Product Update
New in Xero: automatic bank reconciliation (and why CathyPay loves it)
Xero has released automatic bank reconciliation, powered by its new JAX AI engine. When it's turned on, Xero can automatically match and code bank statement lines it's confident about, and show the results on a new Reconciled page for review.
For healthcare practices, that means less time clicking through individual lines and more time checking the exceptions. Your bank accounts stay closer to real time without extra effort.
How to turn it on
- In Xero, open the bank account you want to automate and enable automatic bank reconciliation (JAX).
- Xero will start auto-reconciling high-confidence matches in the background, and you can review or correct them on the Reconciled tab at any time.
Why this matters for CathyPay customers
CathyPay doesn't replace Xero; it sits alongside it.
- Xero + JAX keeps the bank side of your ledger up to date automatically.
- CathyPay focuses on the healthcare side – turning PMS billings, payment flows and complex doctor agreements into daily close and doctor disbursement views.
When both are working together:
- Your daily CathyPay numbers for "what came in" line up faster with what actually hit the bank.
- There are fewer unreconciled or mis-coded items to chase down before you pay doctors.
- Practice owners and CFOs can make cash-flow decisions with more confidence because both sides of the process – bank reconciliation and revenue/disbursement reconciliation – are automated and visible.
Try this:
Turn on Xero's automatic bank reconciliation for your main accounts, then run your next CathyPay daily close. You should see fewer exceptions and a smoother path from "money in the bank" to "doctors paid correctly".
Want to know more?
See how CathyPay can streamline your practice's financial operations.