Get a clearer view of your finances, faster: Get a first look at automatic bank reconciliation

We’re thrilled to announce that Xero’s new automatic bank reconciliation feature (powered by JAX) is rolling out, globally, in beta this week. This powerful new capability delivers the next chapter in our vision for JAX, your AI business financial superagent.

At Xerocon, we shared our vision for evolving JAX into an AI financial superagent, orchestrating multiple agents behind the scenes, to empower smarter decisions through a reimagined experience, automated actions and workflows, and actionable insights on Xero’s trusted, agentic platform. Automatic bank reconciliation delivers a key part of that vision: moving from manual work to automated actions and workflows that are ‘Just Done – with your control’. 

Manual tasks like data entry and bank reconciliation take up valuable time and introduce the possibility of errors that can impact reporting and compliance. That’s why JAX is built specifically for the complex world of finance you navigate every day. Coupled with the robust security you expect from Xero, this specialised intelligence empowers small businesses and advisors to work smarter, together.

This initial release of automatic bank reconciliation will give you a first look at this new capability and we can’t wait to see how it helps you in your day-to-day work.

Meet automatic bank reconciliation, powered by JAX (in beta)

Bank reconciliation is the heart of bookkeeping, and we’re bringing the power of JAX right into it. Soon, JAX will work alongside you to automatically reconcile bank transactions where there’s high confidence, giving you a reliable, up-to-date view of your finances sooner. 

You’ll have full visibility over this automation on the new ‘Reconciled’ page, where you can see bank and accounting details together. You’ll always be in control, with the ability to easily review or adjust any transaction JAX has reconciled for you.

Our goal is for JAX to work behind the scenes to automatically reconcile more than 80% of your bank statement lines in real time.

Here’s how it helps you:

• Full visibility and total control: We believe AI should help you stay in charge of your work. You’ll have full visibility over everything JAX reconciles on the new ‘Reconciled’ page. You have the flexibility to review, adjust, or take over at any time. Subscribers and advisors can easily switch automation on or off for each bank account, ensuring you’re in the driver’s seat. 
• Smart automation you can trust: JAX auto-reconciles transactions with high confidence. JAX’s intelligence goes beyond just simple matches. It learns from your own reconciliation history to find patterns and learn from similar, anonymised transactions across Xero to make predictions. This multi-layered approach means it learns from your actions to become an even smarter partner to you. Learn more about how automation works in this article.
• Simple and intuitive design: We focused on a clean, simple, and intuitive UI that’s easy to use. The reconciliation workflow is designed to be straightforward, making it clear what’s been auto-reconciled and what needs your attention. This reduces cognitive load and helps you get from doing to reviewing.
• Free up time for high-value work: Partner with JAX to handle your routine, high-confidence reconciliations, freeing you up to focus your effort where it matters most.
• Know your cash flow, faster: JAX immediately categorizes and matches transactions, helping to keep your accounts accurate and up-to-date.

“It saves probably about 4 hours a week which is pretty big… I went away last week and come back yesterday and only have a few transactions to reconcile which was amazing. The accuracy is through the roof.

“I can view them and pretty easily identify which have been auto-reconciled and check those. And that Reconciled Page makes it really easy. Lets me get on with other parts of my job.”
– Anthony Bishop, Bookkeeper at Suncity legal services

“I would say I’m usually spending seven hours a week. I’ll be able to get through them in less than 30 minutes on a given day now. Definitely a third of the time I’d usually be spending.” – Rob Morrison, Bread + Butter 

How to get started

Automatic bank reconciliation is available on Xero Grow (Australia, New Zealand, and UK), Growing (US), and Standard plans (Global), and above.

The initial release will be rolling out this week, and will continue rolling out gradually in the coming weeks. When it’s available for your organisation, or any organisation that you have access to, you’ll see a message in Xero with a product tour to get started.

You’ll need to turn automation on for each bank account you want JAX to help you reconcile – ensuring you’re always in control.

• For detailed instructions, see our Xero Central article on how to use automatic bank reconciliation.
• To learn more about the feature, visit our web page.

Automatic bank reconciliation is a powerful step forward in giving you more time back and empowering smarter decisions. We can’t wait for you to give it a try.