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Problem importing coded bank statements after setup
Importing coded statements is very useful if you wish to import a few months of bank transactions from after your conversion date. There may also be cases where it's preferable to using rules. As well as entering an account code for each transaction, you have to enter the Tax Rate/Code.
It might seem sensible to use the Tax Code in the Chart of Accounts (CoA) exported as a csv file. We did this since it is then straightforward, using VLOOKUP in Excel, to attach the Tax Codes to the items in the coded bank statement.
However this failed since, for example, the CoA has "VAT on Income (17.5%)". The correct Tax Code to use is "17.5% (VAT on Income)", which appears when you export the CoA as a PDF file. We were not amused!
Perhaps I should have been more careful in checking what is expected. However, it still seems odd that the csv version of the CoA file has the wrong version of the Tax Codes.
In a similar vein, I think it would be useful if there was an option to import a coded bank statement with no Tax Codes. This would apply if all the transactions are to be coded with the default Tax Codes for the accounts.
It might seem sensible to use the Tax Code in the Chart of Accounts (CoA) exported as a csv file. We did this since it is then straightforward, using VLOOKUP in Excel, to attach the Tax Codes to the items in the coded bank statement.
However this failed since, for example, the CoA has "VAT on Income (17.5%)". The correct Tax Code to use is "17.5% (VAT on Income)", which appears when you export the CoA as a PDF file. We were not amused!
Perhaps I should have been more careful in checking what is expected. However, it still seems odd that the csv version of the CoA file has the wrong version of the Tax Codes.
In a similar vein, I think it would be useful if there was an option to import a coded bank statement with no Tax Codes. This would apply if all the transactions are to be coded with the default Tax Codes for the accounts.
Replies to This Discussion
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Permalink Reply by Catherine (Xero) on -
Thanks to the way you've cross-referenced your CSVs you've highlighted an inconsistency on our part - so sorry about this and I'll see about getting this changed.
As for the way we've built the coded statements - you do need both the COA code AND tax rate present on the spreadsheet in order to bypass the reconciliation screen and create the new transactions in Xero automatically. Xero only recognises these as a pair in this auto-create scenario, so if you don't have both you'll need to select all, or select batches of transactions on the Bank Rec Cash Coding screen to fairly quickly apply COA and tax rate codes if you haven't already done this on your CSV.
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Permalink Reply by gsgordon on -
Thanks Catherine,
Importing coded bank statements is so useful that I'll put up with having to include the tax rates!
[As long as I remember to use "No VAT" on expenses, which I'm in the process of re-doing from scratch with the FRS-type Chart of Accounts (no great sweat) - support have now recommended that in connection with my other post.]
Regards, George
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