When adding a bank account to Xero, the user is not required to assign an account code to the account. The user can, in the future revisit this decision and assign an account code at a later date. However, the Scott’s Add-in database does not recognize any historical transactions made to the account PRIOR to the adding of an account code. We call these orphaned transactions. This makes pulling accurate balances for these bank type accounts impossible.
No more! We have issued an update to the add-in that marries up the orphaned transactions with the new account code that has been assigned. Now, you can use the add-in to pull in balances for these bank accounts. So to get started on this:
- Make sure you have account codes assigned to all of your bank accounts.
- When building your formula, be sure to use a Start Date that is equal to or older than the first transaction date you have in Xero. This tip is applicable for any Balance Sheet account you are accessing.
Now you can setup some nifty spreadsheets that show your bank balances by day, week, month, you name it!
Create financial art!