Reconciliation for Bill Payments using your Libeo Wallet

When your Xero account is synced for the first time with Libeo, we create a bank account called “Libeo Wallet” in your Xero account.

For every bill payment made with Libeo, a transaction will appear in the Libeo Wallet. As of now, no bank statements will appear in your Libeo Wallet. To reconcile these payments, please manually reconcile them. It will create a corresponding bank statement. In the coming weeks, a new feature will automate this process.

Also, for each Top UP (even if you have set up Auto Top Up), please reconcile your bank account statement with the Libeo Wallet. The bank transfer from your bank account to the Libeo Wallet is not automated.

Reconciliation for Bill Payments using Open Banking

For every bill payment made with Open Banking, Libeo will ask you from which bank account you are paying, and will indicate a transaction on that bank account in Xero.

From this point, if your bank account is connected to Xero, the bank statement corresponding to this payment will appear on that Xero bank account. You can click "OK" in the "reconcile" tab to match the statement and the transaction.

Reconciliation for Payroll payments

Payroll can only be imported manually in Libeo, through csv. or BACS file. The corresponding payments are not pushed to Xero as of now. To reconcile these payments please create a spend money transaction from your Libeo Wallet.

Just like for bill payments made using the Libeo Wallet, for each Top UP (even if you have set up Auto Top Up), please reconcile your bank account statement with the Libeo Wallet. The bank transfer from your bank account to the Libeo Wallet is not automated.

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