Reconcile your petty cash account
To reconcile the petty cash account, use the Mark as Reconciled option in Xero. You'll need to turn on the Enable Mark as Reconciled option first, from the Account transactions tab.
About Mark as Reconciled
- When you mark an account transaction as reconciled, Xero creates a new bank statement line to reconcile the transaction against.
- The new bank statement line displays in the Bank Statement tab of the bank account, and has User in the Source column.
- You can enable or disable Mark as Reconciled in the Account Transactions tab of any bank account. This turns the feature on or off for all bank accounts for your login only. Each user in the organisation needs to enable this for their own login.
- If the actual bank statement lines are imported by a feed or manually and Mark as Reconciled is used, duplicate bank statement lines will be created.
Enable Mark as Reconciled
Before you can manually mark a transaction as reconciled, you need to enable the Mark as Reconciled option.
- In the Accounts menu, select Bank Accounts.
- Click any bank account name.
Click the question mark icon , then select Enable Mark as Reconciled. (If you see Disable Mark as Reconciled, you've already turned this feature on).
Reconcile the account transaction
When Mark as Reconciled has been enabled, you can reconcile the account transaction from the Account Transactions tab of the bank account.
- On the Account Transactions tab, select the checkbox for the account transaction you want to reconcile.
Click More, then select Mark as Reconciled.