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Recurring journal entries

Hi. I've just joined this user group as my company has recently started using Xero for client book-keeping, with the intention of promoting it more widely to clients, primarily to replace Sage and Quickbooks.

I would like to see a facility to create journal entries that are repeating on, say, a monthly basis. This would be useful if, for example, a business is charged quarterly rent but would want it to feed into the P&L monthly. That would be possible by posting the invoice into a prepayment account and then having a monthly journal to move one third of the cost from the prepayement account to the Rent account in the P&L.

Is this facility in hand?

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Permalink Reply by Braden on September 14, 2011 at 21:43

If there are items that are confirmed then better to publish them I would say. Some prospective users may sign up on that basis rather than move on to another product because that key feature they require is missing.

Plus it lets everyone know you have a enhancement pipeline and listen to your users

Release notes are just that ...before that users are in the dark...Coming Up is what people want to see

Me...well without recurring & reversing journals "coming up" I'm struggling to feel the need to do those manually ....hence why I'd like to become a Zero User but haven't yet.

My time line for accounting software evaluation will be up soon, and I will make a decision on what I know. If somethings on the Coming Up list, it might sway me.

Here's a scenario...maybe you people at Xero use Xero for your accounting. If you dont imagine you did but took a yearly subscription from users instead of monthly

I guarantee recurring journals would be in there...ask the guy who does your accounting how he'd get on with all that subscription income using Xero

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Permalink Reply by Catherine (Xero) on September 15, 2011 at 0:24

@Braden - hey I can't get at your profile/email address on this site - keep getting errors. Could you drop an email to support@xero.com because we'd like to email you. Thanks!

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Permalink Reply by gsgordon on September 15, 2011 at 15:39

There's a request that appears to be related to this on the API User Voice at "Repeating Journals would be great" - it was on page 7 with 3 votes, until I added my 2.

Even though this is for the API, it sounds like Catherine is suggesting you should add your vote there.

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Permalink Reply by Maree Maxfield on February 22, 2012 at 18:09

A repeating/reversing journal function is a fairly basic function of an Accounting system. I would imagine that it will be Accountants rather than final users driving this request. Accountants need this to provide meaningful management accounts for their clients in an easy manner.

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Permalink Reply by Catherine (Xero) on March 6, 2012 at 23:30

Indeed this is among some of the many requests fro accountants - we will get to it but until then, the repeating 0 invoice option suggested above seems to suit some Xero accounting partners.