Xero claims its phone app will help you complete bank reconciliation "over coffee, at the bus stop, or on the train". Just don't do it driving a car, ok.
Bank reconciliation is a necessary chore if you do the bookkeeping, but the fact that the transactions are automatically loaded in some accounting software removes some of the drudgery.
Now Xero has added the feature to its phone apps, claiming the capability gives you the ability to complete the reconciliation "over coffee, at the bus stop, or on the train" so the job is done by the time you get to work.
The bank reconciliation is now part of the Xero Touch apps for iOS and Android.
The way Xero Touch automatically presents possible matching transactions further streamlines the process.
Just don't try doing it while driving to work - it's dangerous, and may result in a fine and demerit points.
For example, in NSW the penalty for improper use of a mobile phone while driving is $298 and three points ($397 and four points if in a school zone), and in Victoria it is $282 and three points.
The apps are used in conjunction with the Xero cloud accounting system, which costs $29 per month for up to five invoices and five bills per month plus a single employee payroll, or $49 per month for "hundreds" of invoices and bank transactions and up to 20 employees on the payroll.
The $64 per month plan adds multi-currency support and allows more than 20 employees on the payroll.
