The Misallocated Items bookkeeping data check feature identifies transactions in Xero and QuickBooks Online that have been coded to a broad/vague account, whereas it may be better suited to being coded to a more specific account code. An example is when a purchase of stationery is coded to “General Expenses”, rather than “Office Stationery”.
Transactions checked include:
The value threshold over which transactions show up as an issue on this bookkeeping check feature can be adjusted on the settings page of Xenon Connect (depending on the organisation’s policy regarding materiality).
The purpose of the check is to allow the user to verify that any high-value items have been appropriately coded to a specific and meaningful account code.
By default, the following account codes are monitored (if they exist), as items of a capital nature are often posted here in general (in error):
Additional account codes can also be monitored from the settings page in Xenon Connect.
Details provided for each transaction include:
Changing the transaction’s account
If you decide that the account currently given to the transaction in Xero is inappropriate, you can quickly and easily change it using one of the following methods:
View transaction in Xero/QuickBooks Online
For each misallocated item found, you are able to click the View button after which you will be taken directly to the applicable transaction within your Xero/QBO account. This will allow you, for example, to investigate the item further.
If you decide that a particular transaction already has the correct account code used, then you can click the “Dismiss” button to hide the item and prevent that transaction from appearing in the list again.
Show Dismissed Items
You can quickly include all previously dismissed transactions, by enabling the “Show dismissed items” toggle.
This allows you to recheck and edit any accounts that have previously been dismissed in error.
Bulk Process Options
The following bulk actions can be taken by using the check boxes and Bulk Process Options drop down menu:
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