3. Reconciling Bank Accounts in Xero

BC PayPal 01:00 Jamie Video

1. Go to Paypal

2. Click on Cash Coding

3. Click show lines with suggested matches

4. Sort by Received

5. Click Show More to show all lines

6. Click select all

7. Unselect transfers out of the account, any refunds or other amounts that aren't related to sales.

8. Click Sav & Reconcile button

9. Any refunds should go under PayPal >Takings (BAS Excluded)

BQ Paypal - reconciling Shopify transactions

First need to reconcile all Paypal payments that aren't related to orders- to do this go through one by one clicking ok. There is no alternative way to do this.

Any refund of Shopify sales should go against sales.

Google & Facebook don't have invoices.

Telstra invoices

Go to https://onlinebilling.telstra.com.au/corporatebill and use [email protected] login

Dear Consolidation Types

Dear-2 are Amazon FBA Transactions

(API)-1 are BigCommerce Transactions

(API)-2 are BigCommerce Transactions (unsure how it differs to (API)-1

POS are transactions put through DEAR POS & Tyro 

Reconciling Dear Invoices

Invoices paid via POS can most likely recorded against deposits made into CBA 4573 account.

For other Invoices API/Dear-2

In Xero go to Invoices 

Those in Draft can be approve

In Awaiting Payment select Dear Sales Consolidation invoices (can select max 50 at a time - select just those in the same month/quarter)

Click Deposit

Select Takings Clearing Account

Add Date as last date of month or quarter

Click Deposit

Process for reconciling accounts in Xero.

1. Login to Xero

2. In the horizontal navigation bar select Accounts > Bank Accounts

3. For each bank account that says: Reconcile X items - click on this

4. For all those entries that match up simply select OK - normally most entries should match up to invoices uploaded via ReceiptBank or pre-saved entries e.g. POS.

5. For any entries that do not match up then these can be left until Richard/Bookkeeper are available

Process complete.