number is 132435465. It displays two balances:* Balance in QuickBooks: -$5,092.83 (negative balance) * Statement balance (as of October 10): $1,608.77. There is a button labeled Reconcile 29 items, indicating that 29 transactions need to be reconciled. Below this, there is a graphical representation of the account's balance trend over time. The blue section corresponds to dates before October 6, and the red section starts from October 6, signifying a transition or discrepancy in the account balance. The timeline spans from September 22 to October 13, showing small fluctuations in the balance over this period.
How to Reconcile in QuickBooks with One Click?
Invoice vs Receipt: Close-up of a thermal printer ejecting a receipt with printed details visible, including a timestamp, itemized charges, net and VAT amounts, and a total sum. The receipt is partially curled as it exits the machine, suggesting a recent transaction. The focus on the receipt and the printer emphasizes the completion of a sale, which is often confused with an invoice that instead requests payment. Receipt-AI works with both receipts and invoices to extract information, rename the files, and upload them to your accounting software, such as Xero or QuickBooks.
Invoice vs Receipt
Graphic showcasing 'Simplified Reconciliation' with Receipt-AI. It describes the process where the receipt file is renamed and uploaded to QuickBooks to facilitate easier reconciliation. The image includes a cloud symbol, indicative of cloud storage or computing, an arrow pointing towards the QuickBooks logo, symbolizing the transfer or upload of data.
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A working professional traveling at a client site smiles as he takes a photo of a receipt with his smartphone. He plans to upload the receipt using SMS and Receipt-AI, which is integrated with Xero or QuickBooks, while sitting in a cozy café environment. Indicating the ease of using the app.
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