Overview
The Bank Balance bookkeeping data check page identifies the number of bank accounts where the Bank Statement balance in Xero does not match the Xero Trial Balance value. Additionally, it allows users to input the bank balance at the period end date as shown on the physical bank statement (to ensure that the bank feed has been pulled in correctly to Xero).
Each bank account in Xero that has a difference in value (as detailed above) will show on this data check page. Bank accounts that do not currently have a difference in value will not show on the page (although you can quickly view all bank accounts using the “Show all bank accounts” toggle.
Clicking on the “Process” button takes you directly to the bank reconciliation page for the applicable bank account in Xero.
The quantity and age of the unreconciled or unexplained bank items directly affects the overall bookkeeping health check indicator.
As items are explained or reconciled in Xero, you will notice that the health indicator % in Xenon Connect improves.
Upload Supporting Documentation
Clicking the “Upload Supporting Documentation” link within each bank account box allows the user to upload files to be attached against the period end currently selected. Obvious examples for this feature is to document the bank statement balance and/or reconcilation working by uploading a bank statement or spreadsheet file.
Process Button
Clicking the “Process” button for a bank account will open the reconcile screen within Xero in a new browser tab.
Add Note Button
Notes can be added against the selected period end for each bank account using the “Add Note” button. Team members can be tagged in the notes.
Ignore Bank Account
Individual bank accounts can be ignored by the check if you do not want them to be considered (for example, if a personal bank account is connected to Xero).
To ignore an individual bank account from the check, you have 2 options:
Reinstating a Bank Account
If you have previously ignored a bank account from this data check in Xenon Connect, you can reinstate it again as follows:
Within Xenon Connect, Go to Settings > Bookkeeping Quality Checks > Bank Balance Check > Exclude the following bank accounts (click the x icon next to the name of the appropriate bank account).
Mark as OK Button
Where there is a legitimate reason that the bank statement balance does not match the trial balance in Xero, then you can click the “Mark as OK” button under each bank account so that the difference in balance is disregarded for the currently selected period end (only). It is recommended that a supporting note is added to the bank account in order to document the reason for the use oif the “Mark as OK” button.
