Recording and Reconciling the Bank
As we have said before, the bank feed is the heart of Xero! This is where the daily transactions start. It does not matter what type of business you have or your industry – you will use the bank feed in Xero. In this chapter, we will show you how to record bank transactions and run through the bank account reconciliation process. Performing these steps right gives you the certainty that you are heading in the right direction.
In this chapter, we’re going to cover the following main topics:
- The bank feed basics
- No bank fee? Not a problem – import it
- Rules, rules, rules
- Using Xero to your advantage
- Cash coding
- Reconciling that account
