About Connection & Bank Feeds
What to do if I have more than 1 Xero Organisation to connect?
One Xero organisation can only connect to one GCFX business account. The multiple GCFX user accounts for one business account will be connected to the selected Xero organisation.
If you have 2 Xero organisations you would need to connect, please register 2 business accounts for your companies, then you can set up the connection for each company.
Sign up for an Extra GCFX Business Account here for your other companies
My Xero account don’t have the Currency I used in GCFX, what can I do?
First, please check if you are under the Xero Premium subscription plan which is the only plan supporting multi-currencies. Upgrade your plan on Xero if you need to activate the multi-currency function. You can also try out the multi-currencies function under your free trial period.
If you are on the right plan, make sure you add the currency you need on the “Setting”. Visit this support article from Xero to learn more on how to “Add a Foreign Currency in Xero”
What to do if I need to synchronise records before the connection?
Currently, we only provide the options to synchronise transaction records after the day of connection. If you would like to arrange synchronising past records, please send your request to our Customer Service team (cs@mail.kvbgc.com) with your user account ID / email and the date (or date range) of transaction records you would need to load on Xero. This will be proceeded manually and will takes a few business days.
If I am doing FX and arrange deposit from a bank account, how should I do my reconciliation?
GCFX Xero Bank feeds function only supports fund in or out records on the GCFX accounts. If you perform FX deal from another bank account, please reconcile by using your bank account statement (as GCFX is not authorised to update statement records for other banks).
If you use GCFX to support the FX payment, you may get your exchange rate from the deal history and edit the exchange rate on Xero when you save your record. By default, Xero uses XE.com’s exchange rate for all your foreign currency bills & invoices.
What to do if you encounter a data error on the bank feed synchronisation?
Please contact our customer service team (cs@mail.kvbgc.com) with your user account ID / email & screen captures (preferable to help us investigate what’s wrong quicker)
What to do if you find the statement balance on Xero is not the same as your bank statement balance?
Example: Below we can see a record under “GCFX AUD” with statement balance 97,588.78, but end balance is 97,788.78. The total is out by 200.
The reason of this kind of difference is caused by the calculation of Xero for statement balance - the statement balance is calculated by using actual transaction.
Please refer to this help article on Xero to adjust the conversion balance or open balance based on your situation https://central.xero.com/s/article/Add-your-opening-bank-balances-in-Xero
For the example above, since GCFX AUD is an existing account and has transaction before connection, so we need to add a conversion balance.
How can I import a bank statement on Xero?
If you need to import a bank statement on Xero, you can refer to this video to understand the procedures and the data requirements from Xero.
About Xero Bill & Payment
Why some of my Xero bills do not appear in GCFX?
GCFX only extracts the approved bills from Xero - i.e. Xero Bill Status = Awaiting Payment or Paid.
If the bills are in draft / awaiting approval / voided status, they will not appear on GCFX. You will need to move forward the bill status in Xero first in order to have them appeared on GCFX.
Why there is no payment transaction created on Xero when I have paid a Xero bill via GCFX?
Currently, GCFX will only create payment via integration when you Xero bill is paid with a GCFX internal account.
In this case, it is advised to create the payment manually in Xero to complete the reconciliation against the corresponding bank account.
