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Cash coding…really fast

We’re now working with hundreds of accounting firms in New Zealand, Australia, the United Kingdom and around the globe.  For the last year, we’ve been rolling out tools for accountants to be more productive. We’ve heard clearly that accountants work with client data quite differently to what business owners and bookkeepers generally do. Because accountants tend to be working across numerous clients, they need to  process larger volumes of data.

To help accountants work more efficiently in Xero, we’re releasing a great selection of go-faster features today:

  1. Fast Cash Coding to reconcile a whole statement in a single swoop
  2. Import and automatically reconcile pre-coded bank statements – perfect for bringing data into Xero from other systems
  3. Manage the organisations that practice staff have access to without leaving MyXero
  4. Work with manual journals much faster with a new invoice-style grid

The highlight of these new features is cash coding. This video shows how it works:

Fast cash coding gives accountants the ability to process a bank statement (or a whole year’s worth of bank statements) in a single swoop. Combined with the existing automatic matching rules, reconciling large volumes of transactions now involves a quick check of the automatically coded lines, then batch code the exceptions. Invoices and expense claims in Xero continue to be automatically matched where possible using Xero’s standard bank reconciliation.

Other updates in this release include:

  • Repeating invoices can now be automatically emailed, allowing you to set (and forget) invoicing to clients who need to be billed the same amount over and over again. (This one was for Viv)
  • New Zealand and Australian customers can now enter custom GST rates (see our release notes for details of how this effects the GST return in Xero).
  • Drill-down links in reports can now be opened in a new tab or window (hold down ctrl when you click the link, or click the scroll-wheel on your mouse).
  • You can now import invoices and payments automatically from FreshBooks.

You can read the full release notes here.

Please let us know what you think.

 

Read more about Accountants

 

8 comments

Bruce Campbell
13 November 2009 #

Thanks, Viv!!!

Gregor
13 November 2009 #

This is really great – a great timesaver. Would it also be possible to add this feature to employee expense reports: it would be great to be able to upload a CSV file from an employee and quickly add the account codes.

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Philip Bridgen
20 November 2009 #

Love the new Cash Coding feature – this is the sort of accountant-friendly feature that will make Xero Accounting irresistible!

Bruce Earle
24 November 2009 #

Great stuff, the cash coding works really well. Great timing now that we’ve turned off our Banklink system!

[...] of you have taken like ducks to water to try our new fast cash coding feature released earlier this month. It’s designed to help accountants work faster with large [...]

Adrian Pearson
26 November 2009 #

Hi Andrew. I want to make little demos like this for our clients. What software do Xero use to record these screencasts?

Andrew Butel
26 November 2009 #

Adrian – we use Camtasia for Windows. See http://www.techsmith.com/camtasia.asp

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