Add a spend or receive money transaction while reconciling

You can add a spend or receive money transaction while reconciling to record and reconcile a payment that doesn't relate to an invoice, bill, expense claim or bank transfer. Only create a spend or receive money transaction during reconciliation if you haven't already entered it in Xero.

Create quick 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. Click OK to create the transaction and reconcile it.

Create a more detailed spend or receive money transaction and reconcile it

Create a detailed transaction to add extra details to it, for example, to add a reference, select an inventory item, or add multiple lines that make up the transaction.

To create a detailed spend or receive money transaction:

  1. On the bank reconciliation screen, next to the bank statement line you want to reconcile, click the Create tab.
  2. Click Add details.

    The Bank Rec screen and the Add details link.

  3. Enter details of the transaction.
  4. Click Save Transaction.
  5. Click Reconcile.