Reconciliation templatesAutomate unidentified deposit matching in Xero
Every finance team has deposits nobody recognizes. Modern researches each one using open Xero invoices, remittance emails and payer history, and proposes where it belongs so it does not sit in suspense.
TriggerWeekdays at 11:00
Steps4 steps, from trigger to sign-off
ControlAR lead approves each proposed match
Free to start. No card needed.
Weekdays at 11:00The instruction
“Every weekday at 11:00, list deposits in our Chase account that are more than 2 days old and not reconciled in Xero. For each one, search open invoices, past payments from the same payer and the ar@ inbox for a remittance. Propose the invoice or account it belongs to with your reasoning. Send anything over 7 days old with no lead to the AR lead to contact the payer.”
Works with every major ERP
- +100 more
How it runs
4 steps from trigger to sign-off
- 01
Find unmatched deposits
Lists deposits older than 2 days that are not reconciled in Xero.
Chase - 02
Research the payer
Checks payer names, past payments and remittance emails for clues.
Modern - 03
Search Xero
Looks for open invoices and credit notes that fit the amount, alone or combined.
Xero - 04
Approve the match
The AR lead approves each proposed match before Modern records it in Xero.
Xero
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FAQs
Identify unknown deposits in the bank: FAQs
Can’t find what you’re looking for? Send us a message and a person on the team will answer.
It lists the deposit with everything it checked and suggests who to contact. Nothing is posted to suspense or revenue without your approval.
Yes. Modern proposes paying off the invoice and holding the extra as a credit on the customer account, for you to approve.
Yes. Modern researches deposits and proposes matches in QuickBooks, NetSuite, Sage or Xero.