Xero Bank Reconciliation Check
Verify bank and Xero balances match, flag mismatches for review.
Nora syncs bank transaction data into Xero and checks for reconciliation gaps. If the bank balance doesn't match Xero records, it alerts the finance team with a summary of unmatched transactions. Catches errors early and ensures accurate reporting.
Bank reconciliation is tedious manual work that reconcilers dread, yet it's critical for financial accuracy. This automation retrieves recent bank transactions and compares them against Xero's bank account balance. If there's a mismatch, Nora calculates the difference and lists the unmatched transactions (those in Xero but not the bank, or vice versa). It sends a report to your finance team with the discrepancy, flagging transactions outside a normal variance threshold (e.g., > $100 difference). For small discrepancies (e.g., outstanding checks), Nora can auto-match and reconcile if you configure it with rules. For large or suspicious discrepancies, it escalates for manual review. Runs weekly or daily depending on transaction volume. Saves your team 1–2 hours per week and catches fraud/errors faster.
How it works
- Nora retrieves latest bank feed data from Xero
- Pulls current bank account balance from Xero records
- Compares bank transactions to Xero bank ledger
- Flags unmatched or partially matched transactions
- Calculates total discrepancy and variance percentage
- Sends report to finance team with action items
Frequently asked questions
What does "Xero Bank Reconciliation Check" do?
Nora syncs bank transaction data into Xero and checks for reconciliation gaps. If the bank balance doesn't match Xero records, it alerts the finance team with a summary of unmatched transactions. Catches errors early and ensures accurate reporting.
How long does setup take?
Under 5 minutes. Connect your tools and Nora handles the rest.
Which tools does this use?
Uses Xero, run by your Finance Manager.
How much time does this save?
Saves approximately 2 hours/week, running weekly on friday at 5 pm.