In your files bank account will be set as either bank, credit card, asset or liability accounts.
As part of our conversion service we give you the opportunity to review and, if necessary, change bank account types during the upload process and prior to conversion.
We recommend that any accounts that require bank feeds or reconciliation should be set up as bank accounts or credit cards and all other accounts be changed to an asset or liability account. This is because you cannot create manual journals to bank accounts in Xero.
The benefit of changing the account types to an asset or liability is that you are still able to make payments to these accounts and also do manual journals.
This option is currently not availble in our Reckon conversions, however it is a feature we will be developing.
Note: To help you make the correct selection during the conversion process please see a list below of Banks that require 'credit cards' to be set up as 'bank accounts' to connect bank feeds.
- ANZ (AU)
- Bank Australia
- BDCU Alliance
- Beyond Bank
- Coastline Credit Union
- ECU Australia Ltd
- Holiday Coast Credit Union
- Northern Ireland Credit Union
- First Option Credit Union
- Greater Building Society (GBS)
- Heritage Bank
- Horizon Credit Union
- Hume Bank
- Intech Credit Union
- Maitland Mutual Building Society
Should you choose a conversion service that does not include the option to modify bank account types you can do so in Xero afterwards.
It is not a simple process so we have written a blog post with more details about this: