Add a spend or receive money transaction while reconciling

When reviewing your bank statement lines, record a cash transaction that you haven't already entered in Xero by adding a spend or receive money transaction to match it to.

About spend and receive money transactions

A spend money transaction is the way to record money you've spent that doesn't relate to a bill, expense claim, or refund.

A receive money transaction is the way to record money you've received that doesn't relate to a sales invoice or refund.

Create a spend or receive money transaction and reconcile it

  1. On the bank reconciliation screen, next to the bank statement line you want to reconcile, click the Create tab.
  2. Add or select the following information:
    • Who – this is the contact's name.
    • What – this is the account, from your chart of accounts, you want to code the transaction to.
    • Tax Rate.

    Image of the Create tab on the bank rec screen.

  3. (Optional) Enter a description (Why), and select tracking details.
  4. (Optional) Click Add details to enter extra details such as reference or inventory item, or to split the transaction across two or more lines.

    The Bank Rec screen and the Add details link.

    Payments made or received via credit or charge card should be recorded as at the date of the statement line. This is inline with Inland Revenue requirements on time of supply, as this is when the credit or charge card was tendered as payment.

    Click Save Transaction to save details.

  5. Click OK to create the transaction and reconcile it.