Bank feeds for Xero Personal

You can stop importing those .csv files into Xero Personal – our personal finance product now has bank feeds! Connect Xero Personal to your bank and your online banking transactions automatically come through every morning for you to sort and categorize.

Many of the bank feeds supported by Xero Business are supported immediately, with more coming in the New Year. Over time the number of banks included will only increase.

We’ve also added notes to transactions so you can put any detail you want on your spending. Have a look at how bank feeds, sorting rules (released in July) and notes on transactions work together to give you a complete picture of your finances in this video:

Check this list now to see if your bank is available, or log into your Xero Personal, add an account, and type in your bank’s name to see if it is there.

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Bank Feeds for Xero Personal – progress update

Back in April we advised a delay in getting started on developing automated bank feeds into Xero Personal. This was due to the improvements required to our underlying banking integration platform to manage the continued growth in use of bank feeds with Xero.

This work took several weeks longer than expected but the team are now full steam ahead connecting Xero Personal into the banking platform. However, with this later than anticipated start we won’t make our target of a July/Sept quarter release – it will slip into Oct/Dec. We’ll keep you up-to-date with progress.

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Sorting made easy in Xero Personal

Today’s Xero Personal release makes it quicker and easier for you to see where your money is going so you know you’re on track.

Your sorting rules now truly reflect the way you shop. You’re able to create rules that contain only part of the payee name. So when you shop at different branches of the same store your transactions still get sorted – without having to be an exact match on your statement.

Your transactions will be sorted automatically based on the rules you create, as well as a few suggestions from us of based on what’s commonly used.

Check out the video to see it in action:

Want to start sorting your transactions? Signup for a free trial of Xero Personal.

Update on bank feeds for Xero Personal

The introduction of automated bank feeds is a key and complex piece of work for the Xero Personal team and understandably it’s also high on the customer request list. We’ve made progress with laying the groundwork for the feeds over the last few releases and now it’s time to give you an update.

In May, the next Xero Personal release will introduce new categorisation or sorting logic, including improved user defined sorting rules. This will help get more transactions automatically sorted into spending or income categories. It will also ensure that the sorting function is then compatible with the style and format of transaction data that will come from the Yodlee data gathering service which is what will be used to deliver automated bank feeds into Xero Personal.

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Stay in the loop with income vs expenses

Today’s Xero Personal release lets you choose a timeframe to view your income vs expenses.

You can look at how much you made and spent in the last few days, weeks or months. Or you can make it more relevant by looking at your income vs expenses in your last pay period.

You can then see your spending trends by looking at how your income vs expenses have changed for a given period and compare this year on year.

Watch this video for an overview:

If you want a better view of your income vs expenses in the New Year, try Xero Personal for free.

Stay on track with your goal history

Keeping track of your budget over time is almost as challenging as sticking to it!

Xero Personal’s new goal history shows you what to cut back on if you need to get your budget under control – whether it’s coffee, clothes, or something else entirely.

From now on, when you start a new goal period, your previous results stay on the goal overview page. You’ll soon have a goal history showing how each aspect of your spending has contributed to your overall budget.

Watch this video:

Like what you see? Get started with Xero Personal here.

Join the conversation at Xero Answers.

Have it your way with Spending and Savings

Today’s Xero Personal release gives you the flexibility to look beyond the usual 30, 60 or 90 days and choose whichever period you like to look at your Spending and Savings.

This could mean tracking how you’re doing from payday to payday and then matching this against your goal period to have everything nicely in sync.

Watch this video for an overview:

Have a look at Help Centre for more detail and ask questions or see what others are saying at Xero Answers.

Tracking cash payments – no problem

Electronic banking is so ingrained for many of us that receiving cash or payments which don’t get recorded in our bank account can really mess with the budget.

Some of you feel so strongly about this, that the ability to account for such payments is the no.1 feature request for Xero Personal. So today in this release we’re putting a smile on your face as we introduce Manual Transactions.

One of the most common scenarios that call for Manual Transactions is when you pay for a group gift on your credit card and everyone pays you back in cash at some stage. Using Manual Transactions you can account for that cash and this is especially helpful if the payment is delayed.

Watch this video to see how Manual Transactions work in Xero Personal:

Also in today’s release we’re extending the ability to import data so you can now bring in transactions using CSV format. For more detail on CSV importing see Help.

If you’d like to ask questions or see what others are saying have a look at Xero Answers.