How to perform end of month reconciliation

Performing an end of month reconciliation involves comparing the invoice report provided by Xero with the invoice report for Franchise Owners available within Business Management.

To obtain the Xero end of month report

1. Log into your Xero account.
2. From the Reports menu, choose All Reports.

   

3. From the Reports dashboard, choose the Customer Invoice Report.

   

4. Modify the parameters to suit and press the Update button. The report appears on-screen and can be exported.

   

To obtain the Business Management end of month report

1. From the Salesforce menu, select Reports.

   

2. From the Reports page, go to All Folders and select Franchise Owner Reports folder.

   

3. Now select the Invoice Status Report.

   

4. The data for the current month appears. You can export as needed.

   

   Use the filter button to reset the reporting period to suit.

To reconcile the monthly reports

1. Compare the totals of the two reports to check that they match.
2. Examine the detail in the case that there is any discrepancy and make changes to bring the two systems into reconciliation.