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Xero Global Release Update May 2017

Posted 5 months ago in Product by Jo Blundell
Posted by Jo Blundell

And that’s a wrap for a busy month of May! Check out our monthly product update and get a quick snapshot of what’s coming in June and beyond. Remember you can find all changes and release updates to Xero in the Help Centre. Another great place to keep up to date with some of our coolest releases is our feature timeline.

Released May ’17:

  • Importing budgets into Excel
  • Report templates Agri (New Zealand)
  • Summarised report groups
  • Aged Receivables & Payables added to New Report Templates
  • Contacts lookup & indicators of credit risk (Australia & New Zealand)
  • Xero and BPAY AR
  • Transfer of Direct Feeds
  • Xero HQ: Merge and convert clients
Payroll updates
  • Pay History Report (New Zealand)
  • Backpackers Tax Functionality
  • Earlier Year Update
Mobile updates
  • Xero for Android – add files enhancement
  • Xero for iOS – contacts enhancement
90 Day Window – What’s Coming
  • Find & Recode enhancements
  • Create bank rules
  • Stripe reconciliation
  • Indirect statement of cash flows (US)
  • Xero subscription online invoicing
  • Cheque printing (US)
  • Office 365 add-in for Xero HQ
  • New pension tab (UK)

Released May ‘17

Importing budgets into Excel

Accountants and all Excel lovers are now able to import budgets into Xero directly from Excel. It’ll allow for more flexibility, which in turn lets you make informed decisions in real time when comparing budgets to your financial data.

Report templates Agri (New Zealand)

We’ve been working in close partnership with members of the Rural Advisory Committee (RAC) to design specific Agri reporting templates that make reporting easier for New Zealand farmers. The new reports are more detailed and comprehensive, giving farmers and advisors better insights into how the business is performing. Read more

Summarised report groups

You now have the option to tabular your reports and display group totals only, without the detail. Currently you can do this in the Depreciation Schedule, Disposal Schedule and Account transaction.

Aged Receivables & Payables added to New Report Templates

Our community have requested that we provide Aged reports in the new Report Templates and we listened. We’ve extended our ever-popular Report Templates – they now include payables and receivables reports. This means you can start adding these reports to the monthly management accounts you prepare for your clients. Read more about this release.

Contacts lookup & indicators of credit risk (Australia & New Zealand)

We released contacts lookup & credit or payment risk indicators to a pilot group in Australia and New Zealand. We’re releasing to a second group shortly and to all in the upcoming months. Find out more about this release on the website www.xero.com/nz/equifax/ for NZ and www.xero.com/au/equifax/ for AU or on our blog.

xero-product-release-update-may-2017
Add BPAY as a payment option on online invoices (Australia)

You can now add BPAY(R) as a ‘Pay Now’ option on your Xero online invoices and make it easier for your customers to pay you. Set up a DEFT account and start offering BPAY(R) as a payment option on your Xero online invoices today. Once your bill is paid Xero auto-matches payments to invoices so reconciliation is a breeze. Read more.

xero-product-release-update-may-2017
Transfer of Direct Feeds

Subscribers and Advisers of an organisation are now able to transfer a direct bank feed to another organisation which they’re a Subscriber and Adviser of, this will happen instantly. From the Bank Account screen users will be able to click Manage Account > Transfer Feed and from the Dashboard you’ll see Transfer Feed under the bank account menu. All you need to do is select the organisation and we’ll either match the feed to an existing bank account or create a bank account on your behalf.

xero-product-release-update-may-2017
Payroll updates
Payroll history report (NZ) The release provides a detailed breakdown of payroll transactions so that these can be used to:

  • Help review and reconcile at the EOFY.
  • Report and pay any transactions per employee/pay items per pay period Eg. Third party Deductions in a pay period.
  • Provide data to Government agencies if requested. Eg. Audit purposes.
Earlier year update (UK) Customers can now use the EYU in Xero to make corrections to their employee’s prior year-to-date payroll figures starting with the tax year 2016/17. Once the payroll admin completes updates in the EYU for one or more employees, Xero will submit the changes electronically to HMRC. This capability closes a critical functionality gap with competitors and addresses a known customer need.xero-product-release-update-may-2017

Mobile updates

Xero for Android – quotes

We’ve added a ‘+’ button to Xero for Android, so that you can add files from anywhere in the app. Additionally, you now have the ability to arrange and create folders for the files inbox.

Xero for iOS – contacts

With this latest iOS release, contacts can now be edited by selecting ‘Edit’ from the ‘Options’ action sheet when viewing a contact (either against an invoice or on the invoices tab). It’ll allow you to easily add new customers or suppliers, fix mistakes or make additions to contacts on the spot, or in their down line.

Xero HQ updates

Client management enhancements in Xero HQ

We’ve made improvements to the way practices work with their clients in Xero HQ. Duplicate client records can now easily be merged and you can now convert Xero organisations that you’ve been invited into to clients records in Xero HQ meaning that you can manage them within your practice while leaving the ownership of the subscription with your client.

To learn more view the video below.

90 Day Window – What’s Coming

Find & Recode enhancements

With the upcoming Find & Recode release for advisors, you’ll easily be able to recode manual journals. Soon you can search for transactions by bank account, invoice number or the reference. Cleaning up accounts in Xero will be done at lightspeed.

Create bank rules

Soon you can create a bank rule to transfer money between bank accounts. So next time you do a bank transfer between two accounts in your Xero, these will auto code for you. Simply hit ‘OK’ and move on.

Stripe reconciliation

Soon Stripe reconciliation will be that much easier! When your money from Stripe is imported as a statement line in Xero, the matching transactions will automatically be selected and you can reconcile with one click. No more manual reconciliation against Stripe deposits will leave you with more time on your hands for other things.

Indirect statement of cash flows (US)

Soon you’ll have the ability to move accounts into and out of the Cash Balances group in the Direct Statement of Cash Flows. You’ll find a new Indirect Statement of Cash Flows report as well as multi-currency in both the Direct and Indirect Statement of Cash Flows reports.

Xero subscription online invoicing

We’re bringing a few improvements to our billing over the next couple of months – the latest one will help you save time and find copies of lost invoices. We’re switching our monthly Xero subscription invoices to online invoices – and leaving PDFs behind.  Online invoices are so much quicker and simpler – you don’t need to manually enter them into Xero. Just import them as a draft bill and speed on to your next task.

Check printing (US)

Check printing from scratch or onto pre-existing stock and more flexibility in creating the check layout has been made available to a beta group in the US. We’ll be rolling out the release to all in the upcoming months. With this release you’ll be able to print 3 checks per page onto blank check stock and existing check stock with the ability to adjust elements. We’re also adding an additional voucher layout, with the check in the centre and a voucher above and below.

Office 365 add-in for Xero HQ

Users of Xero HQ and Microsoft Office 365 will soon be able to take advantage of the new Xero HQ add-in for Outlook on Office 365. This new integration, the first of it’s kind for Xero HQ, will enable Outlook users to save emails and their attachments directly to client notes within Xero HQ.

New pension tab (UK)

We’ve reorganised and simplified the tab structure to match content and allow quick scanning. With this release you’re now able to make use of content that was already gathered about employees to reduce data entry. We’ve also reformatted the data presentation to reduce the amount of disabled fields and increase readability.   

4 comments

Heather Smith
June 8, 2017 at 5.05 pm

“Online invoices are so much quicker and simpler – you don’t need to manually enter them into Xero. Just import them as a draft bill and speed on to your next task.”

Before: Receipt Bank + Xero = zero time processing
After: Importing online invoices = time to import, plus time to code every line (I had 14 lines) – account plus tracking, plus time to approve the invoice = two minutes

Justin Araco
June 8, 2017 at 5.12 pm

Re: Xero subscription online invoicing “are so much quicker and simpler”
Completely disagree. This adds time to processing invoices. Previously I set PDF invoices to auto-send to Receiptbank, which auto-published and approved the invoice in Xero, therefore processing time was NIL.
Now I have to click on each invoice link, send to the correct Xero file, code line by line and approve the invoice. If I only had 1 invoice, I would be ok with it. But for bookkeepers and accountants that have many clients that are billed separately for their files, the added time on a ‘per Xero invoice’ basis adds up quickly.

Nick
June 8, 2017 at 8.08 pm

“Xero subscription online invoicing

We’re bringing a few improvements to our billing over the next couple of months – the latest one will help you save time and find copies of lost invoices. We’re switching our monthly Xero subscription invoices to online invoices – and leaving PDFs behind. Online invoices are so much quicker and simpler – you don’t need to manually enter them into Xero. Just import them as a draft bill and speed on to your next task.”

This is not an improvement as far as I’m concerned. It slows down the bookkeeping process as know we need to click a link, save as draft, go into Xero, check the coding and approve. When a pdf invoice is sent I can simply forward it to Receiptbank and it is all taken care of.

Please, can you continue sending pdf invoices via email. One of my biggest annoyances are businesses that don’t send invoices and expect you to click through/sign on to their systems to view and download your invoices.

I know I’m not the only Xero user/partner who feels this way about this change.

Andrew Syme
June 13, 2017 at 8.54 am

Re Xero subscription online invoicing not including PDF file

Check out the thread on “Xero Mastermind Group” on facebook – Solution available courtesy of Taylor O’Brien

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