Unreconciled Bank Transactions
The unreconciled bank account transactions triggers each week day based on the the threshold you have set for each bank account. You can amend the thresholds for each account.
Clients > select client > Bank Account Settings
From this example I have set a very low threshold as I have told Hindsight to inform me each time I have 1 bank transaction unreconciled on each bank account. In reality I would probably not want to know everyday if there was a single transactions unreconciled unless of course I was doing daily bookkeeping for the client.
Why: Reconciling your bank account is the bedrock of good records. If the bank is not reconciled, there is little point starting on any other tasks. It is critical to have your bank account reconciled for completeness of records.
How: We display the number of unreconciled items across your bank accounts in Xero along with the trigger threshold. We also total the value of the unreconciled amounts and the date of the oldest item. Use this information to get your internal team up to date or to notify clients you cannot support them unless they keep their records up to date. As an example you can’t start the accounts, VAT return or management accounts if this is not up to date.
In the column showing the Xero icon this acts as a hotlink back to the underlying bank account in Xero for quick navigation.